Thursday brought Unemployment Claims and New Home Sales figures. Jobless claims increased by 15,000 to 261,000 in the week ended March 18, according to the agency. The median forecast in a Bloomberg survey called for 240,000. On an unadjusted basis, applications jumped in Ohio and Kansas. Before today’s correction, the Labor Department reported Thursday that applications rose to 258,000.
Purchases of new homes increased in February to a seven-month high, indicating the effects of the recent rise in borrowing costs on the U.S. residential real estate market have been modest. Sales rose 6.1 percent to a 592,000 annualized pace, Commerce Department data showed Thursday. The median forecast in a Bloomberg survey called for a 564,000 rate. Warmer winter weather probably played a role in boosting demand as purchases in the Midwest surged by the most since October 2012.
Friday's session was marked by Durable Goods Orders data. New orders for manufactured durable goods in February increased $3.9 billion or 1.7 percent to $235.4 billion, the U.S. Census Bureau announced today. This increase, up two consecutive months, followed a 2.3 percent January increase. Excluding transportation, new orders increased 0.4 percent. Excluding defense, new orders increased 2.1 percent. Transportation equipment, also up two consecutive months, led the increase, $3.3 billion or 4.3 percent to $80.4 billion.
This week markets will be looking at:
CB Consumer Confidence (Tuesday 16:00)
Pending Home Sales (Wednesday 16:00)
Unemployment Claims (Thursday 14:30)
Final GDP (Thursday 14:30)
Chicago PMI (Friday 15:45)
