The U.S. labor market showed resilience as initial jobless claims for the week ending March 15 rose slightly to 223,000, just below the expected 224,000. The four-week moving average increased by 750 to 227,000. Continuing claims for the week ending March 8 rose to 1.892 million, slightly above the forecasted 1.887 million, indicating a stable labor market despite a marginal uptick in unemployment applications. In manufacturing, the Philadelphia Federal Reserve's Manufacturing Index for March came in at 12.5, surpassing the expected 9.0 but lower than the previous month's 18.1. This suggests a slowdown in manufacturing activity, though still in expansion territory. The housing market saw a significant boost in February with existing home sales rising to an annual rate of 4.26 million units, up 4.2% from January and surpassing the expected 3.95 million. This increase was attributed to a decline in mortgage rates to 6.65% and an increase in available properties, with inventory rising 5.1% from January and 17% from a year ago to a 3.5-month supply. The median home price rose 3.8% year-over-year to $398,400. First-time buyers accounted for 31% of sales, with cash sales at 32%, investors at 16%, and distressed sales at 3%.