From the Desk - Economic Commentary
Brandon Casey, Member Strategies - 3/19/2026
U.S. stocks opened lower Thursday morning but have since clawed back some of those early losses. Markets continue to monitor developments in the Iran war and surging oil prices. Stocks are coming off a losing session, with the DJIA closing at its lowest level of the year. The FOMC held rates steady yesterday, as expected, and signaled one rate cut for 2026.
Initial jobless claims fell to 205,000 in the week ending March 14, a decrease of 8,000 from the prior week and below expectations of 215,000. This marks the lowest level since January. The four-week moving average eased to 210,750, also its lowest level since January, indicating stable labor market conditions despite softer hiring. Continuing claims rose modestly to 1.86 million in the prior week.
New home sales fell to a seasonally adjusted annual rate of 587,000 in January 2026, a decline of 17.6% from December’s revised 712,000 pace and 11.3% below the January 2025 level. Inventory edged up to 476,000 homes, representing 9.7 months of supply. The median sales price declined to $400,500, down 4.5% from December and 6.8% from January 2025.
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