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Market Brief – Thursday 3/24/22

Stocks and Treasury yields rose in overnight trading as investors remain hopeful the Ukraine conflict will soon end. Stocks headed higher in early trading while Treasury yields were heading lower.

Initial unemployment claims fell to +187k last week as employers appeared eager to hold onto workers. Total claims fell -110k to 1.857 million as a continued sign displaced workers are quickly finding new opportunities.

Durable Goods New Orders fell -2.2% in February and excluding transportation, Core Durable Goods New Orders fell -0.6% in February.

The preliminary Market Manufacturing PMI expanded at a faster rate in March and the preliminary Services PMI also expanded at a faster rate in March.

Stocks and Treasury yields closed higher on the day.