According to payroll processor ADP, private companies added 475k new jobs in February. ADP also revised January's report upward by 801K.

In his testimony before Congress, Fed Chair Jerome Powell said he still expects a quarter point Fed policy rate hike at this month's meeting.

New jobless claims came in at 215k, the lowest this year. Continuing claims' 4-week average fell to 1.48 million, the lowest since 1970.


Pending home sales were down 5.7% in January, continuing what is now a 3-month drop in transactions as inventory remains at an all-time low.

Record increases in home prices translate to record levels of equity for homeowners. The average mortgage holder has $185K in equity.

According to Redfin, U.S. homeowners had lived an average of 13.2 years in their homes in 2021, up from the 10.1-year average a decade ago.