Printed: March 16, 2023 at 5:07 p.m. ET

Shares of commercial and transportation corporations gained on financial optimism.

Purposes for unemployment advantages fell final week, displaying the U.S. labor market stays sturdy. Preliminary jobless claims, a proxy for layoffs, decreased by 20,000 to a seasonally adjusted 192,000 final week, the Labor Division stated.

The Philadelphia Fed stated…

Shares of commercial and transportation corporations gained on financial optimism.

Purposes for unemployment advantages fell final week, displaying the U.S. labor market stays sturdy. Preliminary jobless claims, a proxy for layoffs, decreased by 20,000 to a seasonally adjusted 192,000 final week, the Labor Division stated.

The Philadelphia Fed stated its gauge of regional enterprise exercise inched as much as detrimental 23.2 in March from detrimental 24.3 within the prior month.

Virgin Orbit introduced a “companywide operational pause” with a purpose to preserve capital whereas it seeks funding sources.

German arms maker Rheinmetall stated it’s anticipating important gross sales progress this yr and is mountaineering its dividend after posting the next revenue for 2022, a yr marked by rising protection spending following Russia’s invasion of Ukraine.

Write to Amy Pessetto at amy.pessetto@dowjones.com