Philly Fed, jobless claims take center stage Thursday

As traders approach another pivotal day for financial markets, Thursday, September 18, 2025, brings a series of crucial decisions and economic data releases that could sway market dynamics. The Philadelphia Fed Manufacturing Index and Initial Jobless Claims are set to take center stage, offering insights into regional manufacturing activity and the state of the labor market, respectively.

Major Economic Events to Watch

• 8:30 AM ET: Philadelphia Fed Manufacturing Index (Forecast:1.7, Previous: -0.3) - A key indicator of manufacturing conditions in the Philadelphia region

• 8:30 AM ET: Initial Jobless Claims (Forecast:241K, Previous: 263K) - A measure of new unemployment insurance claims filed in the past week

Other Important Economic Events to Watch

• 8:30 AM ET: Philly Fed Employment (Previous:5.9) - Employment component of the Philadelphia Fed Manufacturing Index

• 8:30 AM ET: Continuing Jobless Claims (Forecast:1,950K, Previous: 1,939K) - Number of unemployed individuals qualifying for unemployment insurance benefits

• 12:00 PM ET: 10-Year TIPS Auction (Previous:1.985%) - Treasury auction for inflation-protected securities

• 4:00 PM ET: TIC Net Long-Term Transactions (Previous:150.8B) - Measure of foreign investment in U.S. long-term securities

• 4:30 PM ET: Reserve balances with Federal Reserve Banks (Previous:3.151T) - Amount of money depository institutions hold at regional Federal Reserve Banks

• 4:30 PM ET: Fed’s Balance Sheet (Previous:6,606B) - Statement of assets and liabilities of the Federal Reserve System

Other Economic Events to Watch

• 8:30 AM ET: Philly Fed Business Conditions (Previous:25.0) - General business conditions in the Philadelphia region

• 8:30 AM ET: Philly Fed Prices Paid (Previous:66.80) - Price component of the Philadelphia Fed Manufacturing Index

• 8:30 AM ET: Philly Fed Capex Index (Previous:38.40) - Capital expenditure component of the Philadelphia Fed Manufacturing Index

• 8:30 AM ET: Philly Fed New Orders (Previous:-1.9) - New orders component of the Philadelphia Fed Manufacturing Index

• 8:30 AM ET: Jobless Claims 4-Week Avg. (Previous:240.50K) - Four-week moving average of initial jobless claims

• 10:00 AM ET: US Leading Index (Forecast:-0.2%, Previous: -0.1%) - Composite index of leading economic indicators

• 10:30 AM ET: Natural Gas Storage (Forecast:80B, Previous: 71B) - Weekly change in natural gas inventories

• 11:30 AM ET: 4-Week Bill Auction (Previous:4.060%) - Treasury auction for short-term government securities

• 11:30 AM ET: 8-Week Bill Auction (Previous:4.000%) - Treasury auction for short-term government securities

• 4:00 PM ET: TIC Net Long-Term Transactions including Swaps (Forecast:97.20B, Previous: 150.80B) - Measure of foreign investment in U.S. long-term securities including swaps

• 4:00 PM ET: Overall Net Capital Flow (Previous:77.80B) - Sum of various components of international financial flows

• 4:00 PM ET: Foreign Buying, T-bonds (Previous:-5.00B) - Net purchases of U.S. Treasury bonds and notes by major foreign sectors

For further information and the latest updates, please refer to our Economic Calendar, here.

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