U.S. layoff announcements rose 7% in March to the highest since January 2023, led by technology and government-sector job eliminations, though cuts announced year to date are down 5% from a year ago amid a still-strong job market, a report out on Thursday showed.

The U.S. trade deficit widened for a second straight month in February as an increase in exports to a record high was offset by surging imports, suggesting trade could be a drag on economic growth in the first quarter.

The number of Americans filing new claims for unemployment benefits increased to a two-month high last week, though labor market conditions remain fairly tight.

Dan Ariens laid off workers, cut shifts, and halted nearly all hiring last summer after sales slumped at his company, best known for making bright orange snow blowers and lawnmowers sold around the world. Headcount fell 20% to 1,600 people, and he doesn't see business improving until 2025.

Hiring plans among U.S. small businesses in March were the weakest since May 2020 when pandemic shutdowns threw the economy into recession, dropping below a key threshold some economists see as a bellwether for the wider job market, a survey out on Thursday showed.

Oil prices extended gains on Friday and headed for a second weekly gain, supported by geopolitical tensions in Europe and the Middle East, concerns over tightening supply, and optimism about global fuel demand growth as economies improve.