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February rise: Pending home sales in the U.S. rose in February for the first time in three months, as lower mortgage rates and slower price growth helped lure buyers back into the market. Contract signings increased 1.8%, defying expectations of a decline and signaling improving affordability ahead of the spring selling season. Still, the rebound may be fragile, with rising oil prices and renewed inflation concerns threatening to push borrowing costs higher again. Read more from Bloomberg. A subscription may be required.
US-produced vehicles: Nissan Motor plans to join fellow Japanese automakers Toyota Motor and Honda Motor in exporting U.S.-produced vehicles to Japan following changes to the country’s vehicle import rules reached through a trade deal last year with the Trump administration. The company on Tuesday said it will import the midsize Nissan Murano, built in Smyrna, Tennessee, to Japan beginning early next year. It marks the first American-made Nissan sold in Japan since the 1990s, according to a Nissan spokeswoman. Read more from CNBC.
More money proposed: Louisiana’s top education official is recommending that lawmakers approve a recurring increase in school funding. Under the proposal, public schools would receive $47 more per student—almost a 50% bump—to pay for employee health insurance, retirement contributions, fuel and other specific costs. If approved, it would be the first increase since 2008. Read more from Louisiana Illuminator.
