Composite PMI Falls To 51.2; SP500 Tests Session Highs

On April 23, 2025, S&P Global released PMI reports for April. The reports indicated that Manufacturing PMI increased from 50.2 in March to 50.7 in April, compared to analyst forecast of 49.1. Numbers above 50 show expansion.

Services PMI decreased from 54.4 in March to 51.4 in April, compared to analyst forecast of 52.5. Composite PMI pulled back from 53.5 to 51.2, while analysts expected that it would fall to 51.

S&P Global commented: “The early flash PMI data for April point to a marked slowing of business activity growth at the start of the second quarter, accompanied by a slump in optimism about the outlook.”

U.S. Dollar Index moved higher as traders reacted to the better-than-expected Composite PMI data. Currently, U.S. Dollar Index is trying to settle above the 99.65 level.

Gold tested new lows after the release of PMI reports. From a big picture point of view, gold traders focus on recent comments from U.S. President Donald Trump, who said that he would cut China taiffs in a trade deal.

SP500 tested session highs after the release of the PMI reports. Currently, SP500 is trying to settle above the 5450 level. Trump’s comments serve as the key positive catalyst for stocks today.

For a look at all of today’s economic events, check out our economic calendar.