ISM Manufacturing PMI Drops To 49; SP500 Tests Session Lows

On April 1, 2025, the Institute for Supply Management released ISM Manufacturing PMI report for March. The report indicated that ISM Manufacturing PMI declined from 50.3 in February to 49 in March, compared to analyst forecast of 49.5. Numbers below 50 show contraction.

The report showed that U.S. manufacturing activity declined as demand weakened. Tariffs served as an additional negative catalyst for ISM Manufacturing PMI.

Today, traders also had a chance to take a look at JOLTs Job Openings report for February. The report showed that JOLTs Job Openings declined from 7.74 million to 7.568 million, compared to analyst forecast of 7.63 million. Falling JOLTs Job Openings may signal that the economy is slowing down.

U.S. Dollar Index pulled back from session highs as traders reacted to the weaker-than-expected ISM Manufacturing PMI and JOLTs Job Openings reports. Currently, U.S. Dollar Index is trying to settle below the 104.25 level.

Gold remained stuck near the $3135 level. Gold traders have mostly ignored the release of U.S. economic data.

SP500 tested session lows after the release of the report. Traders worry that the economy is slowing down due to trade wars and fear that there is more pain ahead.

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