U.S. Equity Markets End Mixed Amid Weaker Manufacturing and Job Data

U.S. Equity Markets End Mixed Amid Weaker Manufacturing and Job Data

Key Highlights:

✅ Nasdaq (+0.9%) and S&P 500 (+0.4%) advanced, while the Dow (-0.03%) slipped.
✅ Consumer discretionary stocks led gains, while healthcare and financials declined.
✅ U.S. Treasury yields fell; 10-year at 4.16% (-8 bps), 2-year at 3.88% (-3.7 bps).
✅ Weak manufacturing data and job openings decline weighed on sentiment.
✅ Tesla (+3.6%), GE Vernova (+3.4%), and WNS (+8.3%) surged, while J&J (-7.6%) dropped.

Markets React to Weak Economic Data

U.S. equity markets ended mixed on Tuesday as investors reacted to weaker-than-expected manufacturing and job market data.

• The Nasdaq Composite led the gains, climbing 0.9% to 17,449.9, while the S&P 500 edged 0.4% higher to 5,633.1.

• The Dow Jones Industrial Average slipped 0.03% to 41,990 as healthcare and financial stocks declined.

Treasury yields also fell, with the 10-year note dropping 8 basis points to 4.16%, while the 2-year yield slipped to 3.88% (-3.7 bps).

Manufacturing and Job Market Show Signs of Weakness

The U.S. manufacturing sector contracted in March, reflecting weak demand. According to the Institute for Supply Management (ISM), the sector fell into contraction territory, with supply chain disruptions leading to backlogs in new orders and slower supplier deliveries.

• "Demand and production retreated, and companies continued reducing staff due to uncertainty," said Timothy Fiore, Chair of ISM's Manufacturing Business Survey Committee.

• S&P Global (SPGI) data also indicated stagnant manufacturing activity.

Meanwhile, U.S. job openings declined more than expected in February, while layoffs increased, according to government data.

Stock Movers: Tesla, GE Vernova, Johnson & Johnson, and More

? Tesla (TSLA) gained 3.6%, leading the S&P 500 after a report showed new car sales in Spain surged 34% year-over-year in March.

? GE Vernova (GEV) rose 3.4% after announcing a $50 million funding commitment to MIT over five years for research initiatives.

? WNS shares jumped 8.3% on reports that the outsourcing tech firm is considering a sale following interest from Capgemini and other potential buyers.

? Johnson & Johnson (JNJ) plummeted 7.6%, marking the biggest S&P 500 loser after a U.S. bankruptcy court rejected its subsidiary Red River Talc’s proposed restructuring plan.

? Vistra (VST) climbed 4.1%, gaining investor interest as it explores opportunities to supply electricity to energy-intensive AI data centers.

? Warner Bros. Discovery (WBD) dropped 4.8% after appointing Anton Levy of General Atlantic as an independent board member, as the company continues restructuring efforts.

Commodities & Other Market News

• Gold edged up 0.04% to $3,149.1 per troy ounce, while silver slipped 0.8% to $34.33.

• Crude oil (WTI) declined 0.4% to $71.21 per barrel.

• The Biden administration is preparing to impose 20% tariffs on most imports, according to The Washington Post. White House Press Secretary Karoline Leavitt confirmed the tariffs would take effect immediately once announced on Wednesday.

Market Outlook

The stock market remains volatile amid mixed economic indicators, with weak manufacturing data and declining job openings fueling concerns about growth. Investors are closely watching upcoming economic reports and potential policy changes, including new trade tariffs and interest rate decisions.