Wednesday's Markets Review (April 5, 2023)

09 Apr 2023 by rate3

On Wednesday, the ISM Services PMI report indicated a decline in demand and employment, along with an improvement in capacity and logistics. Additionally, there was a decrease in price pressures, which was the lowest since September 2020. The PMI figure fell to 51.2, down from 55.1 in the previous month, which exceeded the analytics forecast of 54.5 by a considerable margin. This leading indicator suggests a possible recession, with the slowest growth in the services sector over the past three months. As a result, the NASDAQ experienced a slight decline (opening at 12081 and closing at 11996, down by 0.7%), while BTC also decreased by 1.1% (opening at 28568 and closing at 28240).