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US ISM manufacturing index and JOLTS both miss but prices shoot higher- Nasdaq 100 lower

The April US manufacturing index was forecast to slip back to around 50, from a prior reading of 50.3. It has just been released at. 49.2 which was quite a miss. The prices paid index rose significantly though. That shot higher to 60.9. The JOLTS data was surprisingly weak too. That was at 8.488 million and well below the 8.69 million forecast. Prior to that the US equity markets did open lower, and the Nasdaq 100 was the weakest of the three major indexes in the first 30 minutes of live trading. The price action since these reports has been mixed with some pretty wild swings, given the conflicting nature of this data. The US bond markets liked the data, which is a little odd given the higher inflation component. It is also rather unclear as to what the Fed will make of this data too. The Nasdaq 100 reopened today at 17,382. It is currently trading at 17,345

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