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April 6th - The U.S. service sector economy slowed its expansion in March, with employment falling by the largest margin since 2023 and input prices rising sharply. According to data released Monday, the Institute for Supply Management (ISM) services price index rose to 70.7, the highest since October 2022, up 7.7 percentage points from the previous month, the largest increase in nearly 14 years. The ISM services index fell 2.1 percentage points to 54, mainly due to weak employment and slower business activity growth. Businesses were pressured by a sharp rise in energy and other input costs due to the war in Iran. The services employment index fell 6.6 percentage points to 45.2, one of the largest monthly declines since the COVID-19 pandemic. The business activity index fell 6 percentage points to 53.9, the largest decline since mid-2024. The supplier deliveries index rose to its highest level since October 2024. New orders for service providers saw their strongest growth in more than three years.

The U.S. Treasury selected Bank of New York Mellon (BK.N) and Robinhood (HOOD.O) to participate in the Trump Account program.

U.S. Treasury yields fell after the release of U.S. services data; the 10-year Treasury yield was last down 0.9 basis points to 4.337%.

The U.S. ISM non-manufacturing supplier deliveries index for March was 56.2, compared to 53.9 in the previous month.

The U.S. ISM non-manufacturing inventory index for March was 54.8, compared to 56.4 in the previous month.

The U.S. Conference Board Employment Trends Index for March was 105.72, compared to 105.37 in March.

The U.S. ISM non-manufacturing price index for March was 70.7, compared to 63 in the previous month.

The U.S. ISM non-manufacturing employment index for March was 45.2, compared to 51.8 in the previous month.

Invesco shares fell 3.9% as it filed for a Nasdaq 100 index fund, intensifying competition with Invesco.

On April 6, Russian Foreign Ministry spokeswoman Maria Zakharova stated that Russia views the cooperation between Japan and Ukraine in the field of drones as an openly hostile act. This comes after a Japanese drone manufacturer announced a cooperation agreement with a Ukrainian drone developer.

Soleno shares opened 33% higher, marking their biggest intraday gain since March 2025. Neurocrine Biosciences announced on Monday that it will acquire Soleno Therapeutics for $2.9 billion in cash.

Canada's S&P Global Composite PMI for March was 47.6, compared to 47.1 in the previous month.

Wells Fargo downgraded its rating on the S&P 500 Energy and Commodities sector from Neutral to Negative.

On April 6, local time, a petrochemical complex in the southern Iranian city of Marfdasht was attacked by the US and Israel, causing a large fire. The fire is reportedly under control and no major damage has been reported. Earlier reports indicated that petrochemical facilities in South Pars and Asaluyeh in Iran's Bushehr province were also attacked that day.