04:07 PM EDT, 04/01/2025 (MT Newswires) -- US benchmark equity indexes ended mixed Tuesday ahead of the president's planned 'Liberation Day' announcement Wednesday to set fresh levies on countries and products.

* President Donald Trump's planned reciprocal tariffs will be effective immediately as they are announced Wednesday, CNBC reported, citing White House Press Secretary Karoline Leavitt.

Separately, The Washington Post reported, citing unnamed sources, that White House aides have drafted a proposal that would impose tariffs of about 20% on most imports.

* The US manufacturing sector fell into contraction territory in March amid weak demand, according to the Institute for Supply Management, while S&P Global (SPGI) data showed activity stalling.

"Demand and production retreated and destaffing continued, as panelists' companies responded to demand confusion," said Timothy Fiore, chair of the ISM's manufacturing business survey committee. "Prices growth accelerated due to tariffs, causing new order placement backlogs, supplier delivery slowdowns and manufacturing inventory growth."

* May West Texas Intermediate crude oil closed down $0.26 to settle at $71.22 per barrel, while June Brent crude, the global benchmark, was last seen down $0.30 to $74.47 after President Trump threatened secondary tariffs on imports from countries that buy Russian oil.

* PVH (PVH) shares jumped over 18%. The clothing company late Monday offered a full-year earnings outlook above market expectations on the back of better-than-expected fiscal Q4 results.

* Johnson & Johnson ( JNJ ) shares declined 7.2%. The company said late Monday that the US Bankruptcy Court for the Southern District of Texas denied its Red River Talc unit's request to confirm its proposed prepackaged bankruptcy plan.