04:09 PM EST, 03/04/2024 (MT Newswires) -- US equity markets ended lower Monday as investors awaited Federal Reserve Chair Jerome Powell's two-day testimony to Congress to gauge the timing and extent of interest-rate cuts later this year.

* Apple ( AAPL ) was fined more than 1.8 billion euros ($1.96 billion) by the European Union's executive arm for allegedly abusing its market position for the distribution of music streaming apps. Shares of the iPhone maker were fractionally lower.

* The Supreme Court reversed Colorado's decision that barred Republican front-runner Donald Trump from appearing on the state's presidential primary ballot.

* April West Texas Intermediate crude oil closed down $1.18 to $78.79 per barrel, while May Brent crude, the global benchmark, was last seen down $0.69 to $82.86 after OPEC+ on Sunday said it will extend the cuts through June.

* JetBlue Airways ( JBLU ) terminated its $3.8 billion proposed acquisition to buy Spirit Airlines ( SAVE ) amid regulatory hurdles after the US Justice Department blocked the deal in January on antitrust concerns. Shares of JetBlue ( JBLU ) rose 4.3%, while Spirit dropped nearly 11%.

* Macy's (M) shares jumped past 13% after the company said late Sunday that it received a revised, nonbinding proposal from Arkhouse Management and Brigade Capital Management to acquire the company for $24 per share in cash.