04:12 PM EDT, 06/27/2024 (MT Newswires) -- US benchmark equity indexes ended higher Thursday as markets evaluated the latest economic data and remarks by a Federal Reserve official.

* The US economy grew at a 1.4% annualized rate in calendar Q1, up from a 1.3% gain projected previously, according to a third estimate by the Bureau of Economic Analysis. The latest reading matched a consensus compiled by Bloomberg and marked the weakest quarterly pace since Q2 2022.

* Atlanta Fed President Raphael Bostic said he still believes the Federal Open Market Committee could start easing monetary policy in calendar Q4. "Taking all the circumstances into account, I continue to believe conditions will likely call for a cut in the federal funds rate in the fourth quarter of this year," Bostic said.

* August West Texas Intermediate crude oil rose $1.02 to $81.92 per barrel, while August Brent crude, the global benchmark, was last seen up $1.21 at $86.46 as traders continued to bet on solid summer demand even as US inventories of oil and gasoline rose last week.

* McCormick ( MKC ) shares rose 4% after the spices and seasonings producer maintained its full-year outlook amid improving volume trends as fiscal Q2 results came in better than expected.

* Walgreens Boots Alliance ( WBA ) shares plunged 22% after the drug-store operator slashed its full-year earnings outlook amid "challenging" pharmacy industry trends and a worsening retail environment.