04:09 PM EDT, 05/30/2024 (MT Newswires) -- US benchmark stock indexes ended lower Thursday as official data showed that Q1 economic growth was slower than initially projected.

* US real gross domestic product increased at an annual rate of 1.3% in the March quarter, compared with an initially projected rate of 1.6%, according to a second estimate released by the Bureau of Economic Analysis. The latest print matched the consensus compiled by Bloomberg. Stifel said in a note that the latest reading marks the weakest quarterly pace since the second quarter of 2022.

* The Federal Reserve's current monetary policy stance is "well positioned" to continue the progress policymakers have made toward achieving their goals, New York Fed President John Williams said. "The behavior of the economy over the past year provides ample evidence that monetary policy is restrictive in a way that helps us achieve our goals."

* July West Texas Intermediate crude oil fell $1.35 to $77.88 per barrel, while July Brent crude, the global benchmark, was last seen down $1.70 to $81.90.

* Summit Therapeutics ( SMMT ) stocks soared 272% after the company said its therapy ivonescimab beat Merck's ( MRK ) pembrolizumab in treating a type of lung cancer -- meeting the main goal of a late-stage study.

* Salesforce ( CRM ) shares plummeted 20% after the company's fiscal Q2 guidance late Wednesday trailed the average analyst estimate compiled by Capital IQ.

Price: 11.34, Change: +0.42, Percent Change: +3.85