04:01 PM EST, 11/27/2024 (MT Newswires) -- US benchmark equity indexes ended lower Wednesday as traders assessed the latest economic data before the Thanksgiving holiday.

* US consumer spending growth slowed as expected in October, while the Federal Reserve's preferred inflation metric accelerated at the annual level, government data showed.

* "Today's report underscores the ongoing resilience of US consumers with a large income gain and solid consumer spending in October," TD Economics said in a report. "On the flip side, inflation has also remained firm, chipping away at the real gains."

* The odds that the Federal Open Market Committee will lower its benchmark lending rate by 25 basis points next month jumped to 70% Wednesday from 59% Tuesday, according to the CME FedWatch tool. The probability of rates remaining unchanged at 4.5% to 4.75% fell to 30% from 41%.

* January West Texas Intermediate crude oil closed down $0.05 to settle at $68.72 per barrel, while January Brent crude, the global benchmark, was last seen down $0.05 to $72.76 even after a report showed a drop in U.S oil inventories last week, while OPEC+ will meet over the weekend to consider its plan to begin returning 2.2 million b/d of production cuts to the market.

* Walt Disney ( DIS ) agreed to pay $43.3 million to settle a lawsuit alleging that its female workers in California were paid $150 million less than their male counterparts over an eight-year period, Reuters reported, citing a statement by the plaintiffs' lawyers. Disney ( DIS ) shares rose 1.9%.

* Dell Technologies ( DELL ) shares plunged 12% as the computer manufacturer reported weaker-than-expected revenue for its fiscal Q3 amid a drop in its client solutions division and offered conservative guidance that Morgan Stanley said disappointed the market.