04:12 PM EDT, 04/04/2024 (MT Newswires) -- US equity markets ended lower Thursday after initial jobless claims jumped to the highest level since January.

* Initial jobless claims increased by 9,000 to 221,000 in the week ended March 30, lifting the four-week moving average by 2,750 to 214,250, the Department of Labor said. The consensus for initial jobless claims was 214,000 in a Bloomberg survey.

* Richmond Fed President Tom Barkin (voter) said the FOMC can be patient when considering interest-rate cuts as recent data indicated an economic slowdown may be just a momentary lapse.

* May West Texas Intermediate crude oil closed up $1.32 to $86.75 per barrel, while June Brent crude, the global benchmark, was last seen up $1.55 to $90.90 as tensions mount between Iran and Israel.

* Ford Motor ( F ) is delaying the start of electric vehicle production by two years at its plant in Oakville, Ontario, The Canadian Press reported. Shares of the automaker fell 3.2%.

* Levi Strauss (LEVI) reported fiscal Q1 adjusted earnings and sales late Wednesday that beat market expectations. Shares of the company jumped 12%.