04:16 PM EDT, 04/17/2024 (MT Newswires) -- US equity markets ended lower Wednesday as investors weighed quarterly earnings following Federal Reserve Chair Jerome Powell's recent comments on inflation the day before.

* The Federal Reserve's Beige Book showed "slight or modest" economic growth in most of the Fed districts since late February, with only slight increases in consumer spending and home building but a further decline in manufacturing activity. Employment rose slowly, wages were up moderately and prices advanced modestly.

* The Mortgage Bankers Association reported a 3.3% gain in mortgage applications in the week ended April 12 after a 0.1% gain in the previous week.

* May West Texas Intermediate crude oil closed down $2.61 to $82.75 per barrel, while June Brent crude, the global benchmark, was last seen down $2.64 to $87.38 after the Energy Information Administration reported a larger-than-expected rise in US inventories last week.

* ASML Holding ( ASML ) shares fell more than 7% after the company reported lower Q1 earnings and sales.

* First Horizon ( FHN ) shares were up 1.8% after the company's Q1 adjusted earnings exceeded analysts' estimates despite a year-over-year decline.