04:15 PM EDT, 03/27/2024 (MT Newswires) -- US equity markets ended higher Wednesday ahead of a fresh reading on Q4 economic growth on Thursday.

* Mortgage applications fell 0.7% in the week ended March 22 after a 1.6% drop in the previous week as homebuyers and homeowners are holding out for lower rates and increased home inventories, the Mortgage Bankers Association said.

* The collapse of the Francis Scott Key Bridge in Baltimore is expected to have a significant impact on shipping on the East Coast with some estimates suggesting an economic loss of $217 million every day the port is closed, as well as the impact to related jobs, Stifel said Wednesday in a report.

* May West Texas Intermediate crude oil rose $0.08 to $81.70 a barrel, while May Brent crude, the global benchmark, was last seen up $0.02 to $86.27 after the Energy Information Administration said US oil inventories unexpectedly rose last week.

* Coinbase (COIN) shares fell 3.8% after a federal judge ruled the cryptocurrency company offers and sells securities under US law and allowed a lawsuit by the US Securities and Exchange Commission against the company to proceed.

* Moderna ( MRNA ) will receive up to $750 million from Blackstone (BX) Life Sciences to fund influenza vaccine research. Shares of Moderna ( MRNA ) rose 3%, and Blackstone gained 2.4%.