04:11 PM EDT, 04/11/2024 (MT Newswires) -- US equity markets closed mixed Thursday following the wholesale producer price inflation data for March.

* The US producer price index increased 2.1% year-over-year in March, accelerating from 1.6% in February. The estimate in a Bloomberg survey was 2.2%. Core PPI rose 2.4% from 2.1% and compared with the 2.3% in the poll.

* The Federal Open Market Committee will continue to monitor incoming data due to the uncertainty in the economic outlook, New York Fed President John Williams said. Williams said in prepared remarks that he expects inflation to continue to ease toward the 2% goal with "bumps along the way, as we've seen in some recent inflation readings."

* May West Texas Intermediate crude oil closed down $0.60 to 85.61 per barrel, while June Brent crude, the global benchmark, fell $0.23 to $90.25.

* Aptevo Therapeutics ( APVO ) slumped 60% after the company priced a public offering to raise $4.6 million.

* Rallybio ( RLYB ) soared more than 75% after the company unveiled a collaboration with Johnson & Johnson ( JNJ ) to develop therapies for fetal and neonatal alloimmune thrombocytopenia and a $6.6 million investment from the company.