04:09 PM EDT, 04/03/2024 (MT Newswires) -- US equity markets ended mixed Wednesday as Federal Reserve Chairman Jerome Powell reiterated comments on potential interest rate cuts in 2024.

* Powell repeated his previous comments that the Fed will likely cut interest rates this year after it has seen more evidence that inflation is slowing but said that decisions will be made on a meeting-by-meeting basis. Powell noted that recent data has been stronger than expected but suggested that it has not altered the overall picture of the economy.

* The ISM's services index fell to 51.4 in March from 52.6 in February, with gains in the readings for production and employment but declines in the measures of new orders and prices. The consensus was for a reading of 52.8 in a survey compiled by Bloomberg.

* May West Texas Intermediate crude oil closed up $0.40 to $85.55 per barrel, while June Brent crude, the global benchmark, was last seen up $0.53 to $89.45 after the Energy Information Administration reported an unexpected rise in US oil inventories.

* Ford Motor ( F ) shares rose 3% after the automaker said Ford and Lincoln sales increased by 7% in Q1. The company also said it recorded its "best-ever" quarterly hybrid sales figures.

* Trump Media and Technology Group ( DJT ) is suing its co-founders and seeking to ban them from owning any shares of the company for their alleged mismanagement of the company's emergence on the stock market, according to a court filing. Shares of the company were down more than 5%.