US Equity Markets End Higher After Strong Services, Jobs Data

MT Newswires Live

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US equity indexes ended higher Wednesday, lifted by strong services and jobs data and by new US plans to bolster shipping security in the Strait of Hormuz.

* The Institute for Supply Management's US services index rose to 56.1 in February from 53.8 in January, beating expectations of 53.5 in a Bloomberg survey and marking the strongest reading since July 2022.

* ADP's monthly measure of private payrolls showed a 63,000 increase in February, above the 50,000 expected in a Bloomberg survey.

* April West Texas Intermediate crude oil rose $0.65 to settle at $75.21 per barrel, while May Brent crude, the global benchmark, was last seen up $0.28 at $81.68.

* Moderna (MRNA) shares rose 16% a day after the company entered into a settlement agreement with Arbutus Biopharma and Genevant Sciences, resolving all litigation.

* Brown-Forman's (BF.A, BF.B) shares fell 6.6% after the company reiterated its full-year outlook for organic sales to decline amid a challenging operating environment.

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