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FINWIRES

US Equity Markets Mixed as Crude Oil Surges, Fed Holds Rates Steady

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-- US equity indexes were mixed on Wednesday after crude oil prices and government bond yields rose amid the increasing likelihood that the Strait of Hormuz will remain blocked and the Fed maintained interest rates unchanged.

* President Donald Trump has instructed aides to prepare for an extended blockade of Iran, US officials told The Wall Street Journal.

* The Federal Open Market Committee maintained its federal funds rate target at 3.50% to 3.75%, as expected, but four officials dissented, according to its statement Wednesday.

* US March housing starts jumped almost 11% to a 1.502 million annual rate from a 1.356 million pace in February, above the 1.38 million rate expected in a Bloomberg-compiled survey.

* June West Texas Intermediate crude oil rose $8.01 to settle at $107.94 per barrel, while June Brent crude, the global benchmark, was last seen up $8.69 at $119.95.

* NXP Semiconductors (NXPI) shares were up roughly 25% after the company reported overnight higher Q1 non-GAAP earnings and revenue that beat analysts' forecasts in addition to setting higher-than-expected Q2 guidance.

* Robinhood (HOOD) shares fell nearly 13% after it reported Q1 earnings and revenue that missed analysts' expectations.

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