S&P 500 Dips 0.36% in Mixed Post-Fed Reaction to Powell Farewell

The S&P 500 closed down 0.36% in a mixed market reaction after the Federal Reserve held rates steady in Chair Powell's final FOMC meeting. A 5% surge in WTI crude oil, driven by US actions near the Strait of Hormuz, boosted inflation expectations and lifted the 10-year Treasury yield ~4.4 bps to 4.39%—a four-week high—pressuring the Dow (-0.78%) while Nasdaq 100 eked out +0.09% gains on tech strength. Positive offsets included US March housing starts jumping 10.8% to 1.502 million and 80% of reporting S&P 500 firms beating Q1 estimates, with NXP soaring 24%. Focus shifts to Powell's remarks, Warsh nomination, and tech earnings.