Asian shares advanced on Thursday even after sinking technology stocks sent Wall Street lower in the S&P 500's worse losing streak since the start of the year.
U.S. futures were lower, while oil prices gained.
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Asian shares advanced on Thursday even after sinking technology stocks sent Wall Street lower in the S&P 500's worse losing streak since the start of the year.
People pass the New York Stock Exchange, right, on Wednesday, April 17, 2024 in New York. Global shares are trading mixed after most U.S. stocks slipped on firmer expectations that the Fed is committed to its current rate practices.(AP Photo/Peter Morgan)
A currency trader passes by the screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, April 17, 2024. (AP Photo/Ahn Young-joon)
A currency trader watches monitors near the screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, April 17, 2024. (AP Photo/Ahn Young-joon)
Currency traders pass by the screen showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, April 17, 2024. (AP Photo/Ahn Young-joon)
Tokyo's Nikkei 225 climbed 0.3% to 38,090.87 and the Hang Seng in Hong Kong gained 1.5% to 16,489.59.
The Shanghai Composite index added 0.6% to 3,089.93.
South Korea's Kospi led the region's gains, surging 1.8% to 2,631.15.
In Australia, the S&P/ASX 500 rose 0.6% to 7,651.30.
On Wednesday, the S&P 500 lost 0.6%, to 5,022.21. It's down 4.4% since setting a record late last month.
The Dow Jones Industrial Average slipped 0.1% to 37,753.31, and the Nasdaq composite sank 1.1% to 15,683.37.
Tech stocks slumped after ASML, a Dutch company that’s a major supplier to the semiconductor industry, reported weaker orders for the start of 2024 than analysts expected. Its stock trading in the United States slumped 7.1%.
Nvidia dropped 3.9%, and Broadcom sank 3.5% to serve as the two heaviest weights on the S&P 500.
The weakness for tech overshadowed stronger-than-expected profit reports from some big companies, including United Airlines. It soared 17.4% after reporting stronger results for the start of the year than analysts expected, lifted by strong demand from business fliers.
Sharp tumbles for oil prices lessened investors’ worries about inflation, which in turn helped Treasury yields ease.
The 10-year Treasury yield sank to 4.58% from 4.67% late Tuesday. The two-year yield, which moves more closely with expectations for the Fed, fell to 4.92% from 4.99%.
Yields on Tuesday had returned to where they were in November after top officials at the Federal Reserve suggested the central bank may hold its main interest steady for a while. It wants to get more confidence that inflation is sustainably heading toward its target of 2%. Its main interest rate has been sitting at its highest level since 2001.
High interest rates hurt prices for investments and increase the risk of a recession, but Fed officials are concerned after a string of reports this year has shown inflation remaining hotter than forecast.
Traders are now mostly expecting just one or two cuts to interest rates from the Federal Reserve this year, according to data from CME Group. That’s down from forecasts for six or more at the start of the year.
With little near-term help expected from an easing of interest rates, companies will need to deliver fatter profits to justify their big runs in stock price since autumn.
Travelers slumped 7.4% after the insurer’s quarterly results fell short of forecasts. It had to contend with more losses from catastrophes.
J.B. Hunt Transport Services fell 8.1% after reporting weaker revenue and results than expected. It was hurt in part by competition in the eastern part of the country and by higher wages for workers and other costs.
On the winning side of Wall Street was Omnicom Group. It rose 1.6% after reporting stronger profit for the latest quarter than analysts expected. The marketing and communications company highlighted growth trends in most markets around the world, outside the Middle East and Africa.
The stock of Donald Trump’s social media company also continued to swing sharply, this time jumping 15.6%. That followed two straight losses of more than 14%. Experts say the stock is caught up in frenzied trading driven more by public sentiment around the former president than by the business prospects of the company.
In oil trading, U.S. benchmark crude picked up 19 cents to $82.88 per barrel. It had lost $2.67 on Wednesday.
Brent crude, the international standard, gained 25 cents to $87.54 per barrel.
The U.S. dollar slipped to 154.19 Japanese yen from 154.38 yen. The euro rose to $1.0678 from $1.0673.
AP Business Writer Stan Choe contributed.
FILE - A person looks at an electronic stock board showing Japan's Nikkei 225 index at a securities firm Tuesday, April 16, 2024, in Tokyo. Asian shares advanced on Thursday even after sinking technology stocks sent Wall Street lower in the S&P 500's worse losing streak since the start of the year. (AP Photo/Eugene Hoshiko, File)
People pass the New York Stock Exchange, right, on Wednesday, April 17, 2024 in New York. Global shares are trading mixed after most U.S. stocks slipped on firmer expectations that the Fed is committed to its current rate practices.(AP Photo/Peter Morgan)
A currency trader passes by the screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, April 17, 2024. (AP Photo/Ahn Young-joon)
A currency trader watches monitors near the screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, April 17, 2024. (AP Photo/Ahn Young-joon)
Currency traders pass by the screen showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, April 17, 2024. (AP Photo/Ahn Young-joon)
CHARLOTTE, N.C. (AP) — Four law officers serving a warrant for a felon wanted for possessing a firearm were killed and four other officers were wounded in a shootout Monday at a North Carolina home, police said.
Some of the officers who rushed to the Charlotte neighborhood to rescue the first wave of downed officers were wounded as a second shooter began firing on them after they killed the wanted man, Charlotte-Mecklenburg Police Chief Johnny Jennings said.
“Today we lost some heroes who were out simply trying to keep our community safe,” Jennings said at a news conference.
After a three-hour standoff, the suburban Charlotte home was torn open. Armored vehicles smashed into it, ripping off windows and entire doorways that were left broken. Several armored vehicles were parked across yards, some with tree branches dangling off them.
The U.S. Marshals Task Force was fired on by the wanted suspect as they approached the house and the man was killed in the front yard, Jennings said. His name was not released, but the chief said he was wanted as a felon illegally possessing a weapon.
A second person then fired on officers from inside the home where a high-powered rifle was found, Jennings added.
A woman and a 17-year-old male were found in the home after the standoff. The two are being questioned, Jennings said.
The Marshal’s Service confirmed one of its agents was killed. Two officers from the state Department of Adult Correction also were killed, said North Carolina Gov. Roy Cooper. The governor was in Charlotte and was speaking to the families of the officers killed and hurt. Their names have not been released.
Charlotte-Mecklenburg police officer Joshua Eyer died a few hours later at the hospital, Jennings said. Eyer was named the officer of the month for the force for April a few weeks ago, the chief said.
“He certainty gave his life and dedicated his life to protecting our citizens,” Jennings said.
One other member of the task force, which is made up of federal agents and other officers from across the region was injured.
Three other Charlotte-Mecklenburg police officers who responded to the scene were shot while trying to rescue the wounded officers.
Neighbors said gunfire lasted for several minutes.
WSOC-TV said their helicopter captured an armored vehicle driving through yards and knocking over recycling bins before officers removed a person with blood on their shirt who was then loaded into an ambulance.
After the home was cleared, the helicopter pilot said he couldn't show the front lawn of the home because the scene was too graphic and disturbing.
“A lot of the questions that need to be answered, we don’t even know what those questions are now," Jennings said, somberly briefing reporters less than four hours after the shooting. “We have to get a full understanding of why this occurred and also uphold the integrity of the investigation.”
Many roads in the area including Interstate 77 were closed so ambulances could get to hospitals faster. TV footage showed ambulances speeding to hospitals escorted by vehicles both in front and behind with their sirens wailing.
Rissa Reign was cleaning her house when she heard the first shots ring out. There was a pause, then a second set of shots and then a third. She stepped outside.
“When we came outside, there were no cops at all, then cops started rushing, rushing, rushing, rushing in,” she said, adding armored SWAT trucks quickly followed and they "were going over the grass, everything, and they started shooting again.”
The neighborhood, of one– and two-story, brick homes and small trimmed lawns, is very safe, said Alex Rivera, who lives on a street nearby.
“I see, like, 50 police cars zooming in, and then I hear gunshots,” he said on the front porch of the house he shares with his cousin. “I was scared, because there was so much going on.“
Another neighbor, William Cunningham, was moved to tears as he sat on his porch. He said he is a veteran of Operation Desert Storm but never expected such violence in his own neighborhood.
“Bless those officers and bless their families,” he said. “Nobody should get killed over a warrant.”
Four Charlotte-Mecklenburg Schools were placed on lockdown around afternoon dismissal, but that was lifted in the late afternoon, the district said.
Police urged people to stay away from the neighborhood and asked residents to remain inside their homes until the all clear was given.
President Joe Biden was briefed on the shooting and spoke with Charlotte Mayor Vi Lyles to express his condolences and support for the community.
The last marshal shot and killed in the line of duty was in November 2018. Chase White was shot in Tucson, Arizona, by a man wanted for stalking local law enforcement officers, the agency said.
The Carolinas Regional Fugitive Task Force is headquartered in Charlotte and comprised of 70 federal, state and local agencies. Fugitive task forces are collaborations between agencies to find and arrest suspects in crimes.
In six years, the regional task force has apprehended more than 8,900 fugitives, the U.S. Marshals Service said on its website.
In March 2007, two Charlotte-Mecklenburg Police officers were killed while responding to a domestic dispute by someone not directly involved in the fight. Demeatrius Antonio Montgomery is serving a life sentence in the killings of officers Jeffrey Shelton and Sean Clark.
Contributing to this report were Jeffrey Collins in Columbia, South Carolina; Rebecca Reynolds in Louisville, Kentucky; and Sarah Brumfield in Silver Spring, Maryland.
Charlotte Mecklenburg Police Department officers walk in the neighborhood where a shooting took place in Charlotte, N.C., Monday, April 29, 2024. The Charlotte-Mecklenburg Police Department says officers from the U.S. Marshals Task Force were carrying out an investigation Monday afternoon in a suburban neighborhood when they came under gunfire. (AP Photo/Nell Redmond)
Multiple law enforcement vehicles respond in the neighborhood where several officers on a task force trying to serve a warrant were shot in Charlotte, N.C., Monday, April 29, 2024. (Melissa Melvin-Rodriguez/The Charlotte Observer via AP)
Charlotte Mayor Vi Lyles gets choked up as she speaks at a press conference regarding a shooting in Charlotte, N.C., Monday, April 29, 2024. Several officers on a U.S. Marshals Task Force serving a warrant for a felon wanted for possessing a firearm were killed and other officers were wounded in a shootout Monday in North Carolina, home, police said. (AP Photo/Nell Redmond)
Charlotte Mecklenburg Police Chief Johnny Jennings, center, leaves the scene where multiple law enforcement officers were shot on Galway Drive in Charlotte, N.C. on Monday, April 29, 2024. Several officers on a U.S. Marshals Task Force serving a warrant for a felon wanted for possessing a firearm were killed and other officers were wounded in a shootout Monday in a North Carolina, home, police said. (Khadejeh Nikouyeh/The Charlotte Observer via AP)
Members of FBI talk with each other at the scene of a shooting on Galway Drive in Charlotte, N.C., on Monday, April 29, 2024, Multiple law enforcement officers were shot while serving a warrant for a felon wanted for possessing a firearm. (Khadejeh Nikouyeh/The Charlotte Observer via AP)
A law officer walks away from the scene of a shooting where multiple law enforcement officers were shot while serving a warrant for a felon wanted for possessing a firearm in Charlotte, N.C., on Monday, April 29, 2024. (Khadejeh Nikouyeh/The Charlotte Observer via AP)
Charlotte-Mecklenburg Police Chief Johnny Jennings speaks at a press conference after multiple officers were shot while serving a warrant in Charlotte, N.C., Monday, April 29, 2024. (AP Photo/Nell Redmond)
Charlotte-Mecklenburg Police Chief Johnny Jennings speaks at a press conference regarding an event where several officers on a task force trying to serve a warrant were shot in Charlotte, N.C., Monday, April 29, 2024. (AP Photo/Nell Redmond)
Charlotte Mayor Vi Lyles gets choked up as she speaks at a press conference regarding a shooting in Charlotte, N.C., Monday, April 29, 2024. Several officers on a U.S. Marshals Task Force serving a warrant for a felon wanted for possessing a firearm were killed and other officers were wounded in a shootout Monday in North Carolina, home, police said. (AP Photo/Nell Redmond)
Charlotte fire department captain Brian Cunningham, right, hugs Charlotte-Mecklenburg Police Chief Johnny Jennings at a press conference regarding a shooting in Charlotte, N.C., Monday, April 29, 2024. Several officers on a U.S. Marshals Task Force serving a warrant for a felon wanted for possessing a firearm were killed and other officers were wounded in a shootout Monday in North Carolina, home, police said. (AP Photo/Nell Redmond)
A Charlotte Mecklenburg police officer walks in the neighborhood where several officers on a task force trying to serve a warrant were shot in Charlotte, N.C., Monday, April 29, 2024. (AP Photo/Nell Redmond)
A Charlotte neighborhood where an officer-involved shooting took place in Charlotte, N.C., Monday, April 29, 2024. The Charlotte-Mecklenburg Police Department says officers from the U.S. Marshals Task Force were carrying out an investigation Monday afternoon in a suburban neighborhood when they came under gunfire. (AP Photo/Nell Redmond)
A Charlotte Mecklenburg police officer walks in the neighborhood where several officers on a task force trying to serve a warrant were shot in Charlotte, N.C., Monday, April 29, 2024. (AP Photo/Nell Redmond)
University of South Florida police officers take pro Palestinian protesters into custody during a march on the campus Monday, April 29, 2024 in Tampa. (Chris Urso/Tampa Bay Times via AP)
A Charlotte Mecklenburg police officer walks carrying a gun in the neighborhood where a shooting took place in Charlotte, N.C., Monday, April 29, 2024. The Charlotte-Mecklenburg Police Department says officers from the U.S. Marshals Task Force were carrying out an investigation Monday afternoon in a suburban neighborhood when they came under gunfire. (AP Photo/Nell Redmond)
A Charlotte Mecklenburg police officer walks in the neighborhood where a shooting took place in Charlotte, N.C., Monday, April 29, 2024. The Charlotte-Mecklenburg Police Department says officers from the U.S. Marshals Task Force were carrying out an investigation Monday afternoon in a suburban neighborhood when they came under gunfire. (AP Photo/Nell Redmond)
A Charlotte Mecklenburg police officer walks carrying a gun in the neighborhood where a shooting took place in Charlotte, N.C., Monday, April 29, 2024. The Charlotte-Mecklenburg Police Department says officers from the U.S. Marshals Task Force were carrying out an investigation Monday afternoon in a suburban neighborhood when they came under gunfire. (AP Photo/Nell Redmond)
A Charlotte Mecklenburg Police Department officer walks carrying a gun in the neighborhood where a shooting took place in Charlotte, N.C., Monday, April 29, 2024. CMPD says officers from the U.S. Marshals Task Force were carrying out an investigation Monday afternoon in a suburban neighborhood when they came under gunfire. (AP Photo/Nell Redmond)
Multiple law enforcement vehicles respond in the neighborhood where several officers on a task force trying to serve a warrant were shot in Charlotte, N.C., Monday, April 29, 2024. (Melissa Melvin-Rodriguez/The Charlotte Observer via AP)
Multiple law enforcement vehicles respond in the neighborhood where several officers on a task force trying to serve a warrant were shot in Charlotte, N.C., Monday, April 29, 2024. (Khadejeh Nikouyeh/The Charlotte Observer via AP)
A Charlotte Mecklenburg police officer carries a gun as he walks in the neighborhood where an officer-involved shooting took place in Charlotte, N.C., Monday, April 29, 2024. Police in North Carolina say numerous law enforcement officers conducting a task force operation have been struck by gunfire in Charlotte. (AP Photo/Nell Redmond)
Charlotte Mecklenburg Police Department is responding to shots fired on Galway Drive in Charlotte, N.C., Monday, April 29, 2024. Officers from the U.S. Marshals Task Force were conducting an investigation in a suburban neighborhood when they were fired upon, the CMPD said in a post on X, formerly Twitter. (Melissa Rodriguez/The Charlotte Observer via AP)
Police work at the scene of a shooting Monday, April 29, 2024, in east Charlotte, N.C. Officers from the U.S. Marshals Task Force were conducting an investigation in a suburban neighborhood when they were fired upon, the CMPD said in a post on X. (Khadejeh Nikouyeh/The Charlotte Observer via AP)
Multiple law enforcement officers were shot Monday, April 29, 2024, in east Charlotte, N.C., the Charlotte Mecklenburg Police Department said. Officers from the U.S. Marshals Task Force were conducting an investigation in a suburban neighborhood when they were fired upon, the CMPD said in a post on X, formerly Twitter. (Khadejeh Nikouyeh/The Charlotte Observer via AP)
