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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
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.Tokyo’s Nikkei 225 climbed 0.3% to 38,079.
70 and the Hang Seng in Hong Kong gained 1.3% to 16,468.07.South Korea’s Kospi led the region’s gains, surging 2.2% to 2,642.02.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%.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 8 cents to $82.77 per barrel. It had lost $2.67 on Wednesday.Takeaways from this week’s reports on the deadly 2023 Maui fire that destroyed Lahaina HONOLULU — More than half a year after the deadliest U.S. wildfire in more than a century burned through a historic Maui town, officials are still trying to determine exactly what went wrong and how to prevent similar catastrophes in the future. But two reports released this week are filling in some of the BOSTON — An Oklahoma man was arrested Wednesday after authorities accused him of throwing a pipe bomb at the Massachusetts headquarters of a group called The Satanic Temple. The Salem-based group says on its website that it campaigns for secularism and individual liberties, and that its members don’t actually worship Satan. Sean Patrick Palmer, PHOENIX — Democrats in the Arizona Senate cleared a path to bring a proposed repeal of the state’s near-total ban on abortions to a vote after the state’s highest court concluded the law can be enforced and the state House blocked efforts to undo the long-dormant statute. Although no vote was taken on the HARTFORD, Conn. — Ellen Ash Peters, who was the first woman to serve as Connecticut’s chief justice and wrote the majority opinion in the state Supreme Court’s landmark school desegregation ruling in 1996, has died. She was 94. Peters, who also was the first female faculty member at Yale Law School, passed away Tuesday, BERLIN, Vt. — Hundreds of Vermont farms are still recovering from last July’s catastrophic flooding and other extreme weather as they head into this year’s growing season. Dog River Farm, in Berlin, Vermont, lost nearly all its produce crops in the July flooding. The farm removed truckloads of river silt and sand from the PHILADELPHIA — A federal appeals court on Wednesday affirmed a lower court’s decision to order New Jersey Democrats scrap a ballot design widely viewed as helping candidates with establishment backing. The 3rd Circuit Court of Appeals considered a slimmed-down appeal brought by the Camden County Democrats after the county clerks — the officials charged The Museum of Pop Culture invites you to experience pop culture like never before with its new exhibition"Massive: The Power of Pop Culture."In the heart of Kitsap County, a financial institution is making waves not just as a banking entity but as a beacon of community support.My journey led me to Kitsap Credit Union, a not-for-profit, forward-thinking financial co-op that’s been serving its members since 1934.Seattle Sports host Brock Huard joins other NFL punters in partnership with Compassion in a cause now known as “Punts For Purpose.”Washington's crime crisis continues to worsen, and locals are turning to whatever tools they can use to keep them safe.Medicare’s annual open enrollment period runs Oct. 15 through Dec. 7. This is the time to review your current Medicare coverage.
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