Gun found on suspect in killing of UnitedHealthcare CEO matches shell casings at scene, police say

ALTOONA, Pa. (AP) — The gun found on the suspect in the killing of United Healthcare’s CEO matched shell casings found at the site of the shooting, New York City’s police commissioner said Wednesday.

Suspect Luigi Mangione ’s fingerprints also matched a water bottle and a snack bar wrapper that police found near the scene in midtown Manhattan, Commissioner Jessica Tisch said at an unrelated news conference. Police had said earlier that they believed the gunman bought the items at a nearby coffee shop while awaiting his target.

Mangione, 26, was charged with murder in last week's shooting of Brian Thompson, who led the United States’ largest medical insurance company.

Authorities have said that writings found in Mangione's possession hinted at a hatred of corporate greed.

They’ve recovered a spiral notebook that Mangione kept, along with a three-page, handwritten letter found when he was arrested Monday in Pennsylvania, a law enforcement official said Wednesday. Police have not disclosed what was in the notebook.

The letter teased the possibility that clues to the attack — “some straggling notes and To Do lists that illuminate the gist of it” — could be found in the notebook, the law enforcement official said. The official wasn’t authorized to disclose information about the investigation and spoke to The Associated Press on condition of anonymity.

The New York Police Department’s top detective, Joseph Kenny, told CBS New York on Tuesday that the motive might have been related to an accident that sent Mangione to an emergency room on July 4, 2023.

A law enforcement bulletin obtained by the AP earlier this week said the letter disdained corporate greed and what Mangione called “parasitic” health insurance companies. The prep school and Ivy League graduate wrote that the U.S. has the most expensive health care system in the world and that major corporations' profits continue to rise while life expectancy doesn't, according to the bulletin.

In his first public words since his arrest, Mangione shouted about an “insult to the intelligence of the American people” on his way into court Tuesday. Mangione remained jailed without bail Wednesday in Pennsylvania, where he was initially charged with gun and forgery offenses.

Manhattan prosecutors were working to bring him to New York. At a brief hearing Tuesday in Pennsylvania, defense lawyer Thomas Dickey said Mangione will not waive extradition and instead wants a hearing on the issue.

“You can’t rush to judgment in this case or any case,” Dickey said afterward. “He’s presumed innocent. Let’s not forget that.”

Mangione was arrested in Altoona, about 230 miles (about 370 kilometers) west of New York City, after a McDonald’s customer recognized him and notified an employee, authorities said.

New York police officials have said Mangione was carrying the gun and the same fake ID the suspected shooter had used to check into a New York hostel, along with a passport and other fraudulent IDs.

Thompson, 50, was killed Dec. 4 as he walked alone to a Manhattan hotel for an investor conference. From surveillance video, New York investigators determined the shooter quickly fled the city, likely by bus.

His movements afterward are unclear, but authorities believe he took steps to stay off the radar. Prosecutors said at his Pennsylvania hearing this week that when arrested, he had bags for his cellphone and laptop that prevent such devices from transmitting signals that authorities can use to track them.

Mangione, a grandson of a well-known Maryland real estate developer and philanthropist, had a graduate degree in computer science and worked for a time at a car-buying website. During the first half of 2022, he bunked at a co-living space in Hawaii, where those who knew him said he suffered from severe and sometimes debilitating back pain.

His relatives have said in a statement that they are was “shocked and devastated" at his arrest.

Sisak reported from New York. Associated Press writer Jennifer Peltz contributed.

This combo image release by Pennsylvania State Police shows Luigi Mangione, a suspect in the fatal shooting of UnitedHealthcare CEO Brian Thompson, at a McDonald's in Altoona, Pa., Monday, Dec. 9, 2024. (Pennsylvania State Police via AP)

This photo, provided by the Hawaii Dept. of Land and Natural Resources, shows Luigi Mangione, a suspect in the fatal shooting of UnitedHealthcare CEO Brian Thompson, receiving a citation for failing to observe a posted closed-area sign, in Honolulu, Sunday, Nov. 12, 2023. (Hawaii Dept. of Land and Natural Resources via AP)

Gov. Josh Shapiro, center, speaks during a press conference regarding the arrest of suspect Luigi Mangione, Monday, Dec. 9, 2024, in Hollidaysburg, Pa., in the fatal shooting of UnitedHealthcare CEO Brian Thompson. (AP Photo/Ted Shaffrey)

Luigi Nicholas Mangione is escorted into Blair County Courthouse, Tuesday, Dec. 10, 2024, in Hollidaysburg, Pa. (AP Photo/Gary M. Baranec)

This booking photo provided by Pennsylvania Department of Corrections on Tuesday, Dec. 10, 2024, shows shows Luigi Mangione, a suspect in the fatal shooting of UnitedHealthcare CEO Brian Thompson. (Pennsylvania Department of Corrections via AP)

Suspect Luigi Mangione is taken into the Blair County Courthouse on Tuesday, Dec. 10, 2024, in Hollidaysburg, Pa. (Janet Klingbeil via AP)

Suspect Luigi Mangione is taken into the Blair County Courthouse on Tuesday, Dec. 10, 2024, in Hollidaysburg, Pa. (Janet Klingbeil via AP)

This booking photo provided by Pennsylvania Department of Corrections on Tuesday, Dec. 10, 2024, shows shows Luigi Mangione, a suspect in the fatal shooting of UnitedHealthcare CEO Brian Thompson. (Pennsylvania Department of Corrections via AP)

Luigi Nicholas Mangione is escorted into Blair County Courthouse, Tuesday, Dec. 10, 2024, in Hollidaysburg, Pa. (AP Photo/Gary M. Baranec)

This booking photo released Monday, Dec. 9, 2024, by the Pennsylvania Department of Corrections shows Luigi Mangione, a suspect in the fatal shooting of UnitedHealthcare CEO Brian Thompson. (Pennsylvania Department of Corrections via AP)

This image taken from video provided by WJAC shows law enforcement officers escorting Luigi Mangione, handcuffed, into a courthouse building in Hollidaysburg, Pa., Monday, Dec. 9, 2024. (WJAC/Pennsylvania Department of Corrections via AP)

This photo provided by Pennsylvania State Police shows Luigi Mangione, a suspect in the fatal shooting of UnitedHealthcare CEO Brian Thompson, at the police station in Altoona, Pa., on Monday, Dec. 9, 2024. (Pennsylvania State Police via AP)

This photo provided by Pennsylvania State Police shows Luigi Mangione, a suspect in the fatal shooting of UnitedHealthcare CEO Brian Thompson, at the police station in Altoona, Pa., on Monday, Dec. 9, 2024. (Pennsylvania State Police via AP)

This image release by Pennsylvania State Police shows a video image of Luigi Mangione, a suspect in the fatal shooting of UnitedHealthcare CEO Brian Thompson, at a McDonald's in Altoona, Pa., Monday, Dec. 9, 2024. (Pennsylvania State Police via AP)

This image release by Pennsylvania State Police shows a video image of Luigi Mangione, a suspect in the fatal shooting of UnitedHealthcare CEO Brian Thompson, at a McDonald's in Altoona, Pa., Monday, Dec. 9, 2024. (Pennsylvania State Police via AP)

Suspect Luigi Mangione is taken into the Blair County Courthouse on Tuesday, Dec. 10, 2024, in Hollidaysburg, Pa. (Benjamin B. Braun/Pittsburgh Post-Gazette via AP)

Suspect Luigi Mangione is taken into the Blair County Courthouse on Tuesday, Dec. 10, 2024, in Hollidaysburg, Pa. (Benjamin B. Braun/Pittsburgh Post-Gazette via AP)

Suspect Luigi Mangione is taken into the Blair County Courthouse on Tuesday, Dec. 10, 2024, in Hollidaysburg, Pa. (Benjamin B. Braun/Pittsburgh Post-Gazette via AP)

Suspect Luigi Mangione is taken into the Blair County Courthouse on Tuesday, Dec. 10, 2024, in Hollidaysburg, Pa. (Benjamin B. Braun/Pittsburgh Post-Gazette via AP)

NEW YORK (AP) — U.S. stock indexes are rising Wednesday after the latest update on inflation appeared to clear the way for more help for the economy from the Federal Reserve.

The S&P 500 gained 0.9% and is on track to break its first two-day losing streak in nearly a month. The Dow Jones Industrial Average fell 7 points, or less than 0.1%, as of 2:45 p.m. Eastern time, and the Nasdaq composite climbed 1.8% and was heading for a record.

Treasury yields edged higher in the bond market as expectations built that Wednesday’s inflation data will allow the Fed to deliver another cut to interest rates at its meeting next week.

Traders are betting on a 95% probability of that, according to data from CME Group, up from 89% a day before. If they’re correct, it would be a third straight cut by the Fed after it began lowering rates in September from a two-decade high. It’s hoping to support a slowing job market after getting inflation nearly all the way down to its 2% target.

Lower rates would give a boost to the economy, but they could also provide more fuel for inflation.

Wednesday’s report said U.S. consumers paid prices in November that were 2.7% higher than a year earlier. That’s a slight acceleration from October’s inflation rate of 2.6%, but it was exactly what economists were expecting. Another report on inflation at the wholesale level will arrive on Thursday.

“The data have given the Fed the ‘all clear’ for next week, and today’s inflation data keep a January cut in active discussion,” according to Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management.

Expectations for a series of cuts to rates by the Fed have been one of the main reasons the S&P 500 has set an all-time high 57 times this year, with the latest coming last week.

On Wall Street, Stitch Fix jumped 47.8% after the company that sends clothes to your door reported a smaller loss for the latest quarter than analysts expected. It also gave financial forecasts for the current quarter that were better than expected, including for revenue.

Albertsons edged down by 0.6% after filing a lawsuit against Kroger, saying it didn’t do enough for their proposed $24.6 billion merger agreement to win regulatory clearance. Albertsons said it’s seeking billions of dollars in damages from Kroger, whose stock rose 0.6%.

A day earlier, judges in separate cases in Oregon and Washington nixed the supermarket giants’ merger. The grocers contended a combination could have helped them compete with big retailers like Walmart, Costco and Amazon, but critics said it would hurt competition.

After terminating the merger agreement Albertsons said it plans to boost its dividend 25% and increased the size of its program to buy back its own stock.

Mondelez, the company behind Oreo and other food brands, climbed 2.2% after announcing a plan to send cash to shareholders by buying back up to $9 billion of its own stock. The program replaces a prior $6 billion plan, which had about $2.8 billion of capacity remaining and would have otherwise expired at the end of next year.

On the losing end of Wall Street, Macy’s fell 2.3% after cutting some of its financial forecasts for the full year of 2024, including for how much profit it expects to make off each $1 of revenue.

Dave & Buster’s Entertainment sank 18.7% after reporting a worse loss for the latest quarter than expected. It also said CEO Chris Morris has resigned, and the board has been working with an executive-search firm for the last few months to find its next permanent leader.

In the bond market, the yield on the 10-year Treasury rose to 4.27% from 4.23% late Tuesday. The two-year Treasury yield, which more closely tracks expectations for the Fed, rose to 4.16% from 4.14%.

In stock markets abroad, indexes rose across much of Europe and Asia.

Hong Kong’s Hang Seng was an outlier and slipped 0.8% as Chinese leaders convened an annual planning meeting in Beijing that is expected to set economic policies and growth targets for the coming year.

South Korea’s Kospi rose 1%, up for a second straight day as it climbs back following last week’s political turmoil where its president briefly declared martial law.

AP Writers Matt Ott and Zimo Zhong contributed.

People gather in front of the New York Stock Exchange in New York's Financial District on Tuesday, Dec. 10, 2024. (AP Photo/Peter Morgan)

A banner for Alaska Air Group hangs on the front of the New York Stock Exchange in New York's Financial District on Tuesday, Dec. 10, 2024. (AP Photo/Peter Morgan, File)

A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Wednesday, Dec. 11, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)

People walk in front of an electronic stock board showing Japan's Nikkei index at a securities firm Wednesday, Dec. 11, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)

People stand in front of an electronic stock board showing Japan's Nikkei index at a securities firm Wednesday, Dec. 11, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)

A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Wednesday, Dec. 11, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)

A person gestures in front of an electronic stock board showing Japan's Nikkei index at a securities firm Wednesday, Dec. 11, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)