Sharpe and Clingan power the Trail Blazers to a 106-98 victory over the Timberwolves

PORTLAND, Ore. (AP) — Shaedon Sharpe scored 33 points, Donovan Clingan narrowly missed a triple-double with 17 points, 13 rebounds and eight blocks on Wednesday, and the Portland Trail Blazers beat the Minnesota Timberwolves for the second straight night 106-98.

Anthony Edwards scored 24 points as Minnesota squandered an early lead and dropped its third straight game.

The teams entered the fourth quarter tied before Portland took control behind the defense of Clingan, who had four blocks in the period as Minnesota missed 10 of its first 11 shots to start the final frame.

Portland extended its lead to double digits for the first time on free throws by Sharpe to make it 89-78.

Wolves: Minnesota played without starting point guard Mike Conley. Conley played in the first two back-to-backs of the season, but resting him Wednesday is part of a bigger plan for the 37-year old point guard. “We’re not a rest team generally ... But we had the mindset this season to be a little more proactive with Mike," Wolves coach Chris Finch said.

Trail Blazers: The Blazers were without starting point guard Anfernee Simons, who left Tuesday’s game with shortness of breath. “He just didn’t feel very well today,” head coach Chauncey Billups said. Billups said he expected further tests and that Simons doesn't seem worried. Portland was also without Robert Williams, who is being held out of back-to-backs.

Shaedon Sharpe’s put-back slam dunk with 5:26 left in the game put Portland up 91-83, sending the home crowd into a frenzy.

Minnesota shot 7 for 39 (18%) from the 3-point line. The Wolves entered Wednesday ranked fourth in the NBA in 3-point percentage.

The Timberwolves are at Sacramento on Friday, while the Trail Blazers are off until a Sunday game against Atlanta.

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Minnesota Timberwolves forward Jaden McDaniels, left, shoots over Portland Trail Blazers guard Scoot Henderson during the second half of an NBA basketball game in Portland, Ore., Wednesday, Nov. 13, 2024. (AP Photo/Craig Mitchelldyer)

Minnesota Timberwolves guard Nickeil Alexander-Walker, right, shoots over Portland Trail Blazers center Donovan Clingan, center, and forward Toumani Camara during the second half of an NBA basketball game in Portland, Ore., Wednesday, Nov. 13, 2024. (AP Photo/Craig Mitchelldyer)

Portland Trail Blazers center Donovan Clingan, right, forward Kris Murray, left, and Minnesota Timberwolves forward Jaden McDaniels dive for a loose ball during the second half of an NBA basketball game in Portland, Ore., Wednesday, Nov. 13, 2024. (AP Photo/Craig Mitchelldyer)

Minnesota Timberwolves forward Jaden McDaniels, left, shoots over Portland Trail Blazers guard Shaedon Sharpe during the second half of an NBA basketball game in Portland, Ore., Wednesday, Nov. 13, 2024. (AP Photo/Craig Mitchelldyer)

Minnesota Timberwolves guard Anthony Edwards (5) shoots over Portland Trail Blazers forward Kris Murray during the second half of an NBA basketball game in Portland, Ore., Wednesday, Nov. 13, 2024. (AP Photo/Craig Mitchelldyer)

Portland Trail Blazers guard Shaedon Sharpe, right, shoots over Minnesota Timberwolves forward Jaden McDaniels during the first half of an NBA basketball game in Portland, Ore., Wednesday, Nov. 13, 2024. (AP Photo/Craig Mitchelldyer)

The economy, inflation and how those forces could impact the lives of Americans were front and center over the past week. Trips to the grocery store or gas station are more painful than they were last year, and that is impacting the decisions of both households and businesses.

Here’s a snapshot of prominent economic data and news that occurred over the past week and what it potentially means for you.

The average long-term U.S. mortgage rate climbed this week to its highest level in nearly nine months, driving up borrowing costs for homebuyers during what’s traditionally the housing market’s busiest time of the year.

The benchmark 30-year fixed rate mortgage rate rose to 6.51% from 6.36% last week, mortgage buyer Freddie Mac said Thursday. Despite the sharp increase, the average rate remains below 6.86%, where it was a year ago.

Rates have been mostly trending higher since the war with Iran began. The closure of the Strait of Hormuz has roiled energy markets, sending crude oil prices sharply higher — a key driver of inflation.

Expectations of higher oil prices and worries about big and growing debts for the U.S. government and others have pushed up long-term bond yields, causing mortgage rates to head higher.

U.S. retailers have spent months navigating an uncertain economic environment, from President Donald Trump’s tariffs to the impact of soaring gasoline prices due to the Iran war. The average price for a gallon of regular gasoline rose again this week, ending at about $4.55 per gallon on Friday, according to AAA. Gasoline prices are about 45% above where they were at this time last year.

Based on quarterly financial reports from Walmart, Target, Home Depot, Lowe’s and TJX, shoppers are cautious but still spending, helped by more generous tax refunds. Yet there is a widespread belief among economists that once those refunds dry up, shoppers will pull back on spending. Consumer spending is the dominant economic engine for the U.S., and retreat would have broad implications for the U.S.

Walmart issued a forecast for the current quarter on Thursday that was weaker than what Wall Street had been expecting. Target raised its annual revenue outlook on Wednesday, saying it expected momentum to continue the rest of the year. Yet the upgraded sales expectations were still below the pace of the first quarter.

Fewer Americans filed for jobless aid last week as layoffs remain low despite a number of uncertainties that continue to cloud the economy.

U.S. applications for unemployment benefits for the week ending May 16 fell by 3,000 to 209,000, the Labor Department reported Thursday. That’s fewer than the 213,000 new applications analysts surveyed by the data firm FactSet had forecast.

Weekly filings for unemployment benefits are considered a proxy for U.S. layoffs and are close to a real-time indicator of the health of the job market.

Despite historically low layoffs, the labor market appears to be stuck in what economists call a “low-hire, low-fire” state. That’s kept the unemployment rate low at 4.3%, but left many of those out of work struggling to find new employment.

The split between Wall Street and most U.S. households grew even wider Friday, as U.S. stocks rose toward the finish of an eighth straight winning week, their longest such streak since 2023. That’s even though a survey showed on the same day that U.S. consumers are feeling worse about the economy.

Shares of Workday and Zoom Communications rose after both delivered better profit reports for the latest quarter than analysts expected.

They’re the latest companies to top analysts’ expectations for profits for the start of 2026. And the cavalcade of such reports has helped U.S. stocks remain near their records. Stock prices tend to follow the path of corporate profits over the long term.

A hiring sign is displayed at a restaurant in Niles, Ill., Thursday, May 14, 2026. (AP Photo/Nam Y. Huh)

Drones operated by Zipline leave base to make deliveries from a Walmart store in Pea Ridge, Ark., Friday, Sept. 26, 2025. (AP Photo/Charlie Riedel)

Options trader Anthony Spina works on the floor of the New York Stock Exchange, Friday, May 22, 2026. (AP Photo/Richard Drew)

Trader Robert Arciero works on the floor of the New York Stock Exchange, Friday, May 22, 2026. (AP Photo/Richard Drew)