Summer Olympians begin torch relay for Milan Cortina Winter Games on 2-month countdown

ROME (AP) — Olympic swimming champion Gregorio Paltrinieri and fellow Summer athletes started the torch relay for the Milan Cortina Winter Games on Saturday — marking exactly two months before the Feb. 6 opening ceremony.

Paltrinieri carried the sleek torch around the track of the statue-lined Stadio dei Marmi at the Foro Italico to begin a trek covering 12,000 kilometers (nearly 7,500 miles) that will wind its way through all 110 Italian provinces before reaching Milan’s San Siro Stadium for the opening ceremony.

“It’s a pleasure to be part of the Olympic movement even if it’s Winter Olympics,” Paltrinieri said.

In all, there will be 10,001 torch bearers.

At the end of the opening day, police said they stopped two groups of pro-Palestinian activists from coming into contact with the relay route.

Giancarlo Peris, the final torch bearer from the 1960 Olympics in Rome, carried the Olympic flame in a lantern to get the proceedings going. The 84-year-old Peris was 18 when he lit the cauldron at the Stadio Olimpico — which is next to the Stadio dei Marmi — more than 65 years ago.

“I didn't think I would be here today,” Peris said with a chuckle.

Paltrinieri won gold in the 1,500 meters at the 2016 Rio de Janeiro Games and has five Olympic medals in all. He and girlfriend Rossella Fiamingo, a fencer, carried Italy's flag at the closing ceremony for last year's Paris Games.

“I used to ski when I was a kid but then I stopped because it’s a little bit dangerous for me,” Paltrinieri said. “Skiing is my favorite (Winter Olympic sport). ... Alberto Tomba was one of my biggest idols.”

Paltrinieri handed off to retired fencer Elisa Di Francisca, who won two golds at the 2012 London Games.

Next was Gianmarco Tamberi, the 2020 Olympic high jump champion.

Also carrying the torch around Rome on Saturday were tennis player Matteo Berrettini, retired NBA player Andrea Bargnani and former motorcycle racer Max Biaggi.

Actor Ricky Tognazzi carried the torch while riding a white Vespa in a scene reminiscent of the 1953 film “Roman Holiday” featuring Audrey Hepburn and Gregory Peck.

The torch relay, which includes 60 city celebrations, will be in Naples for Christmas and in Bari for New Year’s Eve. It will reach 2006 Olympics host Turin on Jan 11.

The torch will arrive in Verona on Jan. 18 and pass through Cortina d’Ampezzo on Jan. 26 — on the 70th anniversary of the opening ceremony of the 1956 Winter Olympics held at the resort in the Dolomites.

There will also be a cauldron lit in Cortina on the night of the opening ceremony.

Local organizing committee president Giovanni Malagò noted the torch relay will pass by all of the country's UNESCO World Heritage sites, of which Italy has more than any other country with 61.

“It's like a giant two-month advertisement,” Malagò said.

These Games will be held across a large swath of northern Italy and the ceremony will be observed in four different locations, including Livigno (where snowboarding and freestyle skiing will be contested) and Predazzo (ski jumping).

Skating sports will be in Milan; men’s Alpine skiing and ski mountaineering in Bormio; and women’s Alpine skiing, sliding sports and curling in Cortina.

The next stops on the torch relay are Viterbo on Sunday and Terni on Monday.

AP Olympics: https://apnews.com/hub/milan-cortina-2026-winter-olympics

Former Italian track athlete Giancarlo Peris, 84, left, who was the final bearer of the Olympic torch for the 1960 Summer Olympics in Rome, holds a lantern with the Olympic flame ahead of the start of the 2026 Milan Cortina Winter Olympics torch ceremony in Rome as it begins its journey through Italy, Saturday, Dec. 6, 2025. The journey will conclude in Milan in February 2026. (AP Photo/Andrew Medichini)

Italian former foil fencer and Olympic and world champion Elisa Di Francisca carries the 2026 Milan Cortina Winter Olympics torch in Rome as it begins its journey through Italy, Saturday, Dec. 6, 2025, a journey that will conclude in Milan in February 2026. (AP Photo/Andrew Medichini)

Italian swimmer Gregorio Paltrinieri lights the 2026 Milan Cortina Winter Olympics torch in Rome as it begins its journey through Italy, Saturday, Dec. 6, 2025, a journey that will conclude in Milan in February 2026. (AP Photo/Andrew Medichini)

Italian high jumper and Olympic gold medalist Gianmarco Tamberi, left, receives the flame of the 2026 Milan Cortina Winter Olympics torch from Italian former foil fencer and Olympic and world champion Elisa Di Francisca in Rome as it begins its journey through Italy, Saturday, Dec. 6, 2025, a journey that will conclude in Milan in February 2026. (AP Photo/Andrew Medichini)

Italian high jumper and Olympic gold medalist Gianmarco Tamberi carries the 2026 Milan Cortina Winter Olympics torch in Rome as it begins its journey through Italy, Saturday, Dec. 6, 2025, a journey that will conclude in Milan in February 2026. (AP Photo/Andrew Medichini)

Italian swimmer Gregorio Paltrinieri carries the 2026 Milan Cortina Winter Olympics torch in Rome as it begins its journey through Italy, Saturday, Dec. 6, 2025, a journey that will conclude in Milan in February 2026. (AP Photo/Andrew Medichini)

Italian swimmer Gregorio Paltrinieri, left, passes the flame of the 2026 Milan Cortina Winter Olympics torch to Italian former foil fencer and Olympic and world champion Elisa Di Francisca in Rome as it begins its journey through Italy, Saturday, Dec. 6, 2025, a journey that will conclude in Milan in February 2026. (AP Photo/Andrew Medichini)

Italian swimmer Gregorio Paltrinieri lights the 2026 Milan Cortina Winter Olympics torch in Rome as it begins its journey through Italy, Saturday, Dec. 6, 2025, a journey that will conclude in Milan in February 2026. (AP Photo/Andrew Medichini)

Italian swimmer Gregorio Paltrinieri carries the 2026 Milan Cortina Winter Olympics torch in Rome as it begins its journey through Italy, Saturday, Dec. 6, 2025, a journey that will conclude in Milan in February 2026. (AP Photo/Andrew Medichini)

Italian swimmer Gregorio Paltrinieri carries the 2026 Milan Cortina Winter Olympics torch in Rome as it begins its journey through Italy, Saturday, Dec. 6, 2025, a journey that will conclude in Milan in February 2026. (AP Photo/Andrew Medichini)

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)