COMMERCE CITY, Colo. (AP) — The Colorado Rapids hired Tottenham Hotspur assistant Matt Wells as coach to replace Chris Armas.
The Major League Soccer club made the move Tuesday, nearly two months after parting ways with Armas following his two seasons in charge.
“Matt brings extensive Champions League, Europa League and Premier League experience, a proven commitment to player development, and a clear, exciting tactical identity we believe will position our players to excel for trophies," Rapids President Pádraig Smith said. "His track record of success and his ambitions aligns with our long-term vision for the club, and we look forward to elevating the club to Championship contention under his leadership.”
The 37-year-old Wells was on Tottenham’s staff for two-plus seasons. He previously coached in Tottenham’s academy system.
“I’m a very ambitious individual who has been surrounded by elite players and managers for the past seven years, and I’m excited to bring my experience and winning mentality to this organization," Wells said. “From the very outset of our discussions, it was clear the club shared my ambitions to create something special and compete for the highest honors. Of course, it’s a difficult decision to leave a team playing Champions League football, but everything about the people and project at Colorado made the choice clear for me.”
The Rapids finished 11-15-8 this year, falling short of earning a spot in the MLS Cup playoffs.
AP soccer: https://apnews.com/soccer
FILE - Fulham's assistant manager Matt Wells looks on during warm up before the English Premier League soccer match between Fulham and Southampton at the Craven Cottage stadium in London, Saturday, Dec. 26, 2020. (Adam Davy/Pool via AP, File)
NEW YORK (AP) — Stocks are holding near their record levels Tuesday following updates that showed the economy grew sharply during the third quarter, but inflation remains high and consumers are losing confidence.
The S&P 500 rose 0.1% and is just below the all-time high it set earlier this month. The Dow Jones Industrial Average rose 66 points, or 0.1%, as of 10:38 a.m. Eastern. The Nasdaq composite rose 0.1%.
A majority of stocks with the S&P 500 were losing ground, but the market was being bolstered by several big technology stocks. Nvidia rose 0.8% and Google’s parent company, Alphabet, rose 1%. They are among several companies with outsized valuations that tend to have more impact on the broader market’s direction.
Novo Nordisk jumped 8.9% after U.S. regulators approved a pill version of the blockbuster weight-loss drug Wegovy, the first daily oral medication to treat obesity.
Wall Street is getting the latest economic updates during an otherwise quiet holiday-shortened week. Markets in the U.S. will close early Wednesday for Christmas Eve and remain closed for Christmas on Thursday.
The U.S. economy grew at a 4.3% annual rate during the third quarter. That builds on 3.8% growth during the second quarter and marks a sharp turnaround from the first quarter, when the U.S. economy shrank for the first time in three years.
The latest report also showed that stubborn inflation continues to hover over the economy. The Federal Reserve’s favored inflation gauge — called the personal consumption expenditures index, or PCE — climbed to a 2.8% annual pace last quarter, up from 2.1% in the second quarter.
The yield on the 10-year Treasury rose to 4.18% from 4.15% just before the report on gross domestic product for the third quarter was released. The yield on the two-year Treasury, which more closely tracks expectations for Fed actions, rose to 3.54% from 3.49% just prior to the report’s release.
The Fed has been taking a more cautious policy approach amid mixed signals from the economy. Economic growth has been occurring at the same time that inflation remains stubbornly above the central bank's 2% target. The job market is also slowing, adding another layer of concern to whether the central bank should continue cutting interest rates.
Wall Street expects the Fed to hold rates steady at its upcoming meeting in January.
Consumer spending and confidence has been a shaky amid worries about high prices, especially with a wide-ranging U.S. trade war that could drive prices for many goods even higher.
The latest update from business group The Conference Board showed that consumer confidence fell in December to its lowest level since tariffs were rolled out in April. Meanwhile, retail sales have been weakening, with consumers growing more cautious.
Consumers have become more targeted in their buying during the holiday shopping season, according to Visa's Consulting and Analytics division. From Nov. 1 through Sunday, cash and credit card sales rose 4.2%, which is less than the 4.8% increase during the same period a year ago.
Markets were mixed in Asia and Europe.
Matt Ott and Elaine Kurtenbach contributed to this report.
Anthony Matesic works on the floor at the New York Stock Exchange in New York, Wednesday, Dec. 10, 2025. (AP Photo/Seth Wenig)
Trader Jonathan Mueller works on the floor of the New York Stock Exchange, Thursday, Dec. 11, 2025. (AP Photo/Richard Drew)
Trader William Lawrence works on the floor of the New York Stock Exchange, Thursday, Dec. 11, 2025. (AP Photo/Richard Drew)
Walmart is displayed on the facade of the Nasdaq MarketSite, in New York, Tuesday, Dec. 9, 2025. (AP Photo/Richard Drew)
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A person walks in front of an electronic stock board showing the market indexes of Shanghai, Tokyo and New York Dow at a securities firm Friday, Dec. 19, 2025, in Tokyo. (AP Photo/Eugene Hoshiko)
A dealer watches computer monitors at a dealing room of Hana Bank in Seoul, South Korea, Thursday, Dec. 18, 2025. (AP Photo/Lee Jin-man)
