Colts' late-season collapse puts them on cusp of missing playoffs

INDIANAPOLIS (AP) — Philip Rivers gave the Indianapolis Colts a chance Monday night.

Their defense did not.

After a 48-27 loss to San Francisco, Colts coach Shane Steichen struggled to explain how his team allowed the 49ers to score so many points, accumulate 440 yards and never force a punt in a home game Indy desperately needed to win.

Instead, it's simply the next chapter in a late-season collapse that has left Indy's once-promising playoffs floundering.

“I told those guys in there, like, ‘Shoot, we signed up for 17 of these things, and we’ve got a division opponent, and we’re not out of this thing,'” Steichen said after the Colts lost their fifth straight. "Until they tell us we’re done, we’re freaking fighting like crazy, and so we’re going to come back in this week, get ready to work and be ready to go for Jacksonville at home.”

The reality is, yes, the Colts (8-7) still could sneak in by beating the Jaguars (11-4) and Houston (10-5) in their final two games. But they'd also need Baltimore lose one of its last two games, the Texans to also lose Saturday against the Chargers and hope the tiebreakers fall their way.

Anything else would cement their place as the sixth team since the 1970 AFL-NFL merger to miss the playoffs after starting at least 8-2. The most recent to do it was the 1995 Oakland Raiders, who lost their final six games.

Rivers has experienced these kinds of slides and continues to insist the Colts can fix their season.

But little has gone right the second half of the season.

Daniel Jones' strong start to the season ended because of two injuries, the second being a season-ending torn Achilles tendon that led to Rivers coming out of retirement after five seasons. The injury and quarterback change have allowed defenses to focus on running back Jonathan Taylor.

And the defense that was supposed to get even better over the second half with the addition of two-time All-Pro cornerback Sauce Gardner has only gotten more banged up. The result: Indy is on the outside of the playoffs for a fifth straight year with little sign they can turn things around in time to salvage their season.

“I mean, we’ve got to find a way to finish strong and knock out these two next opponents,” Pro Bowl defensive tackle DeForest Buckner said after returning from a five-game absence Monday. "Everybody has got to give a little bit more, that’s what it is.”

Josh Downs and Alec Pierce. When Rivers returned, he noted there were 14 players left on the roster from his one and only previous season in Indy. Yet Downs, a third-year receiver, and Pierce, a fourth-year receiver, have emerged as Rivers' favorite options. The 44-year-old grandfather threw a total of 13 passes their way Monday, resulting in nine catches, 151 yards and two TDs.

The secondary. When the Colts traded for Gardner, they anticipated using three cornerbacks to shut down opponents. Instead, Gardner has missed three straight games with a strained calf and Charvarius Ward is on his second stint on injured reserve with a concussion. Their absences were more than noticeable as 49ers QB Brock Purdy picked apart Indy's pass defense.

Rivers. For 3 1/2 quarters, the eight-time Pro Bowler looked like he had taken a trip back in time. He was efficient, on time and even threw the ball down the field reasonably well. Sure, his arm strength and mobility may be waning. And, yes, his late interception was returned for a score to seal Indy's fate. But Rivers showed, even at his age, he's still capable of winning games.

Luke Tenuta. The third-year offensive tackle logged 26 snaps at Seattle after LT Bernhard Raimann left with an elbow injury. But the Colts went in a different direction Monday. They moved rookie Jalen Travis from right tackle to left tackle, moved right guard Matt Goncalves to right tackle and inserted Dalton Tucker at right guard. Tenuta, meanwhile, played only two snaps Monday — even after starting center Tanor Bortolini left early with a concussion.

Now that Buckner is back from his neck injury, the Colts have two major concerns — the secondary and the offensive line. Ward will miss another game this week on IR, and while the Colts need Gardner on the field, it's unclear whether he'll return on a short Christmas week. With RT Braden Smith also on injured reserve (concussion and neck) and the possibility of Raimann and Bortolini missing Sunday's game, the Colts could again be shuffling the lineup.

145, 98 — Indy has allowed opponents to score 145 points during this five-game losing streak while the Colts have only 98.

Despite the long odds, the Colts will try to play their way into the playoffs. If they can't, they could give QBs Anthony Richardson or Riley Leonard a chance to show what they can do.

AP NFL: https://apnews.com/hub/NFL

San Francisco 49ers tight end George Kittle, bottom, smiles after catching a touchdown pass against Indianapolis Colts safety Nick Cross (20) during the first half of an NFL football game, Monday, Dec. 22, 2025, in Indianapolis. (AP Photo/AJ Mast)

Indianapolis Colts tight end Tyler Warren (84) cannot catch a pass while being defended by San Francisco 49ers cornerback Upton Stout, top left, and cornerback Darrell Luter Jr. during the first half of an NFL football game, Monday, Dec. 22, 2025, in Indianapolis. (AP Photo/Carolyn Kaster)

San Francisco 49ers running back Christian McCaffrey (23) runs past Indianapolis Colts defensive end Laiatu Latu (97) and defensive tackle Grover Stewart (90) during the first half of an NFL football game, Monday, Dec. 22, 2025, in Indianapolis. (AP Photo/AJ Mast)

Indianapolis Colts wide receiver Alec Pierce (14) catches a touchdown pass against San Francisco 49ers cornerback Darrell Luter Jr. during the first half of an NFL football game, Monday, Dec. 22, 2025, in Indianapolis. (AP Photo/AJ Mast)

Indianapolis Colts quarterback Philip Rivers (17) passes while pressured by San Francisco 49ers defensive end Clelin Ferrell during the second half of an NFL football game, Monday, Dec. 22, 2025, in Indianapolis. (AP Photo/Carolyn Kaster)

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)