Real Madrid ousted from Copa by 2nd-division club Albacete in debut of coach Arbeloa

MADRID (AP) — Álvaro Arbeloa got off to a dismal start as the new coach of Real Madrid, seeing his team lose to second-division club Albacete 3-2 and drop out of the Copa del Rey in the round of 16 on Wednesday.

Jefté Betancor scored the game-winning goal four minutes into stoppage time to send Albacete to the quarterfinals. Gonzalo García had also scored in added time for Madrid to even the match at 2-2.

Madrid struggled from the start in the debut of Arbeloa, the club's former B-team coach who on Monday was picked to replace Xabi Alonso following a tumultuous eight-month stint at the helm.

“At this club, even a draw is bad, a tragedy, imagine a defeat like this, especially against a lower-division opponent," Arbeloa said. "If anyone is responsible, it’s me, as I’m the one who made the decisions regarding the lineup, how we wanted to play, and the substitutions. I can only thank the players for the welcome they gave me and help them recover physically and mentally.”

Arbeloa used a few B-team players as expected, but he drew some criticism for resting many of his top stars, including Kylian Mbappé, Jude Bellingham, Thibaut Courtois and Rodrygo. Vinícius Júnior started, but was mostly ineffective as Madrid had difficulty creating scoring opportunities.

Arbeloa said he had “no regrets” about his squad choice.

“I was convinced that the squad was the right one," Arbeloa said. “It was a great team, the starting lineup and the bench. I have a very talented squad and it’s not easy for them to do everything I’ve asked of them in just one day with a new coach. I feel ultimately responsible.”

Veteran defender Dani Carvajal, who entered the game in the second half, said Madrid fans deserved an apology after the team's performance.

“We are not going through our best moment,” he said. “Everyone has to give a lot more.”

Albacete sits in 17th-place in the 22-team second-division standings. It hadn't won in five consecutive games in all competitions.

The hosts had gotten on the board first with Javier Villar scoring with a header off a corner kick in the 42nd and Franco Mastantuono equalized from close range three minutes into first-half stoppage time. Betancor put Albacete back in front in the 82nd with a shot from inside the area after the Madrid defense failed to fully clear a cross into the box.

“It’s the greatest thing in football and it happened today," Betancor said. "I’m so happy for my team, everyone worked like crazy. I’m very, very happy.”

Madrid was coming off a 3-2 loss to Barcelona in the final of the Spanish Super Cup in Saudi Arabia. It trails Barcelona by four points at the halfway point in the Spanish league, and sits in seventh place in the league phase of the Champions League. Madrid's next match is at home on Saturday against Levante in the Spanish league.

Like Alonso, the 42-year-old Arbeloa played several years for Madrid. He has been with the club for 20 years, having coached many of its youth squads.

As a player, Arbeloa helped Madrid win eight titles from 2009-16, including two European Cups and one Spanish league. He also helped Spain win the 2010 World Cup and the 2008 and 2012 European Championships.

In other meetings between first-division clubs, Rayo Vallecano lost 2-0 at Alaves and Real Betis beat Elche 2-1 at home.

Rayo played with 10 men from the 69th as Isi Palazón was sent off. Ezequiel Ávila scored twice, including an 80th-minute winner, as Betis rallied from behind against Elche.

On Tuesday, Atletico Madrid beat second-division club Deportivo La Coruña 1-0.

Barcelona visits Racing Santander — the second-tier leader — on Thursday.

The round of 16 is played in single elimination games.

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Real Madrid's Vinicius Junior reacts at the end of the Copa del Rey round of 16 soccer match between Albacete and Real Madrid, in Albacete, Spain, Wednesday, Jan. 14, 2026. (AP Photo/Jose Breton)

Albacete's players celebrate their team victory at the end the Copa del Rey round of 16 soccer match between Albacete and Real Madrid, in Albacete, Spain, Wednesday, Jan. 14, 2026. (AP Photo/Jose Breton)

Real Madrid's Vinicius Junior reacts at the end of the Copa del Rey round of 16 soccer match between Albacete and Real Madrid, in Albacete, Spain, Wednesday, Jan. 14, 2026. (AP Photo/Jose Breton)

Real Madrid's Vinicius Junior argues with Albacete's players during the Copa del Rey round of 16 soccer match between Albacete and Real Madrid, in Albacete, Spain, Wednesday, Jan. 14, 2026. (AP Photo/Jose Breton)

Real Madrid players react after Albacete scored its second goal during the Copa del Rey round-of-16 soccer match between Albacete and Real Madrid, in Albacete, Spain, Wednesday, Jan. 14, 2026. (AP Photo/Jose Breton)

Real Madrid players react after Albacete scored its second goal during the Copa del Rey round of 16 soccer match between Albacete and Real Madrid, in Albacete, Spain, Wednesday, Jan. 14, 2026. (AP Photo/Jose Breton)

Real Madrid players react after Albacete scored its second goal during the Copa del Rey round of 16 soccer match between Albacete and Real Madrid, in Albacete, Spain, Wednesday, Jan. 14, 2026. (AP Photo/Jose Breton)

Real Madrid's Vinicius Junior, left, and Real Madrid's head coach Alvaro Arbeloa during the Copa del Rey round of 16 soccer match between Albacete and Real Madrid, in Albacete, Spain, Wednesday, Jan. 14, 2026. (AP Photo/Jose Breton)

NEW YORK (AP) — The U.S. stock market is rising toward records Tuesday after an easing of oil prices let Wall Street turn its focus back to the big profits that companies keep producing.

The S&P 500 rose 0.6% and was on track to top its all-time high set at the end of last week. The Dow Jones Industrial Average was up 248 points, or 0.5%, as of 10:15 a.m. Eastern time, and the Nasdaq composite was heading toward its own record after climbing 0.7%.

Stocks got a boost after oil prices gave back some of their big jumps from Monday. The price for a barrel of Brent crude, the international standard, fell 3.3% to $110.70 after briefly topping $115 on Monday, though it’s still well above its roughly $70 price from before the war with Iran.

A ceasefire in the war appears to be holding, even after the United Arab Emirates said Monday that Iran fired missiles and drones at it. The U.S. military is trying to force open a path in the Strait of Hormuz, which would allow oil tankers to resume shipments from the Persian Gulf and hopefully bring down the price of crude.

Iran’s powerful parliamentary speaker and chief negotiator, Mohammad Bagher Qalibaf, accused the United States of undermining regional security with the effort to end Iran’s stranglehold on the strait and warned that Tehran will respond.

Even with the war ongoing, the U.S. stock market has remained remarkably resilient on its record-setting run. That’s in large part due to the strong profits that U.S. companies have reported for the start of 2026 despite the rise in oil prices since the end of February.

“This has been a ‘why ask why’ market,'” according to Scott Wren, senior global market strategist at Wells Fargo Investment Institute. “You just have to go with it.”

Even though many risks are still weighing on the market, “investors are looking at earnings” and how much companies are spending on AI data centers and other investments, he said.

DuPont’s stock rallied 8.7% Tuesday after the chemical giant led another cavalcade of companies reporting better-than-expected profits for the latest quarter.

DuPont said its water technologies business felt some impact because of the war with Iran due to logistics disruptions in the Middle East. But it nevertheless raised its forecasts for financial results over the full year due in part to its strong start to 2026.

Other winners included American Electric Power Co., which rose 1.8%, and Cummins, which added 1.7%, after they likewise made more money during the first three months of the year than analysts expected.

Pinterest soared 14% after the online bulletin board topped Wall Street’s first-quarter sales and profit targets as its number of active monthly users jumped 11% to 631 million.

AB InBev likewise topped analysts’ profit forecasts, and it credited growth for its Corona, Stella Artois and Michelob Ultra brands outside of their home markets. “Cheers to beer,” CEO Michel Doukeris said, as the company’s stock that trades in the United States jumped 9.2%.

They helped offset a drop for Palantir Technologies, which fell 4.3% even though it reported stronger results for the latest quarter than analysts expected. Its stock has struggled this year with worries about increased competition, like many software companies have. Its stock is also coming off a huge run where it more than doubled in each of the last three years.

In stock markets abroad, indexes were mixed in Europe. The CAC 40 rose 0.6% in Paris, but the FTSE 100 fell 1.7% in London. Many Asian markets were closed for holidays, as Hong Kong’s Hang Seng fell 0.8%.

Australia’s S&P/ASX 200 slipped 0.2% after the central bank raised its benchmark interest rate to 4.35%, saying conflict in the Middle East had sharply increased fuel and commodity prices that were already adding to inflation.

In the U.S. bond market, Treasury yields eased after oil prices gave back some of Monday’s gains and reports on the U.S. economy came in mixed.

One report said growth for U.S. services businesses unexpectedly decelerated last month, with some companies saying the war is slowing spending. A separate report said U.S. employers were advertising slightly more job openings at the end of March than economists expected, an encouraging signal for the job market.

The yield on the 10-year Treasury fell to 4.42% from 4.45% late Monday.

That’s still well above its 3.97% level from just before the war began. That rise has made mortgages and other kinds of loans for U.S. households and businesses more expensive.

AP Writers Chan Ho-him, Matt Ott and Rod McGuirk contributed.

Specialist Patrick King works at his post on the floor of the New York Stock Exchange, Friday, May 1, 2026. (AP Photo/Richard Drew)

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