DUBAI, United Arab Emirates (AP) — Patrick Reed moved into the lead at the Dubai Desert Classic on Friday and has a familiar foe trying to chase him down over the weekend.
Rory McIlroy sounds up for the fight, too.
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Francesco Molinari of Italy reacts after missing a putt on the 3rd hole during second round of the Dubai Desert Classic in United Arab Emirates, Friday, Jan. 23, 2026. (AP Photo/Altaf Qadri)
Tommy Fleetwood of England plays his second shot on the 3rd hole during second round of the Dubai Desert Classic in United Arab Emirates, Friday, Jan. 23, 2026. (AP Photo/Altaf Qadri)
Rory McIlroy of Northern Ireland walks on the 3rd green during second round of the Dubai Desert Classic in United Arab Emirates, Friday, Jan. 23, 2026. (AP Photo/Altaf Qadri)
Patrick Reed of the United States watches the ball after teeing off at first hole during second round of the Dubai Desert Classic in United Arab Emirates, Friday, Jan. 23, 2026. (AP Photo/Altaf Qadri)
“I came from 10 behind a couple years ago to win,” the No. 2-ranked McIlroy said defiantly. “I think I’m seven back at the minute.”
McIlroy sure will need to improve to reel in Reed, the former Masters champion who kept his card clean and shot 6-under 66 to take a one-stroke lead after the second round at Emirates Golf Club.
Reed, a LIV Golf member who plays frequently on the European tour, made four birdies and a 40-footer for eagle at the par-5 13th. The American was on 9-under 135 for the week.
McIlroy birdied the par-5 18th to shoot 69 and repair some of the damage from a 72 in the first round.
Few know the course better than McIlroy, the record four-time champion — including in 2024 when he was 11 shots back heading onto the 18th hole on the Friday yet still won, and in 2023 when he outlasted Reed in a memorable final-round duel that got personal.
Throw in their loud singles match at the Ryder Cup in 2016, won by Reed, and they certainly have some history.
“If I go out there tomorrow, maybe in slightly better conditions in the morning, and post a low one, then I’ll be right in the mix come Sunday,” said McIlroy, who was tied for 20th.
Reed, who has placed second and 10th in his two other appearances at the Dubai Desert Classic, said he was happy with his game, having started with a round of 69 in much tougher conditions.
“The good thing is today I felt like (I'm) hitting the ball exactly where I need to and I feel like I’m hitting some solid putts,” Reed said.
Andy Sullivan finished birdie-eagle to shoot 65 — the lowest round of the day — and was alone in second place, one stroke ahead of Italian pair Andrea Pavan (68) and first-round leader Francesco Molinari (72).
Dustin Johnson, the longtime former No. 1, was the biggest name to miss the cut after a second straight 74.
The American is becoming an afterthought in golf after moving to the breakaway LIV circuit in 2022, the same year as Reed, and has slid to No. 639 in the world ranking.
No. 3-ranked Tommy Fleetwood is another headliner in Dubai, where he now lives, but only just made the cut after struggling to a 72 to be 10 shots off the lead.
Better placed was Tyrrell Hatton, the defending champion who shot 69 and was in sixth place, four strokes off the lead.
Hatton, another LIV golfer, chipped in for eagle at the short par-4 No. 17 for his highlight of the day.
AP golf: https://apnews.com/hub/golf
Francesco Molinari of Italy reacts after missing a putt on the 3rd hole during second round of the Dubai Desert Classic in United Arab Emirates, Friday, Jan. 23, 2026. (AP Photo/Altaf Qadri)
Tommy Fleetwood of England plays his second shot on the 3rd hole during second round of the Dubai Desert Classic in United Arab Emirates, Friday, Jan. 23, 2026. (AP Photo/Altaf Qadri)
Rory McIlroy of Northern Ireland walks on the 3rd green during second round of the Dubai Desert Classic in United Arab Emirates, Friday, Jan. 23, 2026. (AP Photo/Altaf Qadri)
Patrick Reed of the United States watches the ball after teeing off at first hole during second round of the Dubai Desert Classic in United Arab Emirates, Friday, Jan. 23, 2026. (AP Photo/Altaf Qadri)
NEW YORK (AP) — Oil prices resumed their rise on Tuesday because of the war with Iran, but U.S. stocks held steadier this time around.
The S&P 500 rose 0.2% to add to its gain from the day before, which was its biggest since the war began. The Dow Jones Industrial Average climbed 46 points, or 0.1%, and the Nasdaq composite rose 0.5%.
It’s a break, for now at least, from the usual playbook since the start of the war, where stock prices have tended to go in the opposite direction of oil prices. The fear in financial markets has been that a long-term disruption to the global flow of oil could send prices so high for so long that it damages the global economy. Not only would higher gasoline prices sap households’ budgets, it could also push companies to pass on their own higher transportation costs to customers.
On Tuesday, the price for a barrel of benchmark U.S. crude rose 2.9% to settle at $96.21. Brent crude, the international standard, climbed 3.2% to $103.42. But they pared even bigger gains from earlier in the morning, and they’re either roughly where they were at the end of last week or below.
Delta Air Lines offered an encouraging signal about the strength of the economy after raising its forecast for revenue for the first three months of 2026. It said it’s seen demand to fly accelerate into March from both businesses and households.
And that looks to be enough to offset higher prices for jet fuel because of the spike in oil prices. Delta said it still expects to report a profit for the start of 2026 that’s in line with its earlier forecast.
Delta’s stock flew 6.6% higher, and it helped other airline stocks trim their own sharp losses for the year so far. United Airlines climbed 3.2%, and Southwest Airlines rose 2.2%.
American Airlines gained 3.5% after saying it’s also likely to report stronger revenue growth for the start of this year than it had forecast earlier.
Another big winner was Uber Technologies, which drove 4.2% higher after announcing an expansion of its partnership with Nvidia. They plan to launch a fleet of autonomous vehicles using Nvidia’s technology, beginning with Los Angeles and San Francisco in the first half of next year.
Some beaten-down stocks in the financial industry, meanwhile, recovered losses from earlier in the year. That includes several that got swept up in worries about whether software businesses and others potentially under threat by AI-powered competitors will pay back all their loans. Blue Owl Capital gained 4.5%, and Ares Management rose 6.6%.
They helped offset a 3.2% drop for Cencora after the pharmaceutical sourcing and distribution services company said it’s looking for a new chief financial officer. Its current CFO, James Cleary, will retire at the end of June.
All told, the S&P 500 rose 16.71 points to 6,716.09. The Dow Jones Industrial Average added 46.85 to 46,993.26, and the Nasdaq composite gained 105.35 to 22,479.53.
The U.S. stock market has a track record of bouncing back relatively quickly from military conflicts in the Middle East and elsewhere, as long as oil prices don’t stay too high for too long. Many professional investors are expecting that to be the case again, which has helped keep U.S. stock prices near their record levels.
For all its dramatic swings over the last couple weeks, including several that struck hour to hour, the S&P 500 is less than 4% below its all-time high.
That’s even as Treasury yields have climbed on expectations that higher oil prices will prevent the Federal Reserve from cutting interest rates for a while. Higher yields push downward on prices for stocks and all kinds of investments.
The yield on the 10-year Treasury eased to 4.20% from 4.23% late Monday, but it remains well above the 3.97% level it was at before the war with Iran began.
The Fed will make its next announcement on interest rates Wednesday afternoon, and traders see virtually no chance of a cut, according to data from CME Group.
Cuts to interest rates by the Fed would give the economy and job market a boost, and President Donald Trump has angrily been calling for them. But reductions would also worsen inflation.
In Australia, the central bank is actually raising interest rates. Citing higher fuel prices, the Reserve Bank of Australia made its first hike since November 2023.
In stock markets abroad, European indexes rose following a mixed finish in Asia. Indexes climbed 0.8% in London and fell 0.9% in Shanghai for two of the world’s bigger moves.
AP Writers Matt Ott, Elaine Kurtenbach and Rod McGuirk contributed.
Philip Finale works on the floor at the New York Stock Exchange in New York, Tuesday, March 10, 2026. (AP Photo/Seth Wenig)
Traders work on the floor at the New York Stock Exchange in New York, Tuesday, March 10, 2026. (AP Photo/Seth Wenig)
Traders work on the floor at the New York Stock Exchange in New York, Tuesday, March 10, 2026. (AP Photo/Seth Wenig)
Screens display financial information on the floor at the New York Stock Exchange in New York, Tuesday, March 10, 2026. (AP Photo/Seth Wenig)
People stand in front of a stock price monitor showing Nikkei index at a security company Tuesday, March 17, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
A person stands near a stock price monitor showing Nikkei 225 index at a security company Tuesday, March 17, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
A person looks at a stock price monitor showing New York Dow and Nikkei indexes also US dollar Japanese yen exchange rate at a security company Tuesday, March 17, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
A person walks near a stock price monitor showing Nikkei index at a security company Tuesday, March 17, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
