Comeback or collapse? Knicks' Game 1 rally against the Cavaliers was a little bit of both

NEW YORK (AP) — Call it a comeback. Or chalk it up as a choke.

Game 1 of the Eastern Conference finals was both. The Knicks wouldn't have been able to charge all the way back without Cleveland collapsing.

The Cavaliers led 93-71 with under eight minutes to play before the Knicks outscored them 44-11 the rest of the way to win 115-104 in overtime. The only bigger fourth-quarter playoff comeback in the last 30 years was when the Clippers rallied from 24 down to beat Memphis in Game 1 of a Western Conference first-round series in 2012, and it matched the biggest in any NBA game this season.

“We should’ve won the game," Cavaliers All-Star Donovan Mitchell said. “We didn’t.”

A look at some of the reasons they didn't.

Impossible as it became to imagine a few minutes later, James Harden made a good defensive play on a then still-struggling Jalen Brunson with the Cavs leading by 20 with 7:04 to play. Harden blocked Brunson's shot on a drive, but Karl-Anthony Towns came up with the ball to extend the possession and kicked it out to Landry Shamet, who made a 3-pointer. After a Cavaliers turnover, New York took a timeout with 6:41 to play. The lead was still 93-76, but as players walked off the court with Shamet pumping his fist to urge on his teammates, the Knicks suddenly looked like they had life for the first time in a while.

“If you’re going to make a run, that’s when you’ve got to do it. So might as well throw your best punch at that point and try to do what you can,” Shamet said.

“You've got to leave it all out there especially at this time of the year and that’s what we did. We had a group that didn’t flinch at that deficit and made some effort.”

The Knicks' game plan over the next few minutes was basic basketball. Whoever Harden was guarding when Brunson brought the ball up the court — usually either Mikal Bridges or OG Anunoby — would come set a pick on Brunson's defender, so Harden would then have to switch onto Brunson. Brunson then attacked Harden off the dribble, creating angles for a series of floaters and bank shots that he has mastered to become an All-Star.

Brunson made four straight Knicks baskets that way, before eventually making a 3-pointer that cut it to 94-89 with 3 1/2 minutes to go.

Moments before Brunson lined up that 3-pointer, ESPN analyst Richard Jefferson noted that the Cavaliers might want a timeout if the Knicks scored.

But was it perhaps too late by then? Cleveland had multiple possessions to see the Knicks were running one thing at them and could have halted play before then to set up a defensive scheme that might've changed things.

The Cavaliers still had four timeouts they could have used at that point. Yet they never called one until after Brunson's shot.

“I like to hold my timeouts,” Cavs coach Kenny Atkinson explained afterward, when his answer became an internet meme. "I didn’t want to get one timeout at the end of the game, a one- or two-point game. I try to hold them.”

The game perhaps never would've gotten to overtime if the Cavaliers had gotten a little luckier on a pair of 3-point attempts.

Mitchell had one with 3:47 to play that was inside the rim and then spun out. That would have extended Cleveland's lead to 11. Instead, Brunson hit his 3-pointer 17 seconds later that cut it to 94-89.

Then, not long after Shamet hit a tying 3-pointer that bounced off the rim first before falling in, the Cavaliers had the ball on the final possession of regulation and got it to Sam Merrill from straightaway. His shot looked so perfect that play-by-play man Mike Breen appeared to be beginning his signature “BANG!” exclamation with the ball inside the rim. But he got out only the “BA!” before having to switch to “In and out! That one halfway down!"

“We got a little unlucky," Atkinson said.

Counting the last 12:49 of the game — the end of regulation and then all of overtime — Brunson outscored the Cavaliers himself, 17-11. Anunoby nearly did; he had 10 points in that span.

A look at some of the numbers:

— Field goals: New York .750 (15-20), Cleveland .222 (4-18).

— 3-pointers: New York .750 (6-8), Cleveland .182 (2-11).

— Free throws: New York .800 (8-10, all of that from Anunoby), Cleveland .250 (1-4).

— Rebounds: New York 13, Cleveland 2.

— Brunson shot 8 for 10 in those minutes, while Shamet and Bridges were a combined 5 for 5 (all on 3-pointers).

— Harden (1-5) and Mitchell (0-5) were a combined 1 for 10 in the collapse.

AP Basketball Writer Tim Reynolds in Oklahoma City contributed to this report.

AP NBA: https://apnews.com/hub/nba

New York Knicks' Mikal Bridges, left, covers Cleveland Cavaliers' James Harden during the overtime period of Game 1 in the Eastern Conference finals NBA basketball playoffs series Tuesday, May 19, 2026, in New York. (AP Photo/Seth Wenig)

New York Knicks' Jalen Brunson, right, brings the ball up the court during the overtime period of Game 1 in the Eastern Conference finals NBA basketball playoffs series against the Cleveland Cavaliers, Tuesday, May 19, 2026, in New York. (AP Photo/Seth Wenig)

New York Knicks' Mitchell Robinson, center right, fouls Cleveland Cavaliers' Keon Ellis, center left,who goes looks to shoot during the first half of Game 1 in the Eastern Conference finals NBA basketball playoffs series, Tuesday, May 19, 2026, in New York. (AP Photo/Seth Wenig)

New York Knicks center Karl-Anthony Towns (32) shoots against Cleveland Cavaliers forward Dean Wade (32) during the second half of Game 1 in the Eastern Conference finals NBA basketball playoffs series Tuesday, May 19, 2026, in New York. (AP Photo/Yuki Iwamura)

New York Knicks' Jalen Brunson, right, covers Cleveland Cavaliers' Donovan Mitchell, left, during the second half of Game 1 in the Eastern Conference finals NBA basketball playoffs series, Tuesday, May 19, 2026, in New York. (AP Photo/Seth Wenig)

NEW YORK (AP) — The U.S. stock market bounced back Wednesday after pressure eased on Wall Street from the bond market and oil prices gave back some of their big gains.

The S&P 500 climbed 1.1% for its first rise in four days and pulled closer to its all-time high set last week. The Dow Jones Industrial Average added 645 points, or 1.3%, and the Nasdaq composite rallied 1.5%.

Stocks got a lift from easing yields in the bond market, which offered relief following rapid climbs that had rattled stock markets worldwide recently. The yield on the 10-year Treasury fell to 4.57% from 4.67% late Tuesday, which is a significant move for a market that measures things in hundredths of a percentage point.

The 10-year Treasury yield had been rising from less than 4% before the war with Iran began, along with other yields around the world, because of worries that the fighting will keep oil prices high, among other factors. The inflation concerns not only seemed to eliminate the chances for a cut to interest rates by the Federal Reserve this year, they also heightened the risk that central banks may have to raise rates in 2026.

High yields slow economies and weigh on prices for stocks, cryptocurrencies and all kinds of other investments. Besides driving up rates for mortgages, they could also curtail companies’ borrowing to build the artificial-intelligence data centers that have been supporting the U.S. economy’s growth recently.

Yields eased Wednesday as oil prices pulled back some more. The price for a barrel of Brent crude fell 5.6% to settle at $105.02, though it remains well above its roughly $70 level from before the war. Prices have been yo-yoing on rising and falling hopes that the United States and Iran can reach an agreement to allow oil deliveries to fully resume from the Persian Gulf to customers worldwide.

A report showing less bad inflation in the United Kingdom than economists expected also helped calm yields worldwide.

With the easing of yields, technology stocks helped lead Wall Street higher.

Nvidia rose 1.3% ahead of its latest profit report, which is scheduled to arrive after trading ended for the day, and was the strongest force lifting the S&P 500. Other tech stocks leading the market included Advanced Micro Devices, up 8.1%, and Intel, up 7.4%.

Smaller companies can feel even bigger relief from lower yields than their bigger rivals because many need to borrow to grow. The Russell 2000 index of the smallest U.S. stocks jumped 2.6%, more than double the gain of the S&P 500, which measures the biggest U.S. stocks.

Also helping to drive the market was the company behind TJ Maxx, Marshalls and other stores, which climbed 5.7% after delivering stronger profit and revenue for the latest quarter than analysts expected. TJX’s CEO, Ernie Herrman, said the current quarter is off to a good start, and the off-price retailer raised its forecasts for revenue and profit this year.

Red Robin Gourmet Burgers jumped 18.2%, and Cava Group rose 3.1% following their own better-than-expected profit reports. Such results raise hopes that households can keep spending and supporting the economy, even though they’re contending with high gasoline prices and widespread discouragement about economic conditions.

Most big U.S. companies have likewise reported better profits for the start of 2026 than analysts expected, which has helped stocks run to records. Stock prices tend to follow the path of corporate profits over the long term.

On the losing side of Wall Street was Target, which fell 3.9% even though the retailer reported better profit and revenue for the latest quarter than analysts expected. A new CEO, Michael Fiddelke, is trying to turn around the company and boost its revenue.

Expectations were high for the company’s performance after Target’s stock came into the day with a gain of more than 30% for the year so far, quadruple the S&P 500’s gain.

All told, the S&P 500 rose 79.36 points to 7,432.97. The Dow Jones Industrial Averae jumped 645.47 to 50,009.35, and the Nasdaq composite rallied 399.65 to 26,270.36.

In stock markets abroad, indexes climbed in Europe following weaker finishes across Asia.

Tokyo’s Nikkei 225 fell 1.2% as the yield on the 10-year Japanese government bond slipped but remained near its highest level since 1997.

AP Business Writers Matt Ott and Elaine Kurtenbach contributed.

Options trader Chris Dattolo works on the floor of the New York Stock Exchange, Wednesday, May 13, 2026. (AP Photo/Richard Drew)

Specialist Michael Pistillo. Left, and trader Fred's Demarco work on the floor of the New York Stock Exchange, Wednesday, May 13, 2026. (AP Photo/Richard Drew)

A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Monday, May 18, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)

Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index (KOSPI), right, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, May 20, 2026. (AP Photo/Ahn Young-joon)

Currency traders watch monitors at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, May 20, 2026. (AP Photo/Ahn Young-joon)

A currency trader talks on the phone near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won, left, at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, May 20, 2026. (AP Photo/Ahn Young-joon)