COPENHAGEN, Denmark (AP) — Two-time Tour de France winner Jonas Vingegaard will not race again this season after fracturing a collarbone at the Tour de France, his team said Monday.
Vingegaard won the Giro d’Italia — completing a career sweep of the three Grand Tours — and Paris-Nice stage race in a successful first half of the season, then crashed out of the Tour de France’s 15th stage a month ago as his great rival Tadej Pogačar dominated.
“Due to the collarbone injury, the start of my training has been delayed and it is not possible for me to get back to top level in the coming period,” Vingegaard said in a statement released by Team Visma-Lease a Bike.
The 29-year-old Dane’s only realistic targets would have been the world championships road race in Montreal on Sept. 27 and the one-day classic Tour of Lombardy on Oct. 10.
“The focus is on preparing optimally for the goals of the 2027 season,” Vingegaard said.
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FILE - Slovenia's Tadej Pogacar, left, talks to Denmark's Jonas Vingegaard, right, before the start of the eleventh stage of the Tour de France cycling race with start in Vichy and finish in Nevers, France, Wednesday, July 15, 2026. (AP Photo/Mosa'ab Elshamy, File)
NEWYORK (AP) — U.S. stocks are drifting near their record heights on Monday, ahead of a week where profit reports from the nation’s biggest retailers could give a hint about how shoppers are dealing with high inflation and a slowing job market.
The S&P 500 slipped 0.1% but remains near its all-time high set Thursday. The Dow Jones Industrial Average was down 163 points, or 0.3%, as of 10:30 a.m. Eastern time, and the Nasdaq composite was virtually unchanged.
Wall Street has run to records in large part because profits are booming for big U.S. companies. Those in the S&P 500 index are on track to deliver growth of roughly 50% for earnings per share in the spring from a year earlier, according to FactSet. That’s much better than analysts expected and would be the best since five years ago, when the economy was erupting out of the chasm created by the COVID pandemic.
Nearly all the companies in the S&P 500 have already turned in their profit reports for the spring. Still to come are big retailers, including reports this upcoming week from Home Depot, Target and Walmart.
They’re facing pressure. Their customers’ incomes may be turning iffier after U.S. employers surprisingly cut more jobs last month than they added. At the same time, their customers are continuing to see bills rise quickly as inflation remains much higher than anyone would like.
A report last week said that shoppers surprisingly spent less at U.S. retailers last month than in June, and CEOs for retailers could give color this week on what they’re seeing.
In the meantime, the wait continues for what the war with Iran will do with oil prices. The price for a barrel of Brent crude rose 0.4% to $88.87 Monday in what counts as a relatively modest move compared with its jagged recent swings.
Brent zigzagged between $72 and $102 last month as hopes rose and fell that the United States and Iran could reach a deal that would allow oil tankers to freely exit the Persian Gulf again.
In the bond market, Treasury yields edged higher following their own big recent moves. The yield on the 10-year Treasury ticked up to 4.70% from 4.68% late Friday following a report showing stronger-than-expected growth in manufacturing in New York state.
The 10-year yield has shot up from 3.97% before the war with Iran, largely because higher oil prices raised the pressure on inflation and upped the probability that the Federal Reserve will have to hike interest rates.
Higher rates could keep a lid on inflation, but they do so by intentionally slowing the economy and making it more expensive for everyone to borrow money. The average long-term U.S. mortgage rate has already jumped near its highest level in a year because of the rise in the 10-year Treasury yield.
Reports last week, though, showed that inflation last month was not as bad as earlier in the summer. That raised hopes that the Fed could wait until later in the year before having to decide whether to raise its main interest rate.
On Wall Street, trading was relatively quiet.
L3Harris Technologies fell 3.2% after the defense company said Christopher Kubasik stepped down as its CEO and chairman following “certain conduct by Kubasik that was not consistent with the values of the Company.” It gave few details but said the conduct was not related to its financial reporting, controls, customer relationships or operational performance.
Alphabet ticked 0.7% lower even though Berkshire Hathaway said it increased its investment in Google’s parent company, along with several homebuilders. Berkshire built a reputation for buying stocks at affordable prices under its former CEO, famed investor Warren Buffett.
Constellation Brands fell 4.8% after Berkshire said it sold all its holdings in the seller of Modelo beer and Robert Mondavi wine.
In stock markets abroad, indexes dipped in Europe following a stronger finish in Asia.
Tokyo's Nikkei 225 rose 0.7% after a report said Japan's economy grew at a slower pace in the April-June quarter than economists expected. Indexes jumped 1.3% in Hong Kong and 1.4% in Shanghai for some of the world’s biggest moves.
AP Business Writers Yuri Kageyama and Michelle Champan contributed to this report.
Earlier versions of this story incorrectly reported that Japan’s economy grew slightly faster than expected in the April-June quarter.
Specialist Michael Pistillo works on the floor of the New York Stock Exchange, Wednesday, Aug.. 5, 2026, in New York. (AP Photo/Yuki Iwamura)
People walk past the Nasdaq MarketSite, Thursday, Aug. 6, 2026, in New York. (AP Photo/Yuki Iwamura)
A general view shows the New York Stock Exchange, Friday, Aug. 7, 2026, in New York. (AP Photo/Yuki Iwamura)
People walk in the rain near electronic stock board showing Japan's Nikkei index at a securities firm Thursday, Aug. 13, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
A person walk in front of an electronic stock chart board showing Japan's Nikkei index at a securities firm Thursday, Aug. 13, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
