MADRID (AP) — Welsh rider Josh Tarling is set to take part in the Spanish Vuelta starting this weekend, just over a week after his brother Finlay Tarling was killed in the Volta a Portugal.
Netcompany Ineos named its team for the race on Thursday, including the 22-year-old time trial specialist Josh, who returns to the Vuelta after making his debut in 2024 and a month after completing his first Tour de France.
“We all fully support Josh in his decision to take part in the race,” team race director Geraint Thomas said.
The 19-year-old Finlay Tarling was killed during the eighth stage of the Volta a Portugal on Aug. 14 when he was struck by a vehicle. The driver reportedly missed the signs from stewards and entered the road going in the opposite direction of the race.
Cycling team NSN withdrew its development squad from the rest of the race the following day.
Finlay Tarling, like his older brother, was also a time-trial specialist.
The 81st Vuelta starts Saturday with a very technical individual time trial in Monaco, where race favorite Tadej Pogačar lives.
The Slovenian rider is aiming to complete a Grand Tour hat trick after winning a record-equaling fifth Tour de France last month to add to his 2024 Giro d’Italia triumph. The Vuelta is the only Grand Tour race Pogačar is yet to conquer.
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FILE - Josh Tarling, of Britain, gets ready to start the men's cycling time trial event at the 2024 Summer Olympics, July 27, 2024, in Paris. (AP Photo/Thibault Camus, File)
NEW YORK (AP) — A rise in oil prices on Thursday is sending worries about inflation and yields in the bond market higher, erasing some of the relief the U.S. Treasury Department created the day before. A drop for Walmart following its latest profit report helped drag the U.S. stock market lower.
The S&P 500 slipped 0.4% and is on track for a fourth loss in the five days since setting its all-time high last week. The Dow Jones Industrial Average was down 424 points, or 0.8%, as of 1:02 p.m. Eastern time, and the Nasdaq composite was 0.7% lower.
The bond market remains the center of action after yields charged higher through the summer on worries about high inflation, gargantuan government debts and other factors. Treasury Secretary Scott Bessent made a move Wednesday that jolted financial markets to at least double the size of his department’s planned purchases of longer-term Treasurys from Sept. 9 through Nov. 4.
That helped push yields down after the 10-year Treasury’s yield had hit its highest level in more than a year and the 30-year yield got back to where it was in 2007, before the Great Recession sent yields toward zero worldwide. It’s a big deal because high yields slow the economy by raising interest payments for people, companies and the government, and they can undercut prices for stocks and other investments.
But analysts had cautioned the effect may be short lived, given how small the purchases are relative to the overall size of the Treasury market and how they don't fix the fundamental concerns of investors that had driven up yields. Plus, more signals arrived quickly to push worries higher.
The U.S. government’s debt topped $40 trillion on Wednesday, a staggering record that arrived just months after the national debt first blew past the $39 trillion mark in April, because Washington continues to spend far more money than it brings in.
And on Thursday, the price for a barrel of Brent crude climbed 1.8% to $93.24 as uncertainty continues about when the war with Iran will allow oil tankers to freely exit the Persian Gulf again. President Donald Trump threatened Iran with “the MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY” late Wednesday but provided few details.
That helped push the 10-year Treasury yield up to 4.70% from 4.65% late Wednesday. It’s almost back to its 4.71% level from late Tuesday, before the Treasury Department made its announcement.
A couple encouraging reports on the U.S. economy also helped push up longer-term Treasury yields, which move with expectations for the economy and inflation in coming years. One said fewer U.S. workers applied for unemployment benefits last week than economists expected, while another said manufacturing in the mid-Atlantic region appears to be much stronger than expected.
On Wall Street, Walmart was one of the heaviest weights on the S&P 500 and fell 8.9% even though it reported stronger profit and revenue for the latest quarter than analysts expected. Investors focused instead on how an important underlying measure of revenue growth at its stores slowed again. Its forecast for profit in the current quarter also fell short of analysts’ expectations.
Given its massive size, Walmart offers a look at how shoppers are doing across the United States. A surprisingly weak update on sales at U.S. retailers overall last month had raised worries that shoppers may be succumbing to pressure from high inflation and a job market that may be looking less solid.
Advance Auto Parts tumbled 25.7% after the retailer reported weaker revenue for the latest quarter, even though its profit topped expectations. CEO Shane O’Kelly said that “tighter household budgets constrained spending more than we anticipated, especially during the last four weeks of the quarter.”
Spending by U.S. consumers is the main engine of the economy, and a pullback by them could exacerbate what's already a slowdown in growth for the economy.
A pullback could also mean a double-whammy for travel companies, which would see fewer bookings when they have to pay higher prices for fuel. Norwegian Cruise Line Holdings fell 4.1%, while United Airlines sank 3.2% and American Airlines lost 2.4%.
Helping to keep Wall Street’s losses in check was Deere, which reported stronger profit and revenue for the latest quarter than analysts expected. It rose 8.8% as the company said order trends indicate the agriculture equipment business looks set to accelerate after this year.
Oil companies also rose with the gains for crude prices. Exxon Mobil added 1.7%, and ConocoPhillips climbed 3.1%.
In stock markets abroad, indexes were mixed in Europe following a stronger finish in Asia.
South Korea’s Kospi soared 5.9% for one of the world’s biggest moves after the two tech titans that dominate its market, Samsung Electronics and SK Hynix, jumped. Such swings have become more common for Seoul's market, which has borne the brunt of rising and falling worries that winning stocks in the artificial-intelligence boom may have shot too high.
AP Business Writers Chan Ho-him and Michelle Chapman contributed to this report.
Options traders Chris Dattolo, Scott Frinzi, and Ravi Bhandari, left to right, work on the floor of the New York Stock Exchange, Monday, Aug. 17, 2026, in New York. (AP Photo/Yuki Iwamura)
Options trader Anthony Spina works on the floor of the New York Stock Exchange, Monday, Aug. 17, 2026, in New York. (AP Photo/Yuki Iwamura)
Options traders Chris Dattolo, Scott Frinzi, Justin Kanda, and Ravi Bhandari, left to right, work on the floor of the New York Stock Exchange, Monday, Aug. 17, 2026, in New York. (AP Photo/Yuki Iwamura)
People walk in front of an electronic stock board showing Japan's Nikkei index at a securities firm Thursday, Aug. 20, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Thursday, Aug. 20, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Thursday, Aug. 20, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
Staff arrange an electronic stock board showing Japan's Nikkei index at a securities firm Thursday, Aug. 20, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Thursday, Aug. 20, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
