AC Milan gets timely boost with Fonseca's first win ahead of crucial week

MILAN (AP) — New AC Milan coach Paulo Fonseca got his first Serie A win in style. It couldn’t have come at a better time for the Rossoneri.

A devastating opening half an hour set Milan on its way to a convincing 4-0 win over promoted Venezia on Saturday for its first victory of the season after two draws and a loss.

The result and the manner of the victory are a timely confidence boost ahead of a crucial week. Fonseca's team hosts Liverpool in the Champions League on Tuesday followed by a Serie A derby match against defending champion Inter Milan.

Also, Bologna remained winless but came from two goals down to salvage a 2-2 draw against Como.

Juventus drew at Empoli 0-0.

Rafael Leao and Theo Hernandez were benched for Milan’s last match but were back in the starting lineup and the pair combined to score the opener after just 90 seconds.

Hernandez won the ball in midfield and played it to Leao who gave it back to him with a delicious backheeled flick on the half turn. That sent the France international down the left and he squeezed his shot past Jesse Joronen at the near post.

Milan doubled its lead in the 16th minute when Youssouf Fofana headed in a Christian Pulisic corner, and the United States international got on the scoresheet himself in the 25th by converting a penalty after Tammy Abraham was tripped by Joronen.

The Rossoneri were awarded another penalty less than three minutes later after the video assistant referee spotted Venezia defender Joël Schingtienn trodding on Leao’s foot.

This time Abraham stepped up to net his first goal for Milan since joining from Roma last month.

It was the first time Milan scored four times in the first half hour of a Serie A match since 1958.

Francesco Zampano thought he pulled one back for Venezia but it was ruled out and Venezia midfielder Hans Nicolussi Caviglia was shown a second yellow card for a foul on Ruben Loftus-Cheek and sent off.

Bologna’s preparations for its Champions League debut are not going well though it managed to spoil Como’s first Serie A home match in 21 years.

Bologna, which hosts Shakhtar Donetsk on Wednesday, has just three points from its opening four matches. Its only other appearance in Europe’s top competition was in 1964 in the preliminary round of the old European Cup.

Como made a great start in the fifth minute when Patrick Cutrone attempted to roll the ball across the six-yard box but it took a huge deflection off Bologna defender Nicolò Casale for an own goal.

Bologna improved after the break but found itself further behind when Cutrone raced onto a through ball and cut inside past a defender and fired into the far bottom corner.

Tommaso Pobega hit the post for Bologna, which finally pulled one back in the 76th through substitute Santiago Castro.

Another substitute helped the visitors snatch a point when Samuel Iling-Junior curled a fine strike into the top left corner in stoppage time.

Juventus, and more surprisingly Empoli, are among six unbeaten sides.

Empoli held Monza and Bologna to draws either side of a shock 2-1 win at Roma. Juventus' perfect start to the season was ruined by Roma in a goalless draw before the international break.

On Saturday, there were few clearcut chances in Empoli although home goalkeeper Devis Vásquez made spectacular saves to fingertip out a Federico Gatti header and deny Dusan Vlahovic in a one on one with the Juventus forward.

Empoli had a good opportunity in the 73rd minute following an Alberto Grassi one-two with Pietro Pellegri but the finish was straight at Mattia Perin.

The host could have won it right at the death but Gatti flew in with a great sliding block to keep out Emanuel Gyasi's close-range effort.

Juventus hosts PSV Eindhoven in the Champions League on Tuesday.

AP soccer: https://apnews.com/hub/soccer

AC Milan's Tammy Abraham, center, celebrates after he scored during the Serie A soccer match between AC Milan and Venezia at the San Siro stadium in Milan, Italy, Saturday, Sept. 14, 2024. (AP Photo/Antonio Calanni)

AC Milan's Matteo Gabbia, left, celebrates with teammate Christian Pulisic after scoring in a Serie A soccer match between AC Milan and Venezia at the San Siro Stadium in Milan, Italy, Saturday, Sept. 14, 2024. (Spada/LaPresse via AP)

AC Milan's Theo Hernandez, left, celebrates after he scored with Rafael Leaoduring the Serie A soccer match between AC Milan and Venezia at the San Siro stadium, in Milan, Italy, Saturday, Sept. 14, 2024. (AP Photo/Antonio Calanni)

AC Milan's head coach Paulo Fonseca gives instructions during the Serie A soccer match between AC Milan and Venezia at the San Siro stadium, in Milan, Italy, Saturday, Sept. 14, 2024. (AP Photo/Antonio Calanni)

AC Milan's Christian Pulisic celebrates after scoring in a Serie A soccer match between AC Milan and Venezia at the San Siro Stadium in Milan, Italy, Saturday, Sept. 14, 2024. (Spada/LaPresse via AP)

Juventus Kenan Yildiz, right, fights for the ball with Empoli's Saba Goglichidze, during the Italian Serie A soccer match between Empoli and Juventus at the Carlo Castellani Stadium in Empoli, Italy, Saturday, Sept. 14, 2024. (Marco Bucco/LaPresse via AP)

Juventus' Andrea Cambiaso, right, jumps past Empoli's Liam Henderson during the Italian Serie A soccer match between Empoli and Juventus at the Carlo Castellani Stadium in Empoli, Italy, Saturday, Sept. 14, 2024. (Marco Bucco/LaPresse via AP)

Juventus Dusan Vlahovic, top, is tackled by Empoli's Ardian Ismajli during the Italian Serie A soccer match between Empoli and Juventus at the Carlo Castellani Stadium in Empoli, Italy, Saturday, Sept. 14, 2024. (Marco Bucco/LaPresse via AP)

Como 1907's Patrick Cutrone celebrates after Bologna's Nicolo Casale scored an own goal, during the Serie A soccer match between Como and Bologna at the Giuseppe Sinigaglia stadium in Como, Italy, Saturday Sept. 14, 2024. (Antonio Saia/LaPresse via AP)

Como's Patrick Cutrone reacts during the Italian Serie A soccer match between Como and Bologna at the Giuseppe Sinigaglia stadium in Como, Italy, Saturday, Sept. 14, 2024. (Antonio Saia/LaPresse via AP)

Como's head coach Cesc Fabregas gives instructions during the Italian Serie A soccer match between Como and Bologna at the Giuseppe Sinigaglia stadium in Como, Italy, Saturday, Sept. 14, 2024. (Antonio Saia/LaPresse via AP)

NEW YORK (AP) — U.S. stocks fell Monday as a strong year for the market looks set to end on a sour note.

The S&P 500 fell 0.8% in afternoon trading. Roughly 90% of stocks within the index lost ground. With just two days left in 2024, the benchmark index is still on track for its second straight yearly gain of more than 20%.

The Dow Jones Industrial Average fell 319 points, or 0.7%, as of 12:27 p.m. Eastern time. The Nasdaq composite fell 0.8%.

Big Tech companies were among the heaviest weights on the market, worsening the slump. Apple fell 1% and Microsoft fell 1.1%. Their pricey valuations tend to have an outsized impact on the broader market.

Boeing fell 1.8% after one of its jets skidded off a runway in South Korea, killing 179 of the 181 people aboard. South Korea is inspecting all 737-800 aircraft operated by airlines in the country.

The disaster was yet another blow for Boeing following a machinists strike, further safety problems with its troubled top-selling aircraft and a plunging stock price. Its shares have declined more than 30% this year.

Airlines wavered in the wake of the crash. United Airlines fell 1.2% and Delta Air Lines slipped 0.5%. American Airlines shook off an early loss and gained 1.4%. They all include Boeing aircraft as part of their fleets.

Bond yields fell. The yield on the 10-year Treasury fell to 4.56% from 4.63% late Friday. The yield on the two-year Treasury fell to 4.26% from 4.33% late Friday.

Crude oil prices rose 1.2%. Energy stocks held up better than the rest of the market. The sector rose 0.4%, making it the only sector gaining ground within the S&P 500 index.

Natural gas prices jumped 10%. That helped support gains for natural gas producers. EQT Corp. rose 5.3%.

Indexes in Europe and Asia mostly fell.

Markets are nearing the close of a stellar year driven by a growing economy, solid consumer spending and a strong jobs market. Wall Street expects companies within the S&P 500 to report broad earnings growth of more than 9% for the year, according to FactSet. The final figures will be tallied following fourth-quarter reports that start in a few weeks.

Wall Street was encouraged by cooling inflation throughout the year that had brought the rate of inflation close to the Federal Reserve's 2% target. That raised hopes that the central bank would deliver a steady stream of interest rate cuts, which would ease borrowing costs and fuel more economic growth.

The Fed cut interest rates three times in 2024, but has signaled a more cautious approach heading into 2025 amid stubborn inflation and worries about it reheating. The latest report on consumer prices showed that inflation edged slightly higher, to 2.7%, in November.

Worries about the potential for inflation reigniting have been further fueled by tariff threats from incoming President Donald Trump. Companies typically pass along the higher costs from tariffs on goods and raw materials to consumers.

Investors have very little corporate and economic news to review this week, which is shortened by the New Year holiday. Markets will be closed on Wednesday.

On Thursday, investors will get an updated snapshot of U.S. construction spending for the month of November. On Friday, Wall Street will receive an update on manufacturing for December.

FIL:E - The New York Stock Exchange is shown in New York's Financial District on Dec. 23, 2024. (AP Photo/Peter Morgan, File)

Participants perform a traditional hand clap at the end of a ceremony to conclude the year's trading at the Tokyo Stock Exchange Monday, Dec. 30, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)

Nikkei 225 index is seen on screen at the site of a ceremony to mark the last trading day of the year at the Tokyo Stock Exchange Monday, Dec. 30, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)

Visitors look at the end of a ceremony to conclude the year's trading at the Tokyo Stock Exchange Monday, Dec. 30, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)

Participants perform a traditional hand clap at the end of a ceremony to conclude the year's trading at the Tokyo Stock Exchange Monday, Dec. 30, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)

A staff works on the last trading day of the year at the Tokyo Stock Exchange Monday, Dec. 30, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)

Nikkei 225 index is seen on screen as a TV camera crew films the site of a ceremony to mark the last trading day of the year at the Tokyo Stock Exchange Monday, Dec. 30, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)

Participants attend the end of a ceremony to conclude the year's trading at the Tokyo Stock Exchange Monday, Dec. 30, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)

Media wait for the ceremony to mark the last trading day of the year at the Tokyo Stock Exchange Monday, Dec. 30, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)

Hiromi Yamaji, CEO of Japan Exchange Group (JPX) delivers a speech at the end of a ceremony to conclude the year's trading at the Tokyo Stock Exchange Monday, Dec. 30, 2024, 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 Friday, Dec. 27, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)

FIL:E - People photograph the New York Stock Exchange in New York's Financial District on Dec. 23, 2024. (AP Photo/Peter Morgan, File)

People walk in front of an electronic stock board showing Japan's Nikkei index at a securities firm Friday, Dec. 27, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)

FILE - The New York Stock Exchange is shown behind the statue titled "Fearless Girl", Thursday, Dec. 12, 2024, in New York. (AP Photo/Julia Demaree Nikhinson, File)