Klay Thompson returns to cheers from some 400 Warriors employees

SAN FRANCISCO (AP) — Klay Thompson exited the team bus then beamed as he strolled back into Chase Center on Tuesday night, greeted by some 400 cheering Warriors employees who lined up along his path to the Dallas locker room to show their love and appreciation for the former Golden State star.

Once the ball was tipped a couple of hours later, Thompson tried to pull off an impromptu shimmy, Stephen Curry-style, as the former Splash Brothers dueled in different uniforms.

The employees who greeted Thompson sported “Captain Klay” hats, the giveaway for all fans on a celebratory night remembering his 13 years with the franchise and four championships he helped win.

“That was really cool,” Thompson said. “I'm very grateful for the employees to give me that kind of love ... totally unexpected and definitely put a smile on my face. Something I'll never forget.”

Those white hats filled Chase Center, where video highlights of Thompson showed in a place where he's still beloved — and always will be. Curry jogged up to Thompson, now wearing No. 31 with teammate Kyrie Irving in No. 11, and offered a quick embrace in their first words of the day before Andrew Wiggins also hugged his old teammate.

“Thankfully we were all able to focus on the game and just hoop and compete,” Curry said. “It was an unreal night for sure all the way around.”

Thompson scored 22 points on 7-for-17 shooting with six 3-pointers but watched Curry shine in the closing moments of Golden State's 120-117 victory. Thompson high-fived a fan afterward and tossed his white headband into the seats, giving some lucky patron an unexpected souvenir.

Earlier, after a brief jump-rope routine outside the Mavericks' locker room, Thompson ran out the tunnel and onto the floor to thunderous applause from Warriors fans with phones up to capture the moment of Thompson's return.

“It was a cool moment to feel the energy from the fans,” Thompson said. “Especially all the chatter that I heard, it was all positive.”

Curry had considered addressing the crowd before tipoff but he and Thompson traded a couple of text messages and they decided to each focus on the game, though coach Steve Kerr knew it would be something when they had to defend each other.

Just 15 seconds into the game Curry fouled Thompson, who scored the initial two points of the contest on free throws. He missed his initial two field goal attempts before knocking down a 3-pointer with 1:26 remaining in the opening quarter.

“I'm so surprised they ran a post up for him on the first play,” Curry said. “I blacked out on that one, I wasn't going to let him score and I fouled him. It was a pretty special night.”

The Warriors invited all their employees to be part of the welcoming committee for Thompson, who joined Dallas in July on a three-year, $50 million contract. Thompson, 34, missed more than 2 1/2 years — the entire 2019-20 and 2020-21 seasons — recovering from surgeries on his left knee and right Achilles tendon before making his comeback in January 2022.

“I think what he overcame is almost unprecedented,” Kerr said. “... The last couple of years after he came back he struggled reconciling all of that, losing those prime seasons. We all saw that, saw him struggle with it emotionally. We saw him fight to get his game back. He helped us win a championship, led the league in 3s two years ago, he did a lot of amazing things.

"We wished that this had gone forever, that Klay would have finished his career with us but circumstances always dictate these things. In the end I think he made the right choice. I think he needed a fresh start, I think he needed kind of a new set of surroundings and that was apparent last year. He was not happy and that was hard to see, because he deserves to be happy. At his core he's a very happy person.”

Thompson had tried to downplay the magnitude of being back in the Bay Area, considering it just another game in November.

“I hope you all didn't believe him,” said Curry, who watched the tribute video from the tunnel to have some space with all the emotions.

When the home crowd went crazy, jumped to their feet in a warm ovation and tipped those captain hats when he was introduced, Thompson became visibly emotional and clearly touched by the tribute. He waved and saluted in several directions.

“I couldn't imagine a better night all the way around,” Curry said.

Golden State held a “Salute Captain Klay” ceremony before tipoff to pay tribute to Thompson’s contributions to the franchise and his tradition of boating across the bay to games. He will be back again in February in the Mavs' second trip to Chase Center.

For Kerr, this moment felt far different from Thompson's triumphant return nearly three years ago from the injuries and daunting grind of rehab that the veteran guard considered some of the most difficult days of his life.

“That was a welcome back, we knew there were a lot of good times ahead. In fact there was a championship six months later,” Kerr said. “This one is obviously more of a goodbye, the first time we will have seen him. ... It'll feel very strange but it will be a different vibe, more of a thank you and a goodbye and everything that you've meant to us."

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

Dallas Mavericks guard Klay Thompson, right, is defended by Golden State Warriors guard Stephen Curry (30) during the first half of an Emirates NBA Cup basketball game in San Francisco, Tuesday, Nov. 12, 2024. (AP Photo/Jeff Chiu)

Dallas Mavericks guard Klay Thompson, left, loses the ball while driving to the basket against Golden State Warriors guard Stephen Curry (30) during the first half of an Emirates NBA Cup basketball game in San Francisco, Tuesday, Nov. 12, 2024. (AP Photo/Jeff Chiu)

Dallas Mavericks guard Klay Thompson waves toward fans before an Emirates NBA Cup basketball game between the Golden State Warriors and the Mavericks in San Francisco, Tuesday, Nov. 12, 2024. (AP Photo/Jeff Chiu)

Fans cheer as Dallas Mavericks guard Klay Thompson jogs onto the court to warm up before an Emirates NBA Cup basketball game against the Golden State Warriors in San Francisco, Tuesday, Nov. 12, 2024. (AP Photo/Jeff Chiu)

Dallas Mavericks guard Klay Thompson warms up before an Emirates NBA Cup basketball game against the Golden State Warriors in San Francisco, Tuesday, Nov. 12, 2024. (AP Photo/Jeff Chiu)

Golden State Warriors guard Stephen Curry, left, hugs Dallas Mavericks guard Klay Thompson, middle, as guard Kyrie Irving, right, walks on the court before an Emirates NBA Cup basketball game in San Francisco, Tuesday, Nov. 12, 2024. (AP Photo/Jeff Chiu)

Dallas Mavericks guard Klay Thompson reacts toward fans before an Emirates NBA Cup basketball game between the Golden State Warriors and the Mavericks in San Francisco, Tuesday, Nov. 12, 2024. (AP Photo/Jeff Chiu)

Denver Nuggets forward Michael Porter Jr., right, shoots over Dallas Mavericks guard Klay Thompson in the second half of an NBA basketball game, Sunday, Nov. 10, 2024, in Denver. (AP Photo/David Zalubowski)

FILE - Golden State Warriors guard Klay Thompson (11) shoots against Utah Jazz forward's Darius Bazley (21) and Brice Sensabaugh (8) during the first half of an NBA basketball game in San Francisco, April 14, 2024. (AP Photo/Jed Jacobsohn, File)

FILE - Golden State Warriors guards Klay Thompson, left, and Stephen Curry and forward Draymond Green, right, laugh while being interviewed, Nov. 30, 2023, in San Francisco. (AP Photo/Godofredo A. Vásquez, File)

Dallas Mavericks guard Klay Thompson, foreground left, is greeted by Golden State Warriors employees and media as he arrives before an Emirates NBA Cup basketball game between the Warriors and the Mavericks in San Francisco, Tuesday, Nov. 12, 2024. (AP Photo/Jeff Chiu)

Dallas Mavericks guard Klay Thompson is greeted by Golden State Warriors employees and media as he arrives before an Emirates NBA Cup basketball game between the Warriors and the Mavericks in San Francisco, Tuesday, Nov. 12, 2024. (AP Photo/Jeff Chiu)

NEW YORK (AP) — U.S. stocks are edging higher and hovering around their records Wednesday after the latest inflation update boosted hopes that more help for the economy will arrive next month from another cut to interest rates.

The S&P 500 rose 0.3% in afternoon trading, coming off its first loss since before Election Day last week. The Dow Jones Industrial Average was up 133 points, or 0.3%, as of 2:04 p.m. Eastern time, and the Nasdaq composite was 0.3% higher.

Stocks got support from easing yields in the bond market. The yield on the two-year Treasury, which closely tracks expectations for actions by the Federal Reserve, fell to 4.29% from 4.34% late Tuesday. The yield on the 10-year Treasury rose to 4.45% from 4.43% late Tuesday. Treasury yields mostly fell after a report said the inflation that U.S. consumers felt last month was exactly as economists expected. It accelerated to 2.6% from 2.4%, but an underlying measure called “core inflation” did not accelerate. Economists say core inflation can be a better predictor of future trends.

“Bang in-line core inflation leaves the Fed on track to cut rates in December,” according to Lindsay Rosner, head of multi sector fixed income investing at Goldman Sachs Asset Management.

The Fed began cutting interest rates from their two-decade high in September to offer support for the job market, hoping to keep it humming after bringing inflation nearly all the way down to its target of 2%. It cut again earlier this month, and traders now see an improved probability of roughly 82% that it will cut a third time in roughly a month, according to data from CME Group.

The question is what will happen in 2025. Prior forecasts published by the Fed implied it could keep cutting rates through next year. But Donald Trump’s victory in the presidential election may have scrambled those plans. Economists say his preferences for lower tax rates, higher tariffs and less regulation could ultimately lead to higher U.S. government debt and inflation, along with faster economic growth.

While lower interest rates can give a boost to the economy and to prices for investments, they can also give inflation more fuel.

Still, Wednesday’s data was reassuring for the market following a run of stronger-than-expected data on the economy, which could have signaled upward pressures on inflation.

“The market may be concerned that we are at an inflection point, with inflation potentially returning to an upward trajectory,” said Scott Wren, senior global market strategist at Wells Fargo Investment Institute. “We see inflation modestly higher next year. We don’t think today’s CPI data will do much to the market.”

On Wall Street, Rivian Automotive jumped 16.2% after the electric-vehicle company gave more details about a joint venture it's entering with Volkswagen Group that they had previously announced.

The deal’s total size could be worth up to $5.8 billion, which is more than the $5 billion the companies had previously said. The deal includes a $1.3 billion cash payment from Volkswagen to Rivian for licensing of background intellectual property and a 50% stake in the joint venture.

Spirit Airlines’ stock lost 57.1%. The airline said in a regulatory filing that it’s still trying to work out a deal to renegotiate the repayment of its debt, and if it can reach an agreement, it could wipe out the company’s stockholders. But it could also protect employees and customers.

Other airlines were among the market's leaders, including gains of 1.9% for Southwest Airlines and 1.1% for United Airlines.

In stock markets abroad, Japan’s Nikkei 225 fell 1.7% after its wholesale inflation rate reached its highest level since July of last year. South Korea’s Kospi sank 2.6% after Samsung Electronics shares fell to their lowest level in over four years.

Indexes were modestly lower across much of the rest of Asia and Europe.

In the crypto market, bitcoin crossed above $90,000 as cryptocurrencies generally soared. Trump has embraced cryptocurrencies and pledged to make his country the crypto capital of the world.

Dogecoin, a cryptocurrency that’s been a favorite of Tesla’s Elon Musk, jumped earlier in the day, but was mostly unchanged in afternoon trading, according to CoinDesk. Trump named Musk as one of the heads of a “Department of Government Efficiency,” or DOGE for short.

AP Writer Zimo Zhong contributed.

FILE - A sign marking the intersection of Broadway and Wall Street is shown in New York's Financial District on Oct. 30, 2024. (AP Photo/Peter Morgan, File)

A pair of traders work in their booth on the floor of the New York Stock Exchange, Thursday, Nov. 7, 2024. (AP Photo/Richard Drew)

A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Wednesday, Nov. 13, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)

A person rides a bicycle in front of an electronic stock board showing Japan's Nikkei index and US dollar/Japanese Yen exchange rate at a securities firm Wednesday, Nov. 13, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)

A person looks at an electronic stock board showing Japan's Nikkei index at a securities firm Wednesday, Nov. 13, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)

A person stands in front of an electronic stock board showing Japan's Nikkei index at a securities firm Wednesday, Nov. 13, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)

Person walk in front of an electronic stock board showing Japan's Nikkei index at a securities firm Wednesday, Nov. 13, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)