Stocks, gold hit records, and a port strike looms

Stocks keep climbing, hitting a new round of records this week thanks to another cool inflation report. 

Not to be outdone, gold is gaining on its own, hovering at all-time highs. 

A looming port strike may bring an epic supply chain crunch, similar to what happened during the pandemic. 

Helene’s vicious path rocks Florida. 

The Department of Justice wants justice from Visa over high fees. 

Sam Bankman-Fried’s former gal pal, Caroline Ellison, was sentenced for her role in the collapse of FTX. 

Coke is goodnighting one of its flavors, and another retailer heads to the graveyard. 

RECORD RUN: Another week, another record for U.S. stocks that capped the third straight week of gains, with the Dow Jones Industrial Average and S&P 500 leading the charge…more on the markets.  Driving the action is more favorable inflation data, which just happens to be a favorite of the Federal Reserve’s…continue reading here.

VIDEO: Making the case for small cap stocks. 

GOLD’S GAIN: The yellow metal continues to defy the odds, hitting another all-time high…continue reading here. The biggest ETF backed by physical gold is up nearly 30% this year…SPDR GOLD shares price here.

VIDEO: A look at gold’s run and why it still has legs. 

PORT PAIN: A looming strike could impact three dozen ports from Texas to Maine and make food and critical medicines hard to come by…continue reading here. President Biden has the authority to intervene but it’s unlikely he will…continue reading here. 

VIDEO: Why a U.S. port strike could be catastrophic. 

DEVASTATION: Tropical Storm Helene pummeled Florida with fatalities and devastation. The recovery may be a long one…FOX Weather’s storm tracker.

DOJ VS. VISA: The Department of Justice alleges Visa has been behaving badly when it comes to the fees it charges…continue reading here. Shares of the credit card giant lost about 3% this week. Visa stock price here.

JAIL TIME: Caroline Ellison, the former girlfriend of Sam Bankman-Fried, was sentenced to jail this week and ordered to return $7 billion for her role in the collapse of crypto trading firm FTX, considered the largest fraud in U.S. history…continue reading here.

VIDEO FLASHBACK: SBF was sentenced nearly a year ago to 25 years.

BYE-BYE: Coke is phasing out one of its hottest flavors…continue reading here.

RETAIL RIP: Salt Life, which caters to the surfing community, is closing stores nationwide…continue reading here. The list of failed retailers is a long one. Here’s a look at good names gone bad…continue reading here.

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