Things To Do In SW Florida

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Wall Street rose to records on Thursday following better-than-expected updates on the economy and a mixed set of profit reports from big U.S. companies.

The S&P 500 climbed 0.5% to top its all-time high set a week ago. The Dow Jones Industrial Average rose 229 points, or 0.5%, and the Nasdaq composite added 0.7% to its own record set the day before.

Trading was calmer than Wednesday’s, when President Donald Trump jolted financial markets by saying he had discussed the “concept” of firing the chair of the Federal Reserve but was unlikely to do so. Such a move could help Wall Street get the lower interest rates it loves but would also risk a weakened Fed unable to make the unpopular moves needed to keep inflation under control.

A strong profit report from Taiwan Semiconductor Manufacturing Co. helped drive tech stocks, and its net income soared nearly 61% in the last quarter from a year earlier. The chip maker said it’s seeing strong demand from artificial-intelligence and other customers, and TSMC’s stock that trades in the United States rose 3.4%. read more

By MATT OTT

WASHINGTON (AP) — Online firearms seller GrabAGun Digital Holdings, with the stock ticker “PEW,” made its market debut on Wednesday after board member and son of the U.S. president, Donald Trump Jr., rang the opening bell at the New York Stock Exchange.

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Shares of GrabAGun spiked at first but then sank, closing down nearly 24%.

GrabAGun, which also sells ammunition and firearm accessories on its website, went public through a merger with a special acquisition company, or SPAC, named Colombier Acquisition Corp. The Palm Beach, Florida, company said the transaction netted it more than $119 million, which GrabAGun said will be used for working capital and “other purposes to accelerate the company’s future growth.” read more

By ANDREW DALTON

LOS ANGELES (AP) — The Walt Disney Co. on Wednesday sued a Hong Kong jewelry company it accuses of selling illegal Mickey Mouse jewelry.

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The international media and entertainment conglomerate filed a lawsuit in federal court in Los Angeles against the Red Earth Group, which sells jewelry online under the name Satéur.

Disney says the rings, necklaces and earrings in Satéur’s “Mickey 1928 Collection” violate its trademark rights and that the Hong Kong company is deliberately trying to fool customers into thinking the pieces are official Disney merchandise. read more

Travelers who love to cruise will soon have a new vessel for “wasting away again” with the announcement of Margaritaville at Sea‘s newest and largest cruise ship.

At 102,500 gross tons — with room to accommodate 2,680 passengers at double occupancy and a maximum of 3,450 guests — the Beachcomber will eclipse the cruise line’s other two ships, the Islander and Paradise. The ship that will become the Beachcomber is currently operating as Costa Cruise Lines’ Costa Fortuna, which debuted in 2003 and sails in the Mediterranean Sea.

The vessel, which will continue to sail with Costa until late next year, features 13 passenger decks, expansive outdoor spaces and an eight-story center atrium.

“With the acquisition of our third ship in three years, we are proud to once again invite guests to step into the Margaritaville state of mind on the open ocean,” said Christopher Ivy, CEO of Margaritaville at Sea, in a news release. “The launch of the Margaritaville at Sea Islander was a significant moment for our company, and the acquisition of the Costa Fortuna, our largest ship to date, gives us another exciting opportunity to bring even more fun and escapism to guests from a new homeport.” read more

By SEUNG MIN KIM

WASHINGTON (AP) — President Donald Trump said Wednesday that he was “highly unlikely” to fire Federal Reserve Chair Jerome Powell, a public statement made less than 24 hours after suggesting in a private meeting that he was leaning in favor of dismissing the head of the nation’s central bank.

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Trump confirmed that in a White House meeting Tuesday night with about a dozen House Republicans he had discussed the “concept” of dismissing Powell, long a target because of his refusal to lower interest rates as Trump wants. read more