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TGIF? Wall Street thinks so. After a weeklong selloff sent tech stocks plunging, along with the rest of the market, major indexes swung back up and set new milestones. 

We’ll bring you the latest below, and check in on what it’s like running a restaurant under the aggressive ICE surge in Minneapolis. First though, our colleague Kristin Schwab delves into the underworld of cargo theft. — Tony Wagner and Janet Nguyen
Most stolen goods end up on third-party selling sites like eBay and Facebook Marketplace, or get shipped overseas.
Justin Sullivan/Getty Images
The cargo crime rings that are costing you money
More and more thieves are stealing from ports and warehouses.

The cargo was loaded in Indiana, Kentucky, and Ohio. Trucks full of Oculus headsets, Bose speakers, and products from Bath & Body Works were destined for warehouses all over the country. But they never made it there. When drivers took breaks to eat, sleep or refuel, thieves swooped in.

“They stole the trailer, obviously changed the identifying markers on the trailer,” and drove the goods down to Florida to be resold, said Timothy O’Malley, the special agent in charge of the Indianapolis field office at the FBI.

Over 18 months, a group of men staked out warehouses and tracked drivers. In total, they swiped more than a dozen trucks. These were not like the dramatic heists you see on TV. Cargo thefts usually aren’t.

“This one was kind of more just plain old bad guys watching trucks and then waiting for an opportunity to steal those loads,” O’Malley said.

When most people think about retail theft, they probably think of smash-and-grabs or someone sliding an extra apple or two into their bag at self-checkout. But the crime that’s perhaps affecting companies the most right now happens before any products make it to store: cargo theft.

It’s when people steal pallets off trucks or even whole trucks of goods. Last year was likely the biggest for cargo theft on record, according to the American Trucking Association. And the nature of the crime has changed.

“It went from fathers, sons, uncles, cousins, brothers all making up the crew to now massive international crime rings,” said Scott Cornell, chair of the Transported Asset Protection Association.



 
News you should know

Let’s do the numbers

  • The stock market had a huge comeback today, making up for the week’s earlier losses. The Dow Jones rose 2.5%, closing above 50,000 for the first time ever. The S&P 500 jumped 2%, its best day since May, and the Nasdaq increased 2.2% 

  • But Amazon didn’t end the week on a good note. It sank 5.5% today, and double digits for the week. While the company had a good holiday season, investors blanched at its $200 billion planned AI investment.

  • Uber shares fell about 0.6% after the rideshare company was found liable for a sexual assault and ordered to pay $8.5 million in damages. The case could set up thousands more like it.

  • Bitcoin plunged 11% yesterday, dropping to around $60,000. But its price rebounded today, rising above $68,000. 

Your money

  • TrumpRX is a new government website that promises to sell discounted meds, but the reality is a bit more complicated. Here’s how to see if it will save you money.

  • There are deals to be had on the housing market — if you can afford to jump in. We asked experts what’s working against homebuyers right now, and what it would take for the market’s axis to flip. 

  • Connected cars already have ads, but automakers are ready to add a bunch more. Are drivers ready?

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QUOTE OF THE DAY
"There was one instance where an agent was just standing in front of our door for like half an hour."
—  Alex Rosario-Torres, owner of Bodega Taco Bar in Minneapolis

Rosario-Torres told us sales are down by 50% at his restaurant as Operation Metro Surge, the aggressive, deadly surge in immigration enforcement in Minnesota, enters its third month.

Masked, armed federal agents tend to depress foot traffic, but Rosario-Torres told us most of his employees are scared to come in too. He’s opening and closing the restaurant himself most days.

READ MORE
A bouquet of roses.

Manuta/Getty Images
Final note
Tariffs can’t stop romance

Customers will probably pay more for Valentine's Day roses this year thanks to tariffs placed on Colombia and Ecuador, which is where most flowers are imported from. But Miami International Airport is expecting to process more than 990 million cut flowers before the big day. Avianca Cargo, based in Colombia, is planning to transport 19,000 tons of flowers on 320 cargo flights, which is twice as many flights as usual.


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