New York property owner RXR completed its purchase of 590 Madison Avenue, the former IBM building, for $1.1 billion. That was the first New York office sale to exceed $1 billion in nearly three years.
Walmart is forming a partnership with OpenAI to let shoppers buy its products directly within ChatGPT, the artificial-intelligence chatbot. It is a signal by the biggest U.S. retailer that online shopping is going to become a different experience from the retail websites we are used to.
New York City’s office market leased 23.2 million square feet in the first nine months of 2025, the largest amount in 19 years.
JPMorgan Chase will invest $10 billion directly into companies vital for U.S. national security, such as defense and AI firms.
The Institute of Supply Management’s PMI, which measures US manufacturing capacity, was 48.7 in August. Anything below 50 indicates a contraction. That marked the sixth straight month of contraction, which is a worrisome trend given how significant manufacturing is to economic activity.
Most-actively-traded gold futures on Tuesday surpassed $4,000 a troy ounce for the first time. A 52% gain in futures this year is on track to outpace similar surges during the first year of the Covid-19 pandemic and the 2007-09 recession, trailing only the inflationary shock in 1979.
During the three months ended Aug. 31, the median sale price for luxury properties—defined as the top 5% of the market—increased 3.9% year over year to $1.25 million. But that is down from a 6.1% year-over-year price jump for the three months ended Aug. 31, 2024.
Fifth Third said it would acquire Comerica for $10.9 billion, marking the latest effort by midsize lenders to bulk up and compete with the nation’s biggest banks. The all-stock deal would create one of the nation’s top 20 largest banks, with $288 billion in total assets.
Gen X is barreling toward retirement with an excruciating student-loan burden. The six million-plus borrowers aged 50 to 61 have the highest average balance of any age group, at $47,857.
