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The federal government shutdown enters its 23rd day today, after becoming the second-longest funding lapse in modern history, eclipsing the 1995-96 shutdown during the Clinton administration.
The holdup continues to be over healthcare. The House last month passed a seven-week bill extending government funding at its current levels. Democrats seek an extension of COVID-era subsidies for healthcare plans, otherwise set to expire Dec. 31. More than 24 million people in the US are insured through the programs, with nearly 4 million expected to lose coverage if costs increase next year. Federal subsidies cost an estimated $1.8T in 2023, roughly 7% of the US’ gross domestic product.
The Senate failed to pass the House bill yesterday for the twelfth time. Tomorrow, federal workers will miss their first full paychecks; hundreds of thousands of employees received partial paychecks on Oct. 10. |
JPMorgan Chase unveiled a new, roughly $3B, 60-story global headquarters in Midtown Manhattan this week, underscoring its over 225-year presence in New York City and commitment to in-person work post-pandemic.
The sixth-tallest building in Manhattan will house about 10,000 of JPMorgan’s 24,000 New York-based employees. Executives considered scaling the project back amid the rise of remote work, but CEO Jamie Dimon held firm to the original plan, which required rerouting part of the subway system. The 2.5-million-square-foot building features 19 restaurants and lighting calibrated to circadian rhythms. Gov. Kathy Hochul (D) praised 270 Park Avenue as emblematic of Manhattan’s post-pandemic rebound; office leasing in the borough hit a 19-year high in the first nine months of 2025. JPMorgan Chase is also renovating and buying nearby properties.
With roots in a New York bank started by Aaron Burr in 1799, JPMorgan Chase is now the world's largest bank by market capitalization, valued at over $800B. Watch a history overview here. |
Researchers have compared 30 antidepressants for a variety of side effects, including impact on weight, heart rate, total cholesterol, and blood pressure.
The meta-analysis, published Tuesday, reviewed 151 randomized trials with data on 58,534 people. Researchers analyzed the drugs’ side effects for around eight weeks, with impacts ranging widely. People taking agomelatine lost over 5 pounds on average, while those taking maprotiline gained nearly 4.5 pounds. Some antidepressants—desvenlafaxine, venlafaxine, duloxetine, and paroxetine—were associated with higher total cholesterol. Nortriptyline was associated with a 14 beats-per-minute increase in heart rate, while fluvoxamine was associated with a decrease of 8 beats-per-minute. Read the full study here.
More than 11% of US adults take medication for depression. Researchers hope the analysis—and an online tool they had previously developed—will help practitioners better tailor prescriptions to meet patients' unique concerns and preferences. Learn about the tool here (w/video). |
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In partnership with SmartAsset |
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How to Set Up a Family Trust |
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For many investors, a family trust may be a key part of a smart estate and financial plan, especially for preserving and passing on wealth.
Wondering if this strategy is right for your assets? Consulting a financial advisor could be a good first step to answering that question and potentially setting one up. Financial advisors can be well-versed in estate planning and helping find the most tax-efficient way to leave assets to your heirs.
Try SmartAsset's no-cost tool to find and compare vetted financial advisors serving your area, each legally bound to work in your best interest. It's never too late to plan to work toward a comfortable retirement. Get your financial advisor matches today. |
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Sports, Entertainment, & Culture |
> Fox to air all 2026 FIFA World Cup games (June 11-July 19), more than doubling 2022 coverage (More) | NHL signs first-of-its-kind multiyear licensing deal with prediction markets Kalshi and Polymarket (More) |
> San Francisco Giants hire University of Tennessee coach Tony Vitello as manager, marking first MLB manager hire directly from college program (More) | NFL reaffirms Bad Bunny Super Bowl show after conservative backlash (More) |
> Misty Copeland gives farewell performance at American Ballet Theatre after five-year hiatus; Copeland became the elite company's first Black principal dancer in 2015 (More) |
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> General Motors to integrate Google's Gemini AI into cars next year as part of push to transform vehicles from modes of transportation into intelligent assistants (More) |
> Physicians discover link between COVID-19 mRNA vaccines and survival of patients with late-stage lung cancer and melanoma, suggesting mRNA vaccines train the immune system to kill tumors (More) |
> Researchers find female mice can become more aggressive toward their pups when deprived of food, revealing interaction between the hunger and parenting circuits in the brain (More) |
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In partnership with Miso Robotics |
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> US stock markets close lower (S&P 500 -0.5%, Dow -0.8%, Nasdaq -0.9%) (More) | Tesla shares fall in after-hours trading after Q3 earnings miss analyst estimates; company reports 12% Q3 revenue growth following two quarters of declines (More) |
> Meta to cut 600 jobs in AI unit (More) | Amazon planning to expand robots to meet rising demands, equivalent to replacing 600,000 workers by 2033, per report (More) |
> Influencer platform ShopMy raises $70M at a $1.5B valuation; founded in 2020, ShopMy connects brands to consumers via content creators (More) |
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> Treasury Department sanctions Russia's two largest oil companies, Rosneft and Lukoil, each valued at over $50B; announcement comes after President Donald Trump cancels Budapest summit with Russian President Vladimir Putin (More) |
> White House will reportedly demolish the entire East Wing as part of its project to construct a new 90,000-square-foot ballroom; White House pledges to submit blueprints to federal agency for review (More) | See previous write-up (More) |
> US military kills two people in eighth strike on an alleged narcotrafficking boat, this time in the Pacific Ocean (More) |
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> Looking for America
The Atavist | Masha Hamilton. A mother and her grown son travel nearly 2,000 miles along Interstate 95 from Miami to Maine, stopping at rest areas to hear strangers' stories and discover what binds Americans together. (More) |
> Wealth, Lies, and Hermès
WSJ | Nick Kostov. An Hermès heir alleges his trusted wealth manager secretly sold off billions in Hermès shares and left him with nothing—a claim tangled further by his manager's sudden death. (More) |
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In partnership with SmartAsset |
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Capital Gains: Which Expenses Can You Deduct? |
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If you’ve built substantial wealth, capital gains taxes may quietly erode far more of your investment returns than you realize. The good news? The tax code offers legitimate ways to potentially help minimize that bill — if you know where to look.
This could be why many investors may work with a financial advisor to help integrate proactive tax planning into their broader wealth management and preservation strategy. Take SmartAsset's free quiz to find vetted financial advisors who may be able to help. Get your financial advisor matches today. |
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Clickbait: Breathing through the butt might be medicine's next frontier.
Historybook: First National Women’s Rights Convention begins (1850); Comedian and "Tonight Show" host Johnny Carson born (1925); Soccer legend Pelé born (1940); Suicide bombings at US Marine barracks in Beirut, Lebanon, kill 241 US military personnel (1983); 130 die in Moscow theater hostage crisis (2002).
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