🥵 MARKET RECAP → The Nasdaq (QQQ) closed higher Friday, snapping a three-day losing streak as technology stocks rebound.

📈 WALMART WINS THE DECADE → Walmart (WMT) has outperformed Target, Amazon (AMZN), and Costco (COST) under Doug McMillon, thanks to digital expansion, value focus, and scale-driven margin resilience.

🏢NYC REAL ESTATE MEETS MAMDANI → NYC’s real-estate sector is signaling willingness to work with Mamdani, signaling a pivot from resistance to engagement—while both sides anticipate a major shift in housing and investment policy.

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For the week beginning November 10, 2025

📈 Stock outperforms rivals. Under CEO Doug McMillon, Walmart (WMT) has outpaced Target (TGT), Amazon (AMZN), and Costco (COST) over the past 10 years, delivering stronger total shareholder returns despite operating in one of the industry’s tightest margin environments.

🛒 Strategic pivots pay off. McMillon’s push into e-commerce, delivery, advertising, and membership programs helped Walmart transform from a traditional retailer into a scaled digital operator—and investors rewarded the diversification.

🏪 Cost leadership still king. Even as peers leaned into premium or niche offerings, Walmart doubled down on value and scale, using its supply-chain muscle to protect margins and gain market share through inflation and volatility.

🏙️ Real Estate Braces for Change. The commercial real estate industry in New York City is preparing to engage with newly-elected mayor Zohran Mamdani, despite concerns over his proposals to freeze rents for more than 2 million tenants. Industry leaders say they’re ready to collaborate rather than resist, even as they warn of profitability pressure for landlords managing aging affordable housing stock.

🧩 Signal to Business: Let’s Talk. Top developers like RXR Realty and Rudin Management Company are publicly stating that office-leasing activity remains robust and companies aren’t heading for the exits amid Mamdani’s progressive agenda. Their message: New York’s fundamentals are strong, and a seat at the table is preferred over confrontation.

🚧 What’s at Stake for Investors. For property owners and investors, the shift under Mamdani means aligning with greater involvement in housing policy, zoning and tax changes—and rethinking return assumptions. The question isn’t just about rent levels, it’s about whether the pipeline for new build and redevelopment remains viable under tighter regulations.

JPMorgan Chase wins fight with fintech firms over fees to access customer data (CNBC)

Walmart CEO Doug McMillon to retire in January after nearly 12 years leading retailer (CNBC)

Bitcoin falls below $95,000 as four-day rout picks up steam (CNBC)

CEO of Southeast Asia’s largest bank says AI adoption already paying off: ‘It’s not hope, it’s now’ (CNBC)

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