Morning Business Report: Retirement savings hit record highs as markets surge, Gap sales jump and media giants bid for Warner Bros. Discovery
Retirement savings reached new milestones in the third quarter of 2025, boosted by a strengthening stock market.
(LILAMAX)- Retirement savings reached new milestones in the third quarter of 2025, boosted by a strengthening stock market. A new report from Fidelity shows the average 401(k) balance rose 9% from a year earlier to an all-time high of $144,400. Individual retirement accounts also saw gains, with the average IRA balance increasing 7% year over year to $137,902.
Retailer Gap posted its strongest sales jump since 2018, marking its seventh consecutive quarter of growth. The company’s two largest brands — Old Navy and Gap — performed especially well. Old Navy, which makes up nearly 60% of the company’s total revenue, saw high demand in denim, activewear, kids and baby clothing.
On Wall Street, stocks swung sharply Thursday. An early rally reversed dramatically, sending the market on a 1,000-point swing before closing nearly 400 points lower. Initial excitement over Nvidia’s earnings report turned into concern that the Federal Reserve may not cut interest rates in December as some investors had hoped.
In the media world, Netflix, Paramount and Comcast have submitted bids to acquire parts of Warner Bros. Discovery. Paramount is pushing for a full merger to better compete with tech giants. Comcast, which owns NBC, is targeting the company’s studio and streaming divisions — including iconic franchises like Batman — to strengthen its digital business and theme parks. Netflix is also eyeing the studio and streaming assets, signaling a potential major shake-up in the entertainment industry.
A new survey from Talker Research, commissioned by Beyond Finance, found that 65% of Americans say it is nearly impossible to know how much they can “safely” spend. Only half of respondents created a holiday budget this season, and most of those either overspent or expect to do so. Many Americans are relying on credit cards, savings and buy-now, pay-later plans to cover expenses.
