Industry News You May Have Missed

Lowe’s to acquire Foundation Building Materials for $8.8B
Lowe’s is buying Foundation Building Materials in an $8.8 billion cash deal to strengthen its “Pro” contractor business. FBM runs 370+ locations across the U.S. and Canada, serving ~40,000 professional customers with drywall, framing, ceilings, and more. The move comes as Lowe’s beat Q2 earnings expectations and raised full-year guidance, with the deal slated to close by year-end pending regulatory approval.

Manufacturing on the Upswing
U.S. factories are in growth mode. August’s flash PMI hit 55.4, the strongest reading since December, pointing to a rebound in business activity. A clear signal from the warehouse floor: demand is alive and moving.

Federal Reserve hints at September Rate Cut 👀
At the Jackson Hole symposium, Fed Chair Jerome Powell signaled a September rate cut could be on the table as labor market risks mount. Investors now see nearly a 90% chance of a 25 bps cut, sending stocks higher and bond yields lower. Still, some Fed officials are cautious, pointing to tariff-driven inflation pressures ahead of key jobs and inflation data in early September.

Peakstone Realty Trust reports Q2 results
Peakstone’s Q2 results highlight its pivot toward industrial outdoor storage. Industrial assets now make up 65% of its portfolio, boosted by two new IOS acquisitions and a fully leased redevelopment site. The REIT sold $182 million in office assets during and after the quarter, cutting leverage from 7.0x to 6.6x.

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