America’s next tallest building is coming soon to a city you’d never expect

TheStreet’s J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets open for trading Monday, January 29.

Full Video Transcript Below:

J.D. DURKIN: I’m J.D. Durkin – reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.

Investors are looking ahead to a big week of earnings with names like Microsoft, Apple, Amazon, Google parent Alphabet, Meta, and Boeing all slated to release quarterly results.

Meanwhile, investors will also be looking ahead to the Federal Reserve’s 2-day policy meeting which kicks off Tuesday. The Fed will deliver a decision on interest rates when Chair Jerome Powell speaks on Wednesday. Markets are pricing in a near 100 percent chance that rates will be held steady.

In other news – when you think of the tallest buildings in America, you would normally think of places like New York and Chicago. But one group of developers wants to build the tallest building in the U.S. in an unlikely place: Oklahoma City.

Real estate company Matteson Capital and architecture firm AO want to build a 1,907-foot skyscraper, named the “Legends Tower,” in OKC. The new building would be more than double the height of Oklahoma City’s current tallest skyscraper, and the Legends Tower would be the fifth-tallest building in the world.

According to Matteson, the tower would be part of a bigger development project, one that would cost roughly $1.6 billion to complete. The Legends Tower itself would cost $770 million to build.

Right now, the 10 tallest buildings in the United States are all in either New York or Chicago, with the tallest being One World Trade Center, which stands at 1,776 feet. However, the tallest building in the world is Dubai’s Burj Khalifa – which at over 2,700 feet tall is more than double the height of the Empire State Building.

That’ll do it for your daily briefing. From the New York Stock Exchange, I’m J.D. Durkin with TheStreet.

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