The next financial capital of the U.S. may not be Wall Street but Y’all Street. Texas has been priming itself to become a major hub for finance, with investors in the Lone Star State working to usurp a share of the stock market from New York City. And these efforts may be paying off, as a slew of stock indexes are set to open in Texas in early 2026. 

An index trio
As of now, at least three major stock indexes, the Texas Stock Exchange (TXSE), New York Stock Exchange (NYSE) and Nasdaq have “announced plans to open stock exchanges in Dallas,” said the Texas Standard. The upstart TXSE plans to begin operations next year and begin trading by the end of 2026. 

The TXSE is “backed by more than $160 million from major investment firms,” said the University of Texas at Arlington. It’s expected to “facilitate the listing of relatively smaller companies,” unlike Wall Street stock exchanges, which have strict requirements.

But the TXSE will have competitors, as the NYSE has announced it will “reincorporate its Chicago electronic exchange and move it to Dallas, branding it NYSE Texas,” said The Texas Tribune. And the Nasdaq is also making a move in the Lone Star State, launching a “new exchange building on Nasdaq’s existing presence in the state,” said The Dallas Morning News. The Nasdaq already has “more than 200 listed companies in the state, representing nearly $2 trillion in market cap.”

‘No longer New York or nowhere’
All three of the exchanges are “electronic, and that means there won’t be any hectic trading floor in Dallas with brokers shouting out numbers,” said the Texas Standard. But their existence provides evidence that “Dallas, and the overall Texas economy, is rapidly growing.”

When it comes to finance, it’s “no longer New York or nowhere,” said Business Insider. There’s a “growing list of Wall Street names betting on Texas, drawn by low taxes, light regulations, and a cheaper cost of living.” Banks and financial institutions like Goldman Sachs, Bank of America, JPMorgan Chase and Charles Schwab have all expanded Texas operations in recent years.

A small but growing number of pregnant women are choosing to give birth alone or with a doula (a nonmedical birth companion) and without assistance from a doctor or midwife. They are instead trusting in influencers’ tales of the “euphoria” of what’s called a free birth. 

Why are some women choosing free birth?
Free births are promoted to expectant mothers as “returning something sacred that had been stolen from them” by the “violence” of modern obstetrics, said The Guardian, which conducted a yearlong investigation into the influencers behind the movement.

The exact number of free births in the U.S. is unknown, as many of them are unannounced. But distrust in professional maternity care is on the rise, as the maternal mortality rate climbs to one of the highest among wealthy countries worldwide. ​​In 2002, 45% of mothers agreed that giving birth is a “natural process that should not be interfered with unless absolutely medically necessary,” according to a survey by the National Partnership for Women & Families. By 2018, 74% of new mothers agreed.

Who’s promoting free births? 
A leading group is the Free Birth Society in North Carolina. Founded by former doula Emilee Saldaya, it promotes an “extreme” version of a home birth that dispenses with all medical support, said The Guardian. It even advises avoiding prenatal checks, including ultrasound scans, falsely claiming they can harm unborn babies. FBS has a popular podcast, a large Instagram following, and a YouTube channel boasting 25 million views.  

What do doctors say? 
It’s “medically illiterate, misleading or dangerous,” said experts who reviewed FBS material to The Guardian. During its investigation, the outlet identified 18 cases of late-term stillbirths, neonatal deaths, or other forms of “serious harm” in which FBS “played a significant role in the mother’s or the birth attendant’s decision-making.”

The rejection of prenatal care is particularly troubling, as it means that “risk factors,” such as a baby in a breech position, might go unnoticed, said Hannah Dahlen, a professor of midwifery, at The Conversation. This can lead to unforeseen complications during labor, and even if a doula is present, they “don’t have the training, regulation, or medical equipment and skills needed to manage emergencies.” 

But FBS’ Saldaya is defiant. Following publication of The Guardian’s investigation, she said to her 133,000 Instagram followers: “They will try to discredit you. They will lie about you. They will attempt to silence what they don’t understand.”

A street vendor displays his candy offerings in Cairo during celebrations commemorating the birth of Islamic scholar Sayyida Nafisa. Born in Mecca in the eighth century, Nafisa spent her final years in Egypt’s modern-day capital.
Ahmed Mosaad / NurPhoto / Getty Images

The end of the year brings the close of the 2025 publishing season, and there’s plenty to look forward to. This month, readers will be gifted a few thought-provoking book releases, including an adult romance and the biography of a literary giant.

‘The Heir Apparent’
Tasmanian journalist Rebecca Armitage’s debut delivers an adult spin on “The Princess Diaries.” In her “perceptive debut,” the British monarchy “navigates a crisis following the death of two heirs,” said Publishers Weekly. Lexi Villiers, previously the third in line for the crown, is whisked back to England to face her royal responsibilities. Armitage’s novel is a “standout portrayal of the royals and the tabloid culture surrounding them.” (out now, $29, Hachette Book Group)

‘A Danger to the Minds of Young Girls: Margaret C. Anderson, Book Bans and the Fight to Modernize Literature’
From the founder of the Chicago Review, Adam Morgan, comes a comprehensive biography of Margaret C. Anderson, who founded the early-20th-century avant-garde magazine The Little Review. Readers will “savor this enlightening depiction of a little-discussed but influential figure of both modernism and queer history,” said Publishers Weekly. (Dec. 9, $29, Simon & Schuster)

‘Tailored Realities’
Both longtime fans and those curious about Brandon Sanderson’s sci-fi and fantasy novels will savor this book. It’s “both a solid story collection for die-hard fans” and a “sort of retrospective look back on Sanderson's writing journey as a whole,” said Winter Is Coming. (Dec. 9, $30, Tor Books)