Welcome to Markets Desk, here's what's moving the needle right now.
Social Security beneficiaries are getting a three point six percent cost of living adjustment heading into two thousand twenty seven, translating to roughly seventy five additional dollars per month for the average recipient. With more than half of retirees depending on those checks as their primary income source, this adjustment carries real weight for consumer spending patterns across the economy.
Shifting to streaming, Netflix is cutting one thousand jobs in what marks its most significant workforce reduction since two thousand twenty two. The cuts are concentrated in product, technology, legal, and human resources, signaling a leaner operational posture as the company balances subscriber growth against margin discipline. Investors will be watching closely to see whether this reflects a strategic reset or broader pressure on the business.
And in a move that tells you something about momentum trading, Cathie Wood's Ark Investment Management just put seventeen point three million dollars back into Meta Platforms, days after selling the same stock. Meta has climbed roughly seventeen percent over the past month, and Wood's reversal suggests she sees more runway ahead, though Ark's history of rapid repositioning means conviction here comes with an asterisk.
That's the tape. Markets Desk, signing off the floor.
