Ticker: Social Security recipients get a 2.8% boost in 2026; Wall Street hits records

The Social Prevention Administration s annual cost-of-living adjustment will go up by in translating to an average increase of more than for retirees every month agency personnel revealed Friday The benefits increase for nearly million Social Measure recipients will go into effect beginning in January And increased payments to nearly million people receiving Supplemental Measure Income will begin on Dec The cost-of-living adjustment or COLA for retirees and disabled beneficiaries is financed by payroll taxes collected from workers and their employers up to a certain annual salary which is slated to increase to in from in The announcement was meant to be made last week but was delayed because of the federal leadership shutdown Wall Street hits records U S stocks hit records on Friday after an update on inflation came in a bit less painful than feared The S P rose and topped its prior all-time high which was set earlier this month The Dow Jones Industrial Average rallied points or and the Nasdaq composite climbed Both also set records The records on inflation is encouraging because it could mean less pain for lower- and middle-income households struggling with still-high increases in prices every month Even more importantly for Wall Street it could also clear the way for the Federal Reserve to keep cutting interest rates