Ex-Social Security leader sounds alarm: DOGE staff cuts will lead to ‘total collapse’ of systems
WASHINGTON — The former head of the Social Security Administration is warning Americans of possible benefit interruptions following newly announced cuts at the agency.
“People should start saving now,” said former SSA Commissioner Martin O’Malley in an interview with CNBC.
O’Malley’s comments come in response to planned cuts taking place at the SSA.
Read MoreS&P 500 and Nasdaq: Nvidia Drags Tech Lower While Industrials Hold—Stock Analysis
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Read MoreStock market today: Dow, S&P 500, Nasdaq slip as Trump tariffs stalk markets
Data out Monday showed activity in the manufacturing grew less than expected in February while costs increased.
The Institute for Supply Management’s manufacturing PMI registered a reading of 50.3 in February, down from January’s 50.9 reading and below the 50.7 economists had expected. Readings above 50 for this index indicate an expansion in activity,
» Read more about: Stock market today: Dow, S&P 500, Nasdaq slip as Trump tariffs stalk markets »
Read MoreStock Market Today: S&P 500, Nasdaq Fall; Dollar Weakens as Trump Tariffs Loom
President Trump and geopolitics are setting the agenda for markets at the start of the week.
Investors are braced for more last-minute wrangling between the U.S. and its trading partners, with a 25% levy on Canadian and Mexican goods slated to start Tuesday. Commerce Secretary Howard Lutnick said Sunday that President Trump hasn’t decided yet whether to go ahead.
» Read more about: Stock Market Today: S&P 500, Nasdaq Fall; Dollar Weakens as Trump Tariffs Loom »
Read MoreElon Musk's wealth tanks by $102 billion in 2 months as Tesla stock hits the skids
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Elon Musk’s net worth has tumbled by $102 billion this year due to a plunge in Tesla stock.
The Burst
1 Stock Paying a Massive 6.8% Yield
Many economists, including Nobel Prize-winner Paul Krugman, have pointed out that the stock market only represents a small area of the economy. The market can thrive even while people struggle with financial uncertainty, political strife, and worldwide illness.
Regardless of what economists say, it seemed strange to many that the market could reach new heights while so many consumers struggle.
» Read more about: 1 Stock Paying a Massive 6.8% Yield »
Read MoreThe Ivy
Alert: 1 Leading Worldwide Broker Has 45.4% Upside
Investment Alert: Buy Interactive Brokers (IBKR) Under $75/share
Disclaimer: Investment Alerts have a medium to long-term time horizon. These do not constitute financial advice and you should contact a financial advisor before deciding whether it is appropriate for your individual circumstances.
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