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Trump will be joined at his criminal trial by House Speaker Mike Johnson, and several other Republican politicians, NBC reported. On Monday, Trump's former lawyer and fixer told jurors that Trump had complained, "This is a disaster!" Republican presidential candidate former President Donald Trump and Speaker of the House Mike Johnson (R-LA) hold a press conference at Mr. Trump's Mar-a-Lago estate on April 12, 2024, in Palm Beach, Florida. Joe Raedle | Getty ImagesCohen testified that Trump told him to, "Just do it," to keep Daniels quiet. "Fantastic," Trump said after being told that effort had succeeded, keeping another woman quiet about claims that could harm his 2016 campaign, Cohen testified.
Persons: Michael Cohen, Susan Hoffinger, Donald Trump's, Stormy Daniels, Jane Rosenberg, Donald Trump, Trump, Mike Johnson, Trump's, Cohen, Joe Raedle, Daniels, Allen Weisselberg, Weisselberg, Karen McDougal, reimbursements Organizations: NBC, Trump, Daniels, Mr, Getty, Trump Organization, National Enquirer Locations: Manhattan, New York City, U.S, Louisiana, Lago, Palm Beach , Florida
Despite a stock market that's less than 1% away from record highs, bearish forecasts are out in full force. And a weakening in the labor market will crush investor confidence and send the stock market falling by as much as 30%. BCA Research: A recession in early 2025 will cause 30% stock market declineBCA strategist Roukaya Ibrahim warned that a 30% correction in the stock market could be sparked by a recession early next year. Rosenberg famously predicted the 2008 recession, but his consistently bearish economic outlooks since then have largely fallen flat. Advertisement"Forward earnings rose to a record high during April, consistent with a solid labor market.
Persons: , they're, Gary Shilling, we've, Shilling, BI's Jennifer Sor, we're, John Hussman, Hussman, wouldn't, Roukaya Ibrahim, Ibrahim, David Rosenberg, We're, Rosenberg, Ed Yardeni, Yardeni, landers Organizations: Service, Wall, Hussman Investment Trust, BCA, Bloomberg Locations: Wall
AdvertisementThe unprecedented criminal trial of a former US president has delivered several stunning moments so far. Jurors get a peek at the 34 records at the heart of the caseTwo weeks into Trump's trial, jurors finally saw the paperwork at the heart of the matter. A courtroom sketch of Stormy Daniels on the witness stand in Donald Trump's hush-money trial. On the stand, Daniels said Trump told her she reminded him of his daughter, commenting on her blond hair and beauty. Trump's legal team requested a mistrial on the basis of Daniel's testimony.
Persons: , Donald Trump, Trump, Stormy Daniels, Michael Cohen —, Hope Hicks, Cohen, Daniels, Hicks, Andrew Harnik, Jeffrey McConney, Deborah Tarassoff —, Alvin Bragg, Stephanie Clifford, Donald Trump's, Jane Rosenberg, Juan Merchan, audibly, Merchan, Judge Merchan, MARK PETERSON, Donald, Von ShitzInPantz, Todd Blanche, Joe Biden, Blanche, Cohen's Organizations: Service, Business, White House, Trump, White House Communications, AP, Trump Organization, Prosecutors, Reuters, Truth, Manhattan Criminal, Getty Locations: Manhattan, Lake Tahoe, New York City
The gauge is shown below in green and red alongside S&P 500 price action in blue. Most strategists at major Wall Street banks, meanwhile, generally see the S&P 500 staying above 5,000 through 2024. And as the stock market ground mostly higher, he persisted with his doomsday calls. He predicted in April 2007 that the S&P 500 could lose 40%, then it lost 55% in the subsequent collapse from 2007 to 2009. The S&P 500, by comparison, is up about 26% over the past year.
Persons: Jeremy Grantham, John Hussman, he's, Hussman, , it's, Warren Buffett, there's, David Rosenberg Organizations: Hussman Investment Trust, Business, CPS, Federal Reserve, Rosenberg Research, Bureau of Labor Statistics, Employment Dynamics, bullish
Cowbells herald a third Trump outburstDonald Trump at his criminal hush-money trial with lawyers Todd Blanche, left, and Emil Bove. I will not tolerate that," state Supreme Court Justice Juan Merchan complained of Trump to defense lawyer Todd Blanche, his voice raised. Then there was Stormy DanielsA courtroom sketch of Stormy Daniels on the witness stand in Donald Trump's hush-money trial. Defense lawyer Susan Necheles questions Stormy Daniels as Donald Trump and Judge Juan Merchan look on. Advertisement"As recently as, I believe, Wednesday night, he was on TikTok," Blanche, the defense lawyer, complained to Merchan before court broke for the week on Friday.
Persons: , Donald Trump, Trump, riled Trump, they're, Debbie Walsh, Walsh, Donald Trump's, Allison Greenfield, enemies.i Curtis, David Dee Delgado, Arthur Engoron, who'd, Greenfield, Jean Carroll Donald Trump, Jean Carroll, Andrew Kelly, Luiz C . Ribeiro, Lewis Kaplan, audibly —, Carroll, Roberta Kaplan, Cowbells, Todd Blanche, Emil Bove, Jabin, Michael Cohen, Stormy Daniel, Joe Biden's, Juan Merchan, Stormy Daniels, Jane Rosenberg, Daniels, swatting Trump, Merchan, audibly, — Daniels, Blanche, Susan Necheles, Mary Altaffer, Michael Cohen Cohen — Trump's, fining Trump, Cohen, he's, MAGA Organizations: Service, Business, Trump, Center for American Women, REUTERS, New York Daily News, Tribune, Getty, Reuters, GOP, AP Locations: Manhattan, York, New, New York City, Lake Tahoe, New York
Read previewThe US could be "sleepwalking" into a recession, and signs of a downturn in key areas of the economy are starting to show, according to top economist David Rosenberg. That's a strong sign the economy is weakening, as manufacturing has only contracted on two occasions since 1997 without the economy later slipping into recession, Rosenberg noted. The 2-10 Treasury yield curve, a notoriously accurate recession indicator, has signaled a coming downturn since July 2022. The labor market is cracking, a slowdown in services activity is dragging on real-time growth, and forward looking financial signals still point to a coming slowdown," Rosenberg said. Rosenberg has been warning of a coming recession for months — and fears of a downturn are rising as investors anticipate the Fed keeping interest rates higher-for-longer.
Persons: , David Rosenberg, Rosenberg, We're, That's Organizations: Service, Business, Treasury
A Former Guantánamo Prisoner’s New Life
  + stars: | 2024-05-09 | by ( Carol Rosenberg | Natalie Keyssar | ) www.nytimes.com   time to read: +1 min
On the 15th night of Ramadan in a suburb of Belize City, Majid Khan and his family of four sat down for a traditional iftar meal to break the daylight hours fast. There was a leg of a lamb that Majid, a former Guantánamo detainee, had slaughtered himself, sweets brought by a sister in Maryland, dates from Saudi Arabia. The talk was small, about whether the biryani dish was too spicy and how the lamb was perfectly roasted. For two decades, this family meal was not possible. He pleaded guilty and became a government cooperator — and, all that time, his wife waited for him in Pakistan.
Persons: Majid Khan, Majid, Hamza, Rabia, Manaal, Khan, Organizations: Central Locations: Belize City, Maryland, Saudi Arabia, Central American, Al Qaeda, Belize, Indonesia, United States, Guantánamo, Pakistan
Trump's lawyers argued that portions of Stormy Daniels' testimony warranted a mistrial. Daniels had testified Tuesday that Trump didn't use a condom during their sexual encounter in 2006. AdvertisementBlanche was complaining about multiple times in Daniels' testimony when she made graphic, highly salacious accusations against Trump that the lawyer said irreparably prejudiced the jury. Merchan said he wished the discussion of the condom didn't come into the trial and wasn't heard by the jury. Advertisement"For the life of me, I don't know why Ms. Necheles didn't object," he said, while the defense attorney looked toward the floor.
Persons: Stormy Daniels, Daniels, Trump's, Todd Blanche, , Donald Trump, she'd, Trump, Blanche, — Daniels, Keith Schiller, audibly, Susan Hoffinger, Donald Trump's, Jane Rosenberg, Merchan, Necheles, wasn't Organizations: Trump, Service, Wicked Pictures, REUTERS Locations: Manhattan, Tahoe, California
Trump trial: Stormy Daniels cross-examination ramps up
  + stars: | 2024-05-09 | by ( Kevin Breuninger | ) www.cnbc.com   time to read: +1 min
Court sketches of Stormy Daniels as she offers unflattering testimony about sex with Trump Artist: Jane RosenbergThis is developing news. Porn star Stormy Daniels will face cross-examination Thursday by lawyers for Donald Trump, after her first turn on the witness stand drew an angry reaction from the former president. Trump's attorneys, who began questioning Daniels on Tuesday afternoon, will likely continue their efforts to undermine her credibility and raise doubts about her account of having sex with Trump. The alleged one-night stand is a key component of the criminal hush money trial in Manhattan Supreme Court. Stormy Daniels arrives at Manhattan Criminal Court on May 09, 2024 in New York City.
Persons: Stormy Daniels, Jane Rosenberg, Donald Trump, Daniels, Judge Juan Merchan, Michael M, audibly, Merchan, Trump Organizations: Trump Artist, Trump, Criminal, Santiago, Getty Locations: Manhattan, New York City
Korea's convenience stores and vending machines are selling gold, with younger people flocking to buy. Bite-sized gold bars have been selling since April, weighing in between 0.1 and 1.87 grams. AdvertisementGold bars are displayed for sale alongside packaged kimchi and ramen in convenience stores across Korea, with the yellow metal gaining among younger consumers in 2024. AdvertisementYoung Koreans are leading the pack of buyers snapping up gold from CU stores, accounting for 41.3% of the total purchases, according to data from the company's app. However, the country's central bank hasn't joined the gold rush, keeping its gold reserves steady at 104.4 tons since 2013.
Persons: , hasn't, China —, David Rosenberg, Ed Yardeni Organizations: Service, Printing Corporation, Chosun, CNBC, World Gold Council Locations: Korea, South, South Korea, Asia's, China
The US economy may already be mired in recession, Danielle DiMartino Booth told Bloomberg TV. Downside labor revisions and rising job losses indicate a downturn has hit, the QI Research CEO said. AdvertisementThe US is already mired in recessionary downturn, and rising job losses prove it, veteran forecaster Danielle DiMartino Booth told Bloomberg TV. AdvertisementBy that standard, the rule was triggered in October of last year, according to recently published labor revisions through the third quarter of 2023, indicating job losses of 192,000. Other analysts have also projected rising recession risk, hand-in-hand with a labor market fallout.
Persons: Danielle DiMartino Booth, , there's, it's, Booth, Goldman Sachs, payrolls, David Rosenberg Organizations: Bloomberg TV, Downside, QI, Service, Bloomberg, Fox Business
Read previewDonald Trump told attendees at a private donor event in Florida on Saturday that he wasn't too bothered about his numerous legal troubles. Nevertheless, Trump told those in attendance that he was shocked when he first found out he had been indicted. I got indicted," Trump said, per the report. REUTERS/Jane RosenbergDuring the Mar-a-Lago event, Trump also took the opportunity to hit out at Democrats, saying they were "running a Gestapo administration," referencing the Nazi secret police force. Doug Burgum, Ohio Sen. JD Vance, Florida Sen. Marco Rubio, and Florida Rep. Byron Donalds.
Persons: , Donald Trump, It's, Trump, Stormy Daniels, Jane Rosenberg, Biden, South Carolina Sen, Tim Scott, Elise Stefanik, Doug Burgum, Doug Burgum , Ohio Sen, JD Vance, Florida Sen, Marco Rubio, Byron Donalds, Mike Johnson, cochair Lara Trump, Donald Trump's Organizations: Service, Mar, NBC News, Business, REUTERS, Manchurian, Republican National Committee's, Sunshine, CNN, Tim Scott , New York, North Dakota Gov, Florida Rep, House GOP Locations: Florida, New York, China, Russia, Ukraine, Sunshine State, South Carolina, Tim Scott ,, North, Doug Burgum , Ohio
Michael Cohen was found to have 39,745 contacts stored in his cellphone, said a data analyst. Cohen, Trump's former lawyer, is set to testify against the former president's New York trial. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementProsecutors at Donald Trump's hush money trial wrapped up Thursday's proceedings with testimony from a digital data analyst who works for the Manhattan District Attorney. Douglas Daus, testified he had extracted data from two iPhones belonging to Michael Cohen, Trump's former lawyer, and so-called "fixer"One device had 39,745 contacts, which Daus described as "unusual."
Persons: Michael Cohen, Karen McDougal, Cohen, Trump's, , Donald Trump's, Douglas Daus, Daus, I've, Hope Hicks, Trump, Allen Weisselberg, Lady Melania Trump, Jane Rosenberg, David, David Pecker, Todd Blanche, Donald, Von ShitzInPantz Organizations: Service, Manhattan, New, Attorney's, Associated Press, Trump Organization, Reuters, Trump, Playboy, American Media, fixer Locations: York, New York County
Over that time, the non-farm payrolls survey showed that the US economy gained 640,000 jobs. In addition to believing jobs data is distorted, Rosenberg has said in recent months that stock prices and valuations are disconnected from the macroeconomic picture. The chart below shows the AI boom — represented by the yellow line — with AI stocks climbing several hundred percent since 2022. Rosenberg ResearchDownturn or no downturnRosenberg has been notoriously bearish over the last couple of years, repeatedly warning of a recession. Pantheon MacroeconomicsAs Rosenberg points out, the longer the Fed keeps rates elevated, the higher the risk of a recession becomes.
Persons: David Rosenberg, Rosenberg, Merrill Lynch's Organizations: Labor Statistics, Business, Rosenberg Research, BLS, Dynamics, Federal Reserve, Nvidia, Bloomberg, Treasury
Text messages shown in Donald Trump's hush-money trial reveal attorneys' struggles to manage Stormy Daniels. Michael Cohen, Trump's ex-attorney, appeared frantic in messages after the hush-money story broke in 2018. Minutes later Cohen texted Davidson, "Please call me," before he again texted, "Cmon!" Advertisement"Why is she going on Kimmel after the Sotu," Cohen texted Davidson days earlier. "She just denied the letter," Cohen texted Davidson at the time.
Persons: Donald Trump's, Stormy Daniels, Michael Cohen, Trump's, Cohen, Daniels, , Keith Davidson, Davidson, Trump, Drew Angerer, Davidson texted Cohen, Cohen messaged Davidson, Stephanie Clifford —, Sean Hannity's, Davidson texted, Cohen texted Davidson, texted, Eduardo Munoz, Let's, Cohen backtracked, Michael Cohen's, Jane Rosenberg Davidson, Kimmel, Jimmy Kimmel, Cohen messaged, Gina Rodriguez, Gina Organizations: Prosecutors, Trump, Service, Street, Sean Hannity's Fox, Manhattan, REUTERS, Attorney's Locations: Los Angeles, LA, Manhattan, NY
Charlie Sheen, Hulk Hogan, Lindsay Lohan, and Tila Tequila were all name-dropped. Charlie Sheen, Hulk Hogan, Lindsay Lohan, Floyd Mayweather, Tila Tequila — all were name-dropped in morning testimony. Bove asked. Bove asked Davidson. Advertisement"I've represented several clients who had claims against Charlie Sheen," Davidson answered carefully.
Persons: Stormy Daniels, Keith Davidson, Charlie Sheen, Hulk Hogan, Lindsay Lohan, Tila Tequila, , Donald Trump's, Floyd Mayweather, Playboy Bunny Karen McDougal, Trump, Daniels, Davidson, Emil Bove, Donald Trump, Jane Rosenberg Bove, You've, Bove, you've, shakedowns, McDougal, lister, Hogan, Kevin Winter, Terry Bollea, Bollea, Hulk, Amy Sussman, Lindsay Lohan Davidson, Betty Ford, Lohan, Valerie Macon, Kevin Blatt, Tequila, Charlie Sheen's, Jamie McCarthy, Sheen, Blatt, I've, Anderson, Heidi Gutman, Capri Anderson, I'm Organizations: Service, National Enquirer, Manhattan, Enquirer, Trump, Reuters, Hulk Hogan's, TMZ, Morning America Locations: Manhattan, Sheen, Capri, Anderson
Prosecutors and defense lawyers are still negotiating toward a plea agreement for the men accused of plotting the Sept. 11, 2001, attacks despite the Biden administration’s refusal to endorse certain proposed conditions, the lead prosecutor said in court on Wednesday at Guantánamo Bay. “This is all whirling around us,” said Clayton G. Trivett Jr., the prosecutor, discussing key details of the negotiations in open court for the first time. He added that “around the edges we have agreed to do things” and that “the positions that we took at the time are still available.”In mostly secret negotiations in 2022 and 2003, prosecutors offered to drop the death penalty from the case in exchange for detailed admissions by the accused architect, Khalid Shaikh Mohammed, and four other men who are charged as his accomplices in the hijackings that killed nearly 3,000 people. Since then, one of the five men has been ruled not mentally competent to stand trial. The occasion of the briefing was a legal filing by lawyers for Ammar al-Baluchi, one of the defendants and Mr. Mohammed’s nephew, asking the judge to dismiss the case or at least the possibility of a death penalty because of real or apparent political interference by Senator Ted Cruz, Republican of Texas, and other members of Congress last summer.
Persons: Biden, , Clayton G, Trivett Jr, Khalid Shaikh Mohammed, Ammar al, Mohammed’s, Ted Cruz Organizations: Republican Locations: Guantánamo, Texas
It’s expected to become a Schedule III controlled substance, a classification shared by prescription drugs such as ketamine and Tylenol with codeine. Here’s what else you might have missed during your busy day:5 thingsKeith Davidson, who represented Stormy Daniels and Karen McDougal, is questioned. Jane Rosenberg1️⃣ Trump on trial: Donald Trump removed the online posts that a judge ruled violated his gag order in the New York criminal hush money case. The former president also was fined $9,000, and a former attorney who represented Stormy Daniels and Karen McDougal testified. 5 Things PM is produced by CNN’s Tricia Escobedo, Meghan Pryce and Kimberly Richardson.
Persons: ane R, Ed, bil, Lis, r., Gupta, Loo, Cheng S Organizations: acc, ld, CNN
Oil prices fell as reports on Monday indicated that Israel and Hamas could engage in cease-fire talks this week. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOil prices dropped Monday with energy markets eyeing fading geopolitical risks as Israel and Hamas reportedly move toward cease-fire talks. Cease-fire discussions could begin as soon as Tuesday if both parties agree to meet Cairo, the report said. Analysts say they see as much as a 20% surge for stocks in the sector as conflict and supply disruptions keep prices elevated.
Persons: Antony Blinken, , Brent, Israel, David Rosenberg Organizations: Service, Hamas, West Texas Intermediate, The New York Times, United, Reuters, Bank Locations: Israel, Cairo, United States, Saudi Arabia, Rafah, Russia, Ukraine, OPEC
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe are going into a credit picker's market, says Oaktree's David RosenbergDavid Rosenberg, Oaktree head of liquid performing credit, joins 'Money Movers' to discuss how Rosenberg sees the current cycle of rates, what it would take for the Federal Reserve to cut rates, and more.
Persons: Oaktree's David Rosenberg David Rosenberg, Oaktree, Rosenberg Organizations: Federal Reserve
Read previewThe Federal Reserve's fixation on a streak of "flawed" data to justify keeping interest rates higher for longer is bound to spark a policy mistake, according to top economist David Rosenberg. "The Fed seems to be focusing not just on flawed data, but on headlines only. Finally, he noted that the Fed's long-term view of the economy as still hot based on non-farm payroll data was dashed by the Quarterly Census of Employment and Wages and Business Employment Dynamics. Rosenberg pointed out that the payroll report may be exaggerating actual employment by 70,000 per month. Meanwhile, BED data indicated a 192,000 drop in private employment in Q3 of last year, whereas private job payroll data reported a significant 521,000 increase in that time.
Persons: , David Rosenberg, Rosenberg, it's Organizations: Service, Business, Fed, Quarterly, Employment Dynamics
The recent gold rally is counterintuitive, as high interest rates typically make bullion less attractive. But billionaire investor David Einhorn has a theory that he shared in his latest investor letter. Einhorn suggests that gold's rally is potentially due to countries in the East buying gold from Western nations. To explain the strong run for gold, billionaire investor David Einhorn offered a potential theory in his latest letter to investors published this week. Others, like billionaire investor Ray Dalio, say gold can hedge risks stemming from high government debt levels.
Persons: David Einhorn, Einhorn, , there's, David Rosenberg, Ed Yardeni, Ray Dalio Organizations: Service, Federal, Greenlight, World Gold, People's Bank of Locations: China, People's Bank of China, India, Singapore
Regardless of the outcome of their someday trial, the men accused of plotting the attacks of Sept. 11, 2001, can be held forever as prisoners in the war against terrorism in a form of preventive detention, a military prosecutor told the presiding judge on Wednesday. He has been held since 2003. The argument, in a pretrial hearing in the decade-old Sept. 11 case, was the latest installment over a long-running, unresolved question of whether a prisoner, once he completes a war crimes sentence, is entitled to release from military detention. Col. Joshua S. Bearden, an Army prosecutor, said the answer was no. He urged the judge to reject the request as both premature, because the government is seeking the death penalty in the case, and beyond the scope of his authority.
Persons: Mustafa al, Joshua S, Bearden Organizations: Defense Locations: United States
Gold prices are set to continue their record bull run to $3,000 per ounce, according to David Rosenberg. Rosenberg highlighted a buying spree from China's central bank as one reason why prices will rise. AdvertisementFamed economist David Rosenberg is feeling good about where gold prices are headed. But its share of gold reserves is tiny compared to other central banks, with the global average being 13%. That means there could be plenty of runway left for China to keep adding to its gold reserves.
Persons: David Rosenberg, Rosenberg, , it's Organizations: Federal, Service, Fed Locations: China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSupply and demand curves are shifting in a disinflationary pattern, says Rosenberg Research founderDavid Rosenberg, Rosenberg Research founder and president, joins 'Money Movers' to discuss the bond trade, why the Federal Reserve is pivoting, and more.
Persons: Rosenberg, David Rosenberg Organizations: Supply, Rosenberg Research, Federal Reserve
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