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Federal court records did not make clear whether Nauta had since retained a Florida lawyer and he could not be reached for comment. The front-runner for the 2024 Republican presidential nomination, Trump has pleaded not guilty both to the federal charges, which also include conspiracy to obstruct justice, and the New York charges. Prosecutors said Nauta moved boxes that contained classified documents so a lawyer for Trump could not find them and hand them over to federal investigators. Nauta and Trump are allowed to be in contact, but cannot discuss the facts of the case except through their attorneys. Legal experts have said the complexities surrounding the use of highly classified documents as evidence are likely to delay Trump's trial.

Persons: Walt Nauta, President Trump, Wilkie D, Ferguson Jr, Jane Rosenberg, Donald Trump's, Trump, Nauta, Edwin Torres, Prosecutors, Aileen Cannon, Jack Smith, Cannon, Jacqueline Thomsen, Scott Malone, Howard Goller Organizations: United, Courthouse, REUTERS, MIAMI, White, Trump, U.S, Prosecutors, Thomson Locations: Miami , Florida, U.S, Miami, Florida, White, New York, York, Lago

☆ Conditions at Guantánamo Are Cruel and Inhuman, U.N. Investigation Finds
▼ + stars: | 2023-06-26 | by ( Carol Rosenberg | ) www.nytimes.com time to read: +1 min

The last 30 detainees at Guantánamo Bay, including the men accused of plotting the Sept. 11 attacks, are being held by the United States under circumstances that constitute “cruel, inhuman and degrading treatment under international law,” a United Nations Human Rights investigator said on Monday. She issued the report one month before her term as rapporteur ends. She said the conditions at the prison “may also meet the legal threshold for torture.”Ms. Aolain was the first United Nations investigator to be granted access to the detention center in its two-decade history. She said in an interview that she met with a cross section of the 34 prisoners who were there in February, including former C.I.A. detainees who are facing criminal charges and others who have been approved for transfer to other nations.

Persons: ”, Fionnuala Ni, Ms, Aolain Organizations: United Nations Human, United Nations Locations: Guantánamo, United States, Minnesota

☆ A notorious market bear who called the 2000 and 2008 crashes says stocks are set to suffer 'profound' losses as valuations remain at historic extremes — and dismisses the current rally as a 'narrow an
▼ + stars: | 2023-06-24 | by ( William Edwards | ) www.businessinsider.com time to read: +8 min

It also doesn't offer a fair characterization of the entire S&P 500's performance. Hussman's preferred valuation measure is total market cap of non-financial stocks to total revenue of non-financial stocks. According to Bank of America, 80% of the S&P 500's returns over a 10-year period can be attributed to valuations. The red line in the chart below shows the gauge, while the blue is the S&P 500's price action. Predicted in April 2007 that the S&P 500 could lose 40%, then it lost 55% in the subsequent collapse from 2007 to 2009.

Persons: John Hussman, Hussman, hasn't, Morgan Stanley, Mike Wilson, David Rosenberg, Solita, 18.5x, it's, Jeremy Grantham, Jeremy Siegel, Siegel, Michael Kantrowitz, Piper Sandler, Piper Sandler Kantrowitz Organizations: Hussman Investment Trust, Bank of America, Rosenberg Research, UBS, University of Pennsylvania, Housing

☆ Central banks around the world just made borrowing costs more expensive
▼ + stars: | 2023-06-23 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

The central banks of the UK, Turkey, Norway, and Switzerland all raised interest rates yesterday. The Bank of England is the UK's central bank. Let's start with the Bank of England's decision to raise interest rates by 50 basis points and bring borrowing costs to 5%. Turkey's central bank, meanwhile, raised interest rates by 650 basis points to 15%, which was somehow less than markets expected. Just to cover our bases: Norway's central bank raised its core lending rate by half a percentage point, and Switzerland's policymakers hiked its benchmark rate by a quarter point.

Persons: Phil Rosen, Powell, Myron Jobson, Recep Tayyip Erdogan, Spencer Platt, Jerome Powell's, Goldman Sachs, David Rosenberg, it's, Warren Buffett, Jason Ma, Nathan Rennolds Organizations: Bank of England, Bank of, Interactive, New York Stock Exchange, U.S . House, Dow, Getty, Apogee Enterprises, Homeowners, Apple, Microsoft, Nvidia, S3 Partners, BMO Capital Markets, Berkshire Hathaway, Gates Foundation Locations: Manhattan, Turkey, Norway, Switzerland, Maremagnum, Turkey's, New York City, U.S, New York, Los Angeles, London

☆ Stocks will plunge back into a bear market when recession hits - even if it's a mild one, top economist David Rosenberg says
▼ + stars: | 2023-06-23 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

A recession will surely hit the US economy and stocks will plunge back into a bear market then, David Rosenberg said. "The compounding effect of even a mild recession on earnings and what it does to the multiple will still lead you into a fundamental bear market," he told BNN Bloomberg. Rosenberg warned that cracks were beginning to appear in the US labor market. "You're going to hear a lot of this hand-holding, 'don't worry, it's going to be a mild recession, it's going to be a shallow recession.' Ultimately you're paying for earnings, not GDP anyways, and the compounding effect of even a mild recession on earnings and what it does to the multiple will still lead you into a fundamental bear market," Rosenberg told the outlet.

Persons: David Rosenberg, BNN, Rosenberg, — Organizations: BNN Bloomberg, Service, Rosenberg Research, Federal Reserve

☆ Is the AI-led 'baby bubble' bursting? BofA says tech stocks just saw their biggest outflow in 10 weeks.
▼ + stars: | 2023-06-23 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Investors just sold off $2 billion in tech shares, the largest outflow in 10 weeks. Previously, the bank called AI a "baby bubble," comparing it to the 2000s dot-com craze. Previously, Hartnett compared the excitement for AI to the dot-com bubble, when internet stocks boomed before the Nasdaq Composite plunged 78% in the early 2000s. In a prior note, he called Wall Street's excitement for AI a "baby bubble," and suggested that AI stocks could soon "mature" as internet stocks did in 1999. Along with Hartnett, UBS's Art Cashin and veteran economist David Rosenberg have also drawn parallels with the current boom in AI stocks to the dot-com bubble.

Persons: —, Michael Hartnett, Tesla, Hartnett, Cashin, David Rosenberg Organizations: Bank of America, Investors, Service, Tech, Microsoft, Nvidia, Apple, Nasdaq, Labor

☆ Watch CNBC's full interview with economist David Rosenberg
▼ + stars: | 2023-06-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with economist David RosenbergDavid Rosenberg, Rosenberg Research founder and president, joins 'Squawk on the Street' to discuss Rosenberg's thoughts on a potential market bubble, why being rational can impede your equity performance, and how Rosenberg is considering sentiment.

Persons: David Rosenberg David Rosenberg, Rosenberg Organizations: Rosenberg Research

☆ There are parts of the market that are in a bubble, says Rosenberg Research founder
▼ + stars: | 2023-06-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere are parts of the market that are in a bubble, says Rosenberg Research founderDavid Rosenberg, Rosenberg Research founder and president, joins 'Squawk on the Street' to discuss Rosenberg's thoughts on a potential market bubble, why being rational can impede your equity performance, and how Rosenberg is considering sentiment.

Persons: Rosenberg, David Rosenberg Organizations: Rosenberg Research

☆ Trump offers $5.6 million security payment as he appeals E. Jean Carroll sexual abuse verdict
▼ + stars: | 2023-06-23 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

Former president Donald J. Trump outside Trump Tower in Manhattan, New York, prior to his departure to a two-day trip to Des Moines, Iowa, May 31, 2023. Kyle Mazza | Anadolu Agency | Getty ImagesDonald Trump is willing to put up $5.6 million as security while the former president appeals a civil verdict that he sexually abused writer E. Jean Carroll in the 1990s and defamed her decades later, a court filing Friday revealed. After a trial in May, a jury found that Trump, 77, was liable for sexually abusing Carroll — but not for raping her. Trump has asked the U.S. Court of Appeals for the 2nd Circuit to overturn the verdict. Separately, he has asked District Court Judge Lewis Kaplan to order a retrial solely on the questions of monetary damages.

Persons: Donald J, Kyle Mazza, Donald Trump, E, Jean Carroll, Trump, Carroll, Elle, Joe Tacopina, Jane Rosenberg, Reuters Carroll, Bergdorf Goodman, Carroll —, Lewis Kaplan Organizations: Trump, Anadolu Agency, Getty, Reuters, U.S ., Appeals Locations: Manhattan , New York, Des Moines , Iowa, U.S, Manhattan, New York

☆ Biden aides tap Google chair for chips research effort, officials say
▼ + stars: | 2023-06-20 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +2 min

WASHINGTON, June 20 (Reuters) - The Biden administration picked the chairman of Google parent Alphabet (GOOGL.O), John Hennessy, and four other technology industry experts to help with research-and-development of next generation computer chips, U.S. officials told Reuters. Hennessy and the selected individuals are set to be announced by the Commerce Department on Tuesday, according to the officials, who declined to be identified. They will be responsible for picking a board of trustees to run the National Semiconductor Technology Center. That public-private partnership was authorized to lead research on next-generation chips as part of last year's bipartisan $52.7 billion semiconductor manufacturing and research law, which also subsidizes new chip plants. The nonprofit board is expected make politically sensitive decisions, including where in the United States to locate the center's research facilities.

Persons: Biden, John Hennessy, Hennessy, Joe Biden, Janet Foutty, Jason Matheny, Don Rosenberg, Brenda Wilkerson, Trevor Hunnicutt, Cynthia Osterman Organizations: Google, Reuters, Commerce Department, National Semiconductor Technology, Stanford University, Deloitte, RAND Corp, Anzu Partners, Qualcomm, Thomson Locations: United States, China, Taiwan

☆ Biden administration taps Google chair for chips research effort
▼ + stars: | 2023-06-20 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +2 min

WASHINGTON, June 20 (Reuters) - The Biden administration says it has picked the chairman of Google parent Alphabet Inc (GOOGL.O), John Hennessy, and four other technology industry experts to help with research and development of next-generation computer chips. They will be responsible for picking a board of trustees to run the National Semiconductor Technology Center. That public-private partnership was authorized to lead research on next-generation chips as part of last year's bipartisan $52.7 billion semiconductor manufacturing and research law, which also subsidizes new chip plants. The nonprofit board is expected make politically sensitive decisions, including where in the United States to locate the center's research facilities. "This selection committee is the next step to helping us stand up the NSTC and ensure it succeeds for generations."

Persons: Biden, John Hennessy, Hennessy, Joe Biden, Gina Raimondo, Janet Foutty, Jason Matheny, Don Rosenberg, Brenda Wilkerson, Trevor Hunnicutt, Cynthia Osterman Organizations: Google, Inc, Commerce Department, Reuters, National Semiconductor Technology, Stanford University, Deloitte, RAND Corp, Anzu Partners, Qualcomm, Thomson Locations: United States, China, Taiwan

☆ Late to book your Hamptons summer rental? You're in luck — there's still hundreds.
▼ + stars: | 2023-06-18 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +5 min

The Hamptons are facing a summer rental glut, with over 1,000 available in August as of Wednesday. Real-estate agents said an uptick in travel and lower Wall Street bonuses are behind the glut. A glut of available properties and sky-high rental prices are adding up to a slow summer rental season, worrying real-estate agents counting on tenant demand. The hot Hamptons summer rental market, it seems, has caught a chill. "I have a summer rental that's listed for $150,000 for a month and it got an offer of $80,000.

Persons: —, Dana Trotter, Trotter, Enzo Morabito, Douglas Elliman, aren't, KENA BETANCUR, Anthony Rosina, they've, Judi Desiderio, Rosina, We're Organizations: Service, Hamptons, CNN, The Agency Hamptons, Agency, Sotheby's, Town, Country, CNBC Locations: New York, New York City, Southampton, East Hampton

☆ Is the AI stock boom a dot-com-style bubble? David Rosenberg, Jeremy Siegel, and 5 other experts weigh in.
▼ + stars: | 2023-06-18 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +5 min

Experts including David Rosenberg and analysts from Wall Street banks including Bank of America have compared the AI stock boom to the dot-com bubble that burst in 2000. Here's a selection of the most recent expert views on this year's AI stock boom. But not everyone thinks the AI stock boom has run too far. Michael Hartnett, Bank of AmericaMichael Hartnett, BofA Global Research's CIO, said AI is in a "baby bubble" for now and noted that "AI = internet." Jeremy Siegel, Wharton finance professorThe retired Wharton finance professor doesn't see the AI hype as a bubble, either.

Persons: David Rosenberg, Wharton's Jeremy Siegel, Dan Ives, —, Wharton, Jeremy Siegel, Dan Raju, Michael Hartnett, Bank of America Michael Hartnett, BofA, James Penny, TAM Asset Management James Penny, I'd, Art Cashin, Cashin, Rosenberg, doesn't Organizations: Bank of America, Wedbush Securities, Service, Wall, UBS, TAM Asset Management, Nvidia, Microsoft, BofA Global, firm's, Bloomberg, Art, CNBC Locations: Wall

☆ Morgan Stanley's chief US economist now says home prices are likely to drop only 2% in 2023. Here's why she thinks the housing downturn is virtually over.
▼ + stars: | 2023-06-17 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Morgan Stanley's Ellen Zentner says housing activity has bottomed. After a huge drop off in activity, demand is starting to stabilize. Yardeni ResearchThe pickup in activity has likely been due to housing affordability stabilizing. Zentner's view that the housing market is stabilizing is a big contributing factor to her call for a soft-landing scenario, where the US economy avoids a recession. But nevertheless, housing activity has bottomed, and that's probably the most important pillar to a soft-landing."

Persons: Morgan, Ellen Zentner, Morgan Stanley's Ellen Zentner, Zentner, that's, Goldman Sachs, Jonathan Woloshin, Suisse's Ray Farris, Ian Shepherdson, undershoots, David Rosenberg Organizations: National Association of, National Association of Homebuilders, UBS Wealth Management, Rosenberg Locations: Zentner

☆ The S&P 500 has entered a bull market, but will it last? Here's what 5 Wall Street experts are saying about the stock market's big rally.
▼ + stars: | 2023-06-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

The S&P 500 has pushed its way into a new bull market, but experts are torn over whether the rally can last. Though he previously predicted a 15% increase for the S&P 500, he's turned more bearish on the market as recession odds increase. Goldman SachsThe hype for AI is real and could lead the S&P 500 to climb higher this year, Goldman Sachs said. That could take the S&P 500 as much as 14% higher in the coming years, strategists said. The S&P 500 could end the year at 4,500, strategists predicted, implying around a 5% upside from current levels and a gain of about 17% for the full year.

Persons: —, David Rosenberg, Rosenberg, That's, Steve Marcus, Jeremy Siegel, Siegel, he's, Bloomberg Mike Wilson, Morgan Stanley, Morgan, Mike Wilson, Wilson, Cindy Ord, Tom Lee, Fundstrat, Goldman Sachs Organizations: Service, New York Fed, Rosenberg Research, Wharton School, Bloomberg, Corporations, Getty, CNBC

☆ The Fed just held interest rates and signaled future hikes at the same time – a move that baffled many. Here's how Larry Summers, Mohamed El-Erian, and others have reacted.
▼ + stars: | 2023-06-17 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +6 min

The Fed pressed pause on its interest-rate increases this month after boosting borrowing costs 10 times since early 2022. The move spurred a wave of commentary given the central bank at once held rates and signaled more hikes. "It seems like the unanimity of opinion that we need more rate hikes has been clear, but the path of rate hikes is all over the place," he added. "It was what I would call, an awkward but hawkish pause," he added. Peter Schiff, chief global strategist at Euro Pacific Capital"Don't believe the hype on the Fed's hawkish pause on rates.

Persons: Larry Summers, Mohamed El, David Rosenberg, Jeff Gundlach, —, Jerome Powell, Summers, Erian, Tom, Dick, Harry, " Rosenberg, Gundlach, Steve Forbes, Forbes, Don't, Richard Clarida, they've, they're, Clarida, Whitney Watson, Watson, Peter Schiff, Schiff Organizations: Fed, Service, Federal Reserve, Bloomberg, Erian, Allianz, CNBC, Federal, Global, Goldman Sachs, Euro

☆ Mohamed El-Erian says Fed communication is seen as 'confused and confusing' after it held rates and signaled hikes at the same time
▼ + stars: | 2023-06-16 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Mohamed El-Erian said the Federal Reserve's latest policy communication was seen as "confused and confusing." The Fed left interest rates unchanged at its Wednesday meeting, but signaled future increases. In a tweet on Thursday, the top economist said the central bank's policy communication this week was seen as "confused and confusing," and shared tweets echoing a similar sentiment from journalists and experts including economist David Rosenberg. "A sample from quite a set of reactions to what is seen as confused and confusing Fed communication," El-Erian said in the tweet, accompanied by three critical observations the Fed from market commentators including Rosenberg. The Fed has been on an aggressive path to cool inflation over the past year, hiking interest rates by 500 basis points to a range between 5%-5.25%.

Persons: Mohamed El, Erian, —, David Rosenberg, Jerome Powell, Rosenberg, Powell, Summers Organizations: Federal, Service, Rosenberg Research, Bloomberg

☆ Walt Disney's Los Angeles home, where he created 'Cinderella' and 'Pinocchio,' is on the market as a $40,000-per-month rental. See inside.
▼ + stars: | 2023-06-14 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: 1 min

There are five homes that have rented for between $20,000 and $64,000 per month in the area over the last six months, Campen said, and there are currently 20 homes in the area on the rental market seeking $20,000 or more. A bathroom. Joel Danto of TheLuxLevel

Persons: Campen, Joel Danto, TheLuxLevel

☆ Why finding a camp for your kid is this summer's madness
▼ + stars: | 2023-06-13 | by ( Chris Taylor | ) www.reuters.com time to read: +5 min

NEW YORK, June 13 (Reuters) - For American kids, summer camps can conjure up some idyllic experiences: Canoeing on lakes, munching on s’mores by campfires. THE EARLY BIRD GETS THE WORMMany day camps open registration in January, February and March, and overnight camps often start the previous fall. Indeed, in 2022 the average day camp cost rose to $87 per day, and the average overnight camp to $172 a day, according to an ACA survey of participating camps. “Investigate if your employer provides any summer camp assistance as part of their benefits package. Says Rosenberg: “Summer camp is hot again.”Editing by Lauren Young Follow us @ReutersMoneyOur Standards: The Thomson Reuters Trust Principles.

Persons: ”, Ellen Sheng, it’s, ” Sheng, “, Tom Rosenberg, Rosenberg, ” Rosenberg, Anna Sergunina, ” Sergunina, Hunt, Says Rosenberg, Lauren Young Organizations: YORK, campfires, American Camp Association, YMCA, “, Thomson, Reuters Locations: Summit , New Jersey, Greater New York, Los Gatos , California

☆ We bought a 9,000-square-foot mansion in Kansas that dates to 1885 and have found antique jewelry, silver coins, and Civil War memorabilia. We still have so much more to explore.
▼ + stars: | 2023-06-13 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +7 min

Thad and Robin Krasnesky bought a 140-year-old Victorian mansion in Kansas in 2021. They document their explorations on their Facebook page, Krasnesky Manor For Wayward Cats. He and his wife Robin, 49, document their adventures at the house on their Facebook page, Krasnesky Manor For Wayward Cats. A peek inside the Krasneskys' home, which they chronicle on their Facebook page, Krasnesky Manor For Wayward Cats. We've got 14,000 people on our Facebook page now.

Persons: Thad, Robin Krasnesky, —, Thad Krasnesky, Robin, we'd, A.J, Angell, there's, There's, Robin's, Rachel, we've, We've Organizations: Wayward, Service, Broadway, Union, Facebook Locations: Kansas, Texas, Leavenworth , Kansas, It's, England

WASHINGTON, June 13 (Reuters) - The United States will extend deportation relief and work permits through 2025 for more than 300,000 immigrants from El Salvador, Honduras, Nicaragua and Nepal but will not expand the program to cover additional people, the U.S. Department of Homeland Security (DHS) said on Tuesday. Biden's Democratic administration is rescinding Trump's earlier decisions as part of the process of extending the relief for immigrants from El Salvador, Honduras, Nicaragua and Nepal. The latest decision by the Biden administration will allow TPS renewals for 239,000 Salvadorans who have resided in the U.S. since 2001. Hundreds of thousands of immigrants from El Salvador, Honduras and Nicaragua living in the U.S. illegally will not be covered by the TPS extension since they arrived after the cutoff dates. Reporting by Ted Hesson in Washington; Editing by Mica Rosenberg, Aurora Ellis, Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden's, Donald Trump, rescinding, Alejandro Mayorkas, Biden, Eric Adams, Ted Hesson, Mica Rosenberg, Aurora Ellis, Alexandra Hudson Organizations: U.S . Department of Homeland Security, TPS, Democratic, New York City, Alexandra Hudson Our, Thomson Locations: United States, El Salvador, Honduras, Nicaragua, Nepal, U.S, Mexico, Washington

Miami CNN —Former President Donald Trump pleaded not guilty to 37 charges Tuesday in a brief but historic court appearance following his arrest and processing on federal charges. Trump is the first former president to face federal charges following last week’s indictment by special counsel Jack Smith. It underscored the fact that Trump’s legal turmoil is playing out amid a 2024 Republican primary where Trump’s legal troubles have been a central storyline, both for his campaign and his presidential rivals. We love the people, and you see where they are,” Trump said when asked how his court appearance went. Goodman concluded Tuesday’s hearing acknowledging his limited role in the Trump case.

Persons: Donald Trump, Trump, Jack Smith, –, Smith, Grisham, Jonathan Goodman, Goodman, Walt Nauta, Nauta, Francis Suarez, ” Suarez, “, ”, ” Trump, Stanley Woodward, Nauta’s, President Trump, Wilkie D, Ferguson Jr, Jane Rosenberg, Judge Cannon, Judge Goodman, Aileen Cannon, Cannon Organizations: Miami CNN, Republican, Trump, CNN, Southern District of, Trump’s Save, United, Courthouse, Reuters, Circuit, West Palm Beach Locations: Manhattan, New York, Fulton County, Georgia, Southern District, Southern District of Florida, Miami, Versailles, Washington, DC, Trump, Bedminster , New Jersey, Miami , Florida, U.S, Ft . Pierce , Florida, West Palm

☆ ‘Based on a True Story’ Review: Only Murders on the TV
▼ + stars: | 2023-06-12 | by ( James Poniewozik | ) www.nytimes.com time to read: +1 min

“The great American art form isn’t music or film or television,” says a podcast host in “Based on a True Story,” a new dark comedy on Peacock. “The great American art form is murder. Forget the surfeit of murder podcasts that “Based on a True Story” satirizes, however fitfully. “Based on True Story” is not even the first TV comedy about a fictional murder podcast. (Steve Martin and Martin Short would like a word.)

Persons: ”, “, Steve Martin, Martin, Craig Rosenberg, Kaley, Nathan, Chris Messina, sleuths, Matt, Tom Bateman, Peacock, it’s Locations: Los Angeles

☆ 'This is typical late cycle behavior': New York Life Investments warns a recession is still barreling toward the US economy despite strong jobs data — threatening to sink stocks by 15-20%
▼ + stars: | 2023-06-10 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Historically, a median pullback in earnings would mean a 15-20% drop in the S&P 500. The Bureau of Labor Statistics announced on June 2 that the US labor market added 339,000 jobs in May — more than economists had expected. Historically, the Fed tightening cycle takes 18 – 24 months to impact the labor market." Madison Hoff/InsiderHistory shows a recession would mean a rough ride ahead for the stock market, Goodwin said. The median S&P 500 price target among major Wall Street strategists is 4,000, which is 7% lower than current levels.

Persons: Lauren Goodwin, Goodwin, Madison Hoff, Michael Kantrowitz, Piper Sandler, Piper Sandler Piper Sandler, it's, Kantrowitz, Morgan Stanley's Mike Wilson, David Rosenberg, —, Louis Organizations: York Life Investments, Labor Statistics, New York Life Investments, Rosenberg Research, Federal Reserve Bank of St

☆ It's Wall Street vs Wall Street as the recession debate rages on. Here's what David Rosenberg, Jeff Gundlach and 5 other experts have warned.
▼ + stars: | 2023-06-10 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +6 min

Wall Street experts are butting heads over the health of the economy, and what's to come. David Rosenberg, Rosenberg Research president"Markets pricing in a 'soft landing'? Will they ever be in for a big surprise," the Rosenberg Research chief tweeted. "You look at the United States and it seems to me that we're still making this transition from expansion to recession," Rosenberg said. "We're referring to this phenomenon as a Cardboard Box Recession, because items that are made (manufacturing) and shipped (trade) tend to go in a box.

Persons: David Rosenberg, Jeff Gundlach, Clif Asness, —, Rosenberg, Will, hasn't, we're, Gundlach, Jeffrey Kleintop, Charles Schwab, Kleintop, Goldman Sachs, That's, Jan Hatzius, Hatzius, Jim Reid, David Folkerts, Landau, Reid, Folkerts, Nicholas Colas Organizations: Service, Federal Reserve, Rosenberg Research, DoubleLine Capital, CNBC, Fibre, Association, Deutsche Bank, Deutsche Locations: United States

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