S&P 500 bull market won't last, 99% chance of US recession: Rosenberg

The stock market's powerful rally is unfounded, and the US economy is virtually guaranteed to sink into recession, David Rosenberg has warned.

"This market continues to be nothing more than a short-term momentum play," the veteran economist and Rosenberg Research president said in a morning note. "You can believe the press headlines or you can believe the leading indicators — which suggest that we do indeed have a 99.15% chance of an official NBER-defined recession," he said."And if that is the case, then it is the first time in recorded history that a fundamental bear market ended before the downturn even arrived."

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian Stock Market: S&P500 Futures, yields join central bank, growth chatters to tease bearsAsian Stock Market: S&P500 Futures, yields join central bank, growth chatters to tease bears – by anilpanchal7 Asia SP500 YieldCurve RiskAversion Equities
Source: FXStreetNews - 🏆 14. / 72 Read more »

Stock Market News: GameStop shares slump, S&P 500 near bull market, SCOTUS on student loansS&P 500 nears bull market, jobless claims jump, GameStop fires CEO and Ryan Cohen takes over, Carvana recovers and SCOTUS on student loans. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
Source: FoxBusiness - 🏆 458. / 53 Read more »

Stock futures dip after S&P 500 moves into bull marketU.S. stock futures eased back from near 10-month highs ahead of next week's inflation data and Fed decision .
Source: MarketWatch - 🏆 3. / 97 Read more »