may or may not match up with what you are feeling every day. we re about to get the biggest hard data dump of the summer. a multifaceted look at what the cold hard facts tell us about where the u.s. economy stands. you have these big hitters all announcing their earnings this week. it s going to be a big reflection of where we are, what we re buying out there. what we re not buying and participating in in this market. look at the reports coming out this week. it s a huge week for this summer. you have gdp, the cost of goods. perhaps the most important, consumer sentiment that we ll get at the end of this week. as you know, two quarters of gdp contraction. we ll get that second quarter gdp number. signalling a recession in the u.s. economy. the white house is changing its tune on the long-accepted benchmark. janet yellen is starting to hedge on what the definition of a recession is. with that, we bring in neil cavuto from your world. always good to have you with us. neil:
Securities and Exchange Commission SEC adopted new rules implementing conditions for insiders affirmative defense for Rule 10b5-1 trading plans 10b5-1 plans under Rule 10b-5 of Securities Exchange Act of 1934 requiring issuers to provide periodic report and proxy statement disclosures.
A group of lawyers argues that prosecutors’ first NFT insider-trading case opens the door to an overly broad use of the wire-fraud statute to penalize unauthorized use of workplace information
trading laws. it has to be material, nonpublic information that is stolen. people talk about this legislation for months and months. six months. the problem that he s got is two fold. number 1 is the timing was impeccable. right when it looked like it was bipartisan agreement, he started exercises his options to buy the stob. based on the disclosures, he bought anywhere between $1 and $5 million and netted him a pro fight of $500,000. that s the other problem. the other problem is optically. these are people that are limousine liberals. i m not being political when i say that. nancy pelosi is a california democrat. she s been bashing businesses for years. looks really hypocritical in addition to sleazy. so you put that together and this is going to raise eyebrows. martha: you know, that s the