Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon. Today is Monday, March 31st, and I'm your host, Kim Kahn. Our top story so far,

Goldman Sachs has cut its S&P 500 target for the second time this month, as its economists raised their projections

of a U.S. recession to 35%. Equity strategist David Koston says higher tariffs, weaker economic

growth, and greater inflation than we previously assumed, prompted Goldman to cut its year-end

view to 5,900 from 6200 for the benchmark. If the growth outlook and investor

confidence deteriorate even further, valuations could decline much more than we forecast, Kusin

said. Economists at Goldman Sachs now see the average U.S. tariff rate rising to 15% this year

from a previous 10% view. Chief economist Jan Hatsyas says,

almost the entire revision reflects a more aggressive assumption for reciprocal tariffs.

Goldman bumped up as 12-month recession probability to 35% from 20% and sliced down as 20-25 GDP

projection to 1% from 1.5% on a Q4 basis. The upgrade from our previous 20%

recession estimate reflects our lower growth baseline, the sharp recent deterioration in household

and business confidence, and statements from the White House officials indicating greater

willingness to tolerate near-term economic weakness in pursuit of their policies,

Hatsias said. Among active stocks, conservative-focused news network Newsmax opened for trading on its

first day as a public stock at $14, above its $10 initial public offering price, and rose from there

to a 66% gain before a volatility halt just before 11 a.m.

Eastern Time. That halt was quickly followed by another and another. Shares remain volatile, but have

reached a high of more than $75 intraday. Sticking with recent issues, shares of CoreWeave are under

pressure following its second full day of trading following its IPO last week.

The cloud computing company's startups now's day debut was far from a dream run,

...