'I still think we are in a bear market,' says billionaire investor Carl Icahn of post-CPI market rally

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Inflation will remain sticky and investors should take care with getting too excited about Thursday's data, warned Wall Street icon Carl Icahn on Thursday.

That was Wall Street icon Carl Icahn, speaking to CNBC after Thursday’s softer-than-expected inflation report that sparked the best day for stocks since early 2020. The Dow industrials DJIA closed up 1,200 points, while the yield on the 10-year Treasury note BX:TMUBMUSD10Y tumbled 33 basis points to 3.828%.

... “A rally like this is of course very dramatic to say the least… but I still think we are in a bear market.” That was Wall Street icon Carl Icahn, speaking to CNBC after Thursday’s softer-than-expected inflation report that sparked the best day for stocks since early 2020. The Dow industrials DJIA closed up 1,200 points, while the yield on the 10-year Treasury note TMUBMUSD10Y tumbled 33 basis points to 3.828%.

Read: Curb your enthusiasm — Thursday’s explosive rally in stocks likely means the bear market is alive and well Futures are now pointing to the Fed’s terminal rate peaking at 4.9% next June, with chances of a 50 basis point hike by the Fed at its December meeting up to 85%. Earlier this week those expectations wavered between a 50bp and 75bp hike.

 

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He invests in a way where the Public best not follow him.

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This guy needs another 4% before he dies and takes all his money with him. What a loser.

My experience thaught me that Mr Icahn always hace the reason.

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Jim Cramer warns that growth stocks could see ‘more horror’ after CPI data releaseCPI data for October is set for release on Thursday. the biden economy is collapsing that means tomorrow stocks will go up Beting against this guy is always profitable!
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