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Renowned investor Steve Cohen shared his insights on the stock market’s potential future movements during the Sohn Investment Conference in New York. Cohen mentioned the possibility of stocks retesting their lows from April, following the recent market rally. He stated, “I don’t expect a significant decline. I think it’s possible we can go back toward the lows, which is 10% to 15% from here, so it’s not a calamity.”

Cohen’s remarks came after the U.S. and China agreed to suspend reciprocal tariffs for a 90-day negotiating period, leading to a sharp increase in stock prices. The S&P 500 has surged 4% this week, fully recovering from the April sell-off and turning positive for the year. The market began its rebound last month as President Trump postponed the most severe tariffs on several countries.

The billionaire investor, who also owns the New York Mets, expressed his view that the market currently feels “toppy.” Despite the reduction in tariffs on China, Cohen believes there is still a moderate risk of the U.S. slipping into a recession. He stated, “We’re not in a recession yet… We think there’s probably a 45% chance of recession. So that’s not insignificant, even if it’s not the official definition of a recession, it’s definitely slow growth.”

Cohen pointed out the potential impact of various factors, including tariffs and trade negotiations with China, on the U.S. economy. He emphasized the importance of considering these factors when assessing the country’s economic outlook.

In conclusion, Steve Cohen’s insights offer valuable perspectives on the current state of the stock market and the potential risks ahead. As investors navigate through uncertain times, it is crucial to stay informed and consider various factors that could influence market movements.
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