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Fortune
Fortune
Sophie Mellor

Carl Icahn says ignore Thursday's rally, we aren't out of a bear market

Carl Icahn (Credit: Heidi Gutman—CNBC/NBCU Photo Bank/NBCUniversal/Getty Images)

Even after the best day the stock market has seen in two years, famed investor Carl Icahn still isn’t changing his pessimistic outlook on the economy.

Icahn reiterated warnings that the U.S. is in a recession and that he is keeping his portfolio at Icahn Enterprises hedged, the billionaire said on CNBC’s Closing Bell Overtime show on Thursday. Icahn argues Thursday's swings in the market were made by a small percentage of investors and are not indicative of the broader market sentiment.

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