Top Strategist Jon Wolfenbarger Warns Of Stock Market Crash And Year-Long Recession: 'Market Highly Vulnerable To Falling To New Bear Lows'
Portfolio Pulse from Benzinga Neuro
Market strategist Jon Wolfenbarger predicts a significant stock market crash and a year-long recession, citing economic indicators like The Conference Board's Leading Economic Index and an inverted yield curve. Despite strong earnings from tech giants, he warns of overvaluation and potential new bear market lows. His view contrasts with BlackRock's recent upgrade of U.S. stocks and other analysts' mixed outlooks.
January 30, 2024 | 7:00 am
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NEGATIVE IMPACT
Despite strong earnings, Apple Inc. may face a downturn if the predicted market crash and recession occur, as suggested by strategist Jon Wolfenbarger.
Apple, being part of the 'Magnificent Seven', may be particularly vulnerable to a market downturn due to its large market cap and the potential overvaluation noted by Wolfenbarger.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Amazon.com Inc. could be at risk in the short term if the market crash and recession predicted by Wolfenbarger materialize, despite recent earnings strength.
Amazon, as one of the tech leaders, could be affected by a bear market due to its significant size and the broader market's potential overvaluation issues.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Alphabet Inc. (GOOG) may face negative short term effects from the potential market crash and recession forecasted by Wolfenbarger.
Alphabet, as part of the leading tech companies, could be affected by a broader market downturn, especially with the tech sector's potential overvaluation.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Alphabet Inc. (GOOGL) may be negatively impacted in the short term by the predicted market crash and recession despite strong earnings.
Alphabet's Class A shares (GOOGL) are at risk of a downturn due to the broader market's vulnerability and concerns about tech overvaluation.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Meta Platforms Inc. could be impacted negatively in the short term if the market crash and recession predicted by Wolfenbarger come to fruition.
Meta, as a significant tech company, may see its stock price affected by a potential market downturn and recession, in line with broader market concerns.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Microsoft Corp. faces potential short term headwinds if the predicted market downturn and recession take shape, despite positive earnings revisions.
Microsoft, as a major tech player, may not be immune to a market sell-off, particularly with the broader S&P 500 facing downward earnings revisions.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
NVIDIA Corp. could see a decline in the short term if the market crash and recession predicted by Wolfenbarger occur.
NVIDIA's position in the tech sector could lead to a significant impact on its stock price if the market experiences a downturn as predicted.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Tesla Inc. may experience a negative short term impact if the stock market crash and recession forecasted by Wolfenbarger come to pass.
Tesla's stock could be susceptible to a downturn, especially given the concerns about overvaluation in the tech sector and the broader market's vulnerability.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80