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The S & P 500 could rally nearly 23% into 2025 if the Republicans sweep the election, according to Jay Hatfield, founder & CIO of InfraCap. Specifically, Hatfield said he sees the broad market index climbing to 7,000 next year. The odds of that scenario grew overnight, as former President Donald Trump took the lead in the U.S. presidential race over Vice President Kamala Harris. Despite the current electoral backdrop, Hatfield cautioned he's not as confident as the market is about Trump regaining the presidency. "It seems like the odds might be a little bit ahead of the data so far," he told CNBC.
Persons: Jay Hatfield, Hatfield, Donald Trump, Kamala Harris, Trump, Harris, it's, he's Organizations: Republicans, InfraCap, Republican, U.S, NBC, GOP, NBC News, Trump, CNBC Locations: North Carolina, Virginia
One financial firm is trying to capitalize on preferred stocks – which carry more risks than bonds, but aren't as risky as common stocks. Infrastructure Capital Advisors Founder and CEO Jay Hatfield manages the Virtus InfraCap U.S. Preferred Stock ETF (PFFA) . Since its May 2018 inception, the Virtus InfraCap U.S. Preferred Stock ETF is down almost 9%.
Persons: Jay Hatfield, we're, CNBC's, Hatfield Organizations: Infrastructure Capital, Virtus InfraCap U.S, Preferred Stock ETF, SLM Corporation, Preferred
ETF Edge: InfraCap founder on ETF's outperformance
  + stars: | 2024-09-30 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailETF Edge: InfraCap founder on ETF's outperformanceAdding preferred stock section to active management could lead to overlooked income opportunities
Persons: ETF's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHatfield: Recommend value and dividend-paying stocks to hedge against volatilityJayfield, Chief Investment Officer of InfraCap, discusses market rotation, the stock sell-off, and inflation.
Investors are flocking to small-cap stocks right now, driving this segment of the market to new highs this week. He also noted that the Russell 2000 is outperforming the S & P 500 by the widest margin since November 2021. But according to him, one group of small-cap stocks could do well if rates were to stay higher for longer: regional banks. However, Turnquist cautioned that small-cap growth stocks would find the outlook tougher than small-cap value stocks, as they are more sensitive to economic health. How to play small-caps Investors who have been making a play for small-caps include billionaire Stanley Druckenmiller , who revealed a big bullish position in small-cap stocks last quarter.
Persons: Russell, Adam Turnquist, Turnquist, we've, There's, Trump, Kelvin Wong, Donald Trump, Wong, Stanley Druckenmiller, FactSet, David Dietze, Dietze, Jay Hatfield, Kilroy, Jefferies, Hatfield, , Yun Li Organizations: CNBC, LPL, U.S . Federal, Federal Reserve, Citi, Wealth Management, CNBC Pro, Corp, Jefferies Locations: U.S, America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHatfield: This is the year of global rate cuts, which should support stocksJay Hatfield, founder and CIO of Infracap, discusses why he raised his S&P 500 price target to among the highest on Wall Street, and why even that new target may be too low.
Persons: Jay Hatfield Organizations: Infracap
Surging bond yields and mixed earnings reports have weighed on the so-called Magnificent Seven stocks, which are collectively down an average of about 15% from their 52-week highs, though they all still sit on hefty gains for the year. The stocks now trade at an average forward price-to-earnings ratio of about 30 times compared with 45 times in mid-June. I actually think the Magnificent Seven will hold up better,” said King Lip, chief strategist at Baker Avenue Wealth Management. Because the Magnificent Seven have a combined weighting of 28% in the S&P 500, their performance holds a large sway over the broader index. Lip said his firm owns shares of all seven companies and has recently added to its holdings in some of them.
Persons: Brendan McDermid, Meta, , Lip, Jay Hatfield, Kim Forrest, ” Forrest, Apple’s, Hatfield, Thomas Ognar, Ognar, ” Ognar, Lewis Krauskopf, Ira Iosebashvili, Jonathan Oatis Organizations: NVIDIA Corp, New York Stock Exchange, REUTERS, Apple, Microsoft, Wealth Management, Tech, BofA Global Research, Vanda Research, Federal, Treasury, U.S, Google, Facebook, Bokeh Capital Partners, Nvidia, Allspring, Thomson Locations: New York City, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHatfield: The AI boom and peak in rates could take stocks above fair valueJay Hatfield, Founder and CIO of Infracap, discusses the key catalysts he's watching in the markets.
Persons: Jay Hatfield Organizations: Infracap Locations: Hatfield
The benchmark S&P 500 (.SPX) has risen 11.5% this year and stands at a 10-month high. The S&P 500 rose 1.45%. The recent surge in Nvidia showed how a stock can keep climbing even after posting hefty gains. At the same time, only 20.3% of S&P 500 stocks have outperformed the index on a rolling three-month basis, a record low dating back five decades, according to Ned Davis. Kotok views narrowing breadth as an ominous sign for the broader stock market, saying that equities also look less favorable in certain asset valuation metrics.
Persons: Ned Davis, Peter Tuz, Jay Hatfield, ” Hatfield, , Brendan McDermid Michael Purves, Purves, Kevin Mahn, Refinitiv, , Mahn, Dow, David Kotok, Lewis Krauskopf, Ira Iosebashvili, Nick Zieminski, Diane Craft Organizations: YORK, BofA Global Research, Ned Davis Research, Chase Investment, Nvidia, Apple, Microsoft, Google, Federal Reserve, New York Stock Exchange, REUTERS, Tallbacken Capital Advisors, Nasdaq, Hennion, Walsh Asset Management, Dow Jones, Cumberland Advisors, Thomson Locations: megacap, BofA, New York City, U.S
The benchmark S&P 500 (.SPX) has risen 11% this year and stands at a 10-month high. He is overweight megacaps, including Nvidia, Microsoft and Google-parent Alphabet (GOOGL.O). The recent surge in Nvidia showed how a stock can keep climbing even after posting hefty gains. At the same time, only 20.3% of S&P 500 stocks have outperformed the index on a rolling three-month basis, a record low dating back five decades, according to Ned Davis. In one commonly used valuation metric, the S&P 500 is trading at 18.5 times forward earnings estimates compared to its historic average of 15.6 times, according to Refinitiv Datastream.
Persons: Ned Davis, Peter Tuz, Jay Hatfield, ” Hatfield, , Michael Purves, Purves, Kevin Mahn, Refinitiv, , Mahn, Dow, David Kotok, Lewis Krauskopf, Ira Iosebashvili, Nick Zieminski Organizations: YORK, BofA Global Research, Ned Davis Research, Chase Investment, Nvidia, Apple, Microsoft, Google, Tallbacken Capital Advisors, Nasdaq, Hennion, Walsh Asset Management, Dow Jones, Cumberland Advisors, Thomson Locations: megacap, BofA
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHatfield: There's a deep bid for bonds that didn't exist 20 years agoJay Hatfield, founder and CIO of Infracap, says he believes the Fed will come to the realization that inflation is declining, and that will set the markets up for a summer rally.
S&P 500's busiest tradesThe S&P 500 declined 0.25% to end the session at 4,090.38 points. Reuters Graphics Reuters GraphicsOf the 11 S&P 500 sector indexes, seven declined, led lower by consumer discretionary (.SPLRCD), down 2.04%, followed by a 1.3% loss in industrials (.SPLRCI). Analysts on average expect aggregate S&P 500 company earnings for the first quarter to have fallen 5% year-over-year, according to Refinitiv I/B/E/S. Declining stocks outnumbered rising ones within the S&P 500 (.AD.SPX) by a 1.2-to-one ratio. The S&P 500 posted 11 new highs and two new lows; the Nasdaq recorded 39 new highs and 269 new lows.
Driving the recession fears, the ADP National Employment report showed U.S. private employers hired far fewer workers than expected in March. S&P 500's busiest tradesThe S&P 500 was down 0.52% at 4,079.37 points. Of the 11 S&P 500 sector indexes, six declined, led lower by consumer discretionary (.SPLRCD), down 1.93%, followed by a 1.65% loss in information technology (.SPLRCT). Declining stocks outnumbered rising ones within the S&P 500 (.AD.SPX) by a 1.5-to-one ratio. The S&P 500 posted eight new highs and two new lows; the Nasdaq recorded 25 new highs and 218 new lows.
Financial stress stemming from Silicon Valley Bank's collapse could spread, a top fund manager said. But that in itself is becoming an under-the-radar issue, he noted, as large banks' strength is now coming at the expense of regional banks — even those without issues. Since most regional banks aren't classified as "systemically important," their clients would be out of luck in the event of a bank failure, Hatfield noted. Unless the FDIC insures all deposits at all banks, Hatfield said that there will be no reason to put money in a non-protected regional bank. So they'll have a negative interest margin, they'll lose money, they'll get downgraded, and they'll go out of business."
Lloyd Blankfein on safety of money: 'Sort of yes'
  + stars: | 2023-03-19 | by ( Ramishah Maruf | ) edition.cnn.com   time to read: +4 min
Lloyd Blankfein, the former CEO of Goldman Sachs said the answer is not black and white on “Fareed Zakaria GPS” Sunday. Instead, the central bank along with the Federal Deposit Insurance Corporation and the Treasury Department, have the power to guarantee deposits bank by bank if they find a systemic emergency. “Do we want to make it the duty of depositors to do that kind of forensic accounting analysis on banks?” Blankfein said. If it’s certified, we get on them.”The difference between 2008 and now is the difference in assets, Blankfein said. If the current model of banking stays in place, most Americans will think their money is only safe in too-big-to-fail banks, Blankfein said.
SVB fallout: Is my money safe?
  + stars: | 2023-03-13 | by ( Ramishah Maruf | ) edition.cnn.com   time to read: +6 min
New York CNN —The question on so many bank customers’ minds in the aftermath of Silicon Valley Bank’s stunning collapse: Is my money safe? US customers held at least $151.5 billion in uninsured deposits by the end of 2022, SVB’s latest annual report said. But before markets opened this week, the Biden administration took an extraordinary step, guaranteeing that SVB customers will have access to all their money starting Monday, even uninsured deposits. Many SVB customers had much more than $250,000 deposited and now that they can’t get their money, some companies are struggling to make payroll. “I don’t think people should panic, but it’s just prudent to have insured deposits versus uninsured deposits,” Hatfield said.
Some also worry that the Fed's messaging is becoming erratic as it reacts to successively weak then strong economic data. BlackRock, the world's biggest asset manager, was among the slew of big Wall Street names raising their views for how high policy rates could go, with a forecast of 6%. Reuters GraphicsFor some investors, a return to 50 and 75 basis point rate increases may be a bridge too far. "Investors fear the Fed is going to overdo it," said Jack Ablin, chief investment officer at Cresset Capital. A spate of hotter than expected data would soon show that the economy was stronger than the Fed had expected.
But is this just a bear market rally or the start of a bull market ? The rally has some way to go, said Trivariate Research analysts, led by founder Adam Parker, in a Feb. 5 note. "It means there is further upside potential to this rally," Parker wrote. But markets could go through some range-bound trading before a "big rally," Hatfield told CNBC Pro. In light of the volatile market, Niles said investors should continue staying invested in cash — his "favorite investment" for this year.
The S & P 500 is currently at around 3,839. Based on the current yield of 3.75%, the S & P 500 is "fairly valued" at 3,800 — implying no upside. 'Conviction themes' in 2023 Hatfield highlighted the "conviction investment themes" he expects to be very attractive in 2023. One asset class he highlighted was preferred stocks, which have the characteristics of both stocks and bonds . "We believe that preferred stocks are extremely attractive now as most are trading at more than a 20% discount to par.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHatfield: The resilient U.S. economy will benefit both stocks and bonds next yearJay Hatfield, Founder and CIO of Infracap, joins Worldwide Exchange to discuss his investment thesis ahead of the shortened trading day.
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