Jay Hatfield, CEO of Infrastructure Capital Advisors, says a “power rally” is coming to stocks in July, driven by lower oil prices and softening inflation data.
Hatfield tells Fox Business he he hopes Crude oil, which is said to be heading to $60 after falling below $70, to help produce monthly CPI prints in July and August.
He thinks the readings should reduce the Federal Reserve’s interest rates in the markets.
“We think we’re about to enter a real Goldilocks year because we’ve been interested in oil below 70, which a lot of people think is wrong. We think we’ll get to 60.
We think we will have negative CPI data in July and August for the last few months, and that will start to lower Fed rates. “
Hatfield says that summer earnings reports rather than results from chip companies usually drive July strength in stocks.
He also believes the market’s strength in June’s share volatility will support his 9,000 target for the S&P 500.
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