Oct. 31, 2025 3:55 AM ETS&P 500 Index (SP500), SPX, US10Y, CL1:COM, NG1:COMAFMC, AFSM, ARKK, AVUV, BAPR, IVOO, IVOV, IVV, IVW, IWC, IWM, IWN, IWO, IWP, IWR, IWS, IYY, QQQ, SPLV, SPMD, SPMO, SPMV, SPSM, SPUS, SPUU, SPVM, SPVU, SPXE, SPXL, SPXN, SPXS, SPXT, SPXU, SPXV, SPY, SPYD, SPYG, SPYV, SPYX, SQLV, SSO, SSPY, SVAL, SYLD, TMDV, TPHD, TPLC, TPSC, UAUG, UJAN, UMAR, UMAY, UOCT, UPRO, USMC, USMF, USVM, MAGS, TLT, TLH, EDV, SPTL, ZROZ, VGLT, LGOV, SCHQ, TFJL, TBJL, GOVZ, TBT, TMV, IEF, SHY, TBF, TMF, PST, TTT, IEI, BIL, TYO, UBT, UST, UTWO, VGSH, SHV, VGIT, GOVT, SCHO, TBX, SCHR, GSY, TYD, VUSTX, SYSB, GBIL, SGOV, SPTS, UDN, USDU, UUP, RINF, AGZ, FTSD, LMBS, VO, MDY, IJH, BMVP, FNX, EZM, CSD, CZA, BUL, XJH, IMCB, GRPM, SCHM, ONEO, EQAL, REGL, PTMC, JHMM, DEUS, XMHQ, FLQM, FTDS, JPME, FSCS, VFMF, VFMV, VFQY, FSMD, SFYX, PAMC, SIXL, BKMC, QVMM, BBMC, MIDE, VXF, IJK, VOT, RFG, FAD, FNY, IPO, CWS, IMCG, MDYG, IVOG, XMMO, BFOR, SP500, SPX, US10Y, CL1:COM, NG1:COMInfrastructure Capital Advisors434 FollowersSummaryThe Fed cut rates as expected by 25bp and also announced the end of its balance sheet reduction, also as expected.Friday’s inflation print was very bullish, as the critical owner’s equivalent rent component declined to only .1% vs. .4% in the prior month and 3.8% Y/Y.We recently raised our S&P year-end 2025 target from 6,600 to 7,000 based on both continuing momentum in AI-related earnings growth and increased visibility on Fed rate cuts.We project that the 10-year treasury trades in the 3.5-4.0% range as the terminal rate of expected Fed funds trends down to the 2.75% area as reported inflation slowly reflects the decline in real-time inflation.We lowered our 2025 target on oil from $80 to $70 (range of $60-80) as it has become clear that Trump will use his influence with the Saudis and Russia to limit price increases despite tighter sanctions on Iran.deepblue4you/iStock via Getty ImagesEconomyThis article was written byInfrastructure Capital Advisors434 FollowersInfrastructure Capital Advisors ("Infrastructure Capital") is a leading provider of investment management solutions designed to meet the needs of income-focused investors. Jay Hatfield is CEO and CIO of the investment team. Mr. Hatfield is the lead portfolio manager of the InfraCap Small Cap Income ETF (NYSE: SCAP), InfraCap Equity Income Fund ETF (NYSE: ICAP), InfraCap MLP ETF (NYSE: AMZA), Virtus InfraCap U.S. Preferred Stock ETF (NYSE: PFFA), InfraCap REIT Preferred ETF (NYSE: PFFR), and a series of private accounts. Infrastructure Capital frequently appears on or is quoted in Fox Business, CNBC, Barron's, The Wall Street Journal, Yahoo Finance, TD Ameritrade Network, and Bloomberg Radio/TV. The team at Infrastructure Capital publishes a monthly market and economic report, quarterly commentaries, investing primers, and asset class and strategy research. In addition, Infrastructure Capital hosts a monthly webinar and attends industry conferences in an effort to provide educational investing resources.CommentsRecommended For You