# S&P 9,000? Jay Hatfield Says Wall Street Is in an Earnings Bubble, Not a Stock Bubble

Page: https://stenobird.com/podcast/the-weekly-money-clip-6866050/s-p-9-000-jay-hatfield-says-wall-street-is-in-an-earnings-bubble-not-a-stock-bubble-2
Text version: https://stenobird.com/podcast/the-weekly-money-clip-6866050/s-p-9-000-jay-hatfield-says-wall-street-is-in-an-earnings-bubble-not-a-stock-bubble-2.md
Podcast: [Biz Talk Today TV](https://stenobird.com/podcast/the-weekly-money-clip-6866050)
Published: 2026-06-02T20:03:00+00:00
Episode link: https://traffic.megaphone.fm/FPMN7823995606.mp3
Audio file: https://traffic.megaphone.fm/FPMN7823995606.mp3
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Duration seconds: 2322

## Resource

Is Wall Street dramatically underestimating the next leg of the bull market? On this episode of Hatfield Economics, host Todd M. Schoenberger sits down with Jay Hatfield, CEO of Infrastructure Capital Management and CIO of ICAP ETFs, to discuss why he believes the market is experiencing an earnings bubble—not a stock bubble. Jay explains why rising corporate earnings estimates could justify an eventual S&P 500 target of 9,000, even as investors grapple with geopolitical tensions, elevated oil prices, and uncertainty surrounding the Strait of Hormuz. 📈 Key Topics Include: • Why Jay believes the S&P 500 could eventually reach 9,000 • The difference between an earnings bubble and a stock bubble • Why AI investment continues to drive economic growth • Oil prices, inflation, and the outlook for interest rates • Marvell's remarkable rally and the power of PEG ratio investing • Oracle, Microsoft, and enterprise software opportunities • Why Lockheed Martin remains a defensive winner • The outlook for KKR, investment banks, and financial stocks • SpaceX IPO valuation concerns and Elon Musk's "vaporware" projects • How the new QVOL Nasdaq Income Fund seeks to generate income while outperforming the Nasdaq Jay also shares his investment framework for identifying undervalued growth stocks, explains why certain high-profile companies may be overpriced, and discusses how investors can navigate uncertain markets while maintaining long-term upside exposure. If you're looking for insight on stocks, AI, oil, SpaceX, market valuations, and the future of the economy, this is an episode you won't want to miss. 📺 Watch now on Biz Talk Today TV. 🔗 Website: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://biztalktodaytv.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ 📧 Contact on Email: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠…

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