Jay Hatfield originally set a 7,000 target for the SPX but since curbed it to 6,600. He made the cut based off a lack of tax incentives from the Senate's version of the "big, beautiful bill," though he sees other positive catalysts. For one, Jay expects a "dovish" pause from the Fed with its meeting in July. He adds that July is typically the strongest month for equities that will be led by strong earnings.