The S&P 500 (^GSPC) reached another intraday high on Thursday following fresh GDP and jobless claims data that indicated strong economic trends. This comes as investors anticipate the next Federal Reserve rate cut following an aggressive initial 50 basis point reduction. Chairman and managing member of Great Hill Capital, LLC Thomas J. Hayes joins Wealth! to share his market outlook.

Hayes predicts that the most heavily weighted stocks within the S&P 500 may experience some choppiness after the Fed's "front-loaded" aggressive rate cuts. Based on historical trends following initial rate cuts, Hayes anticipates several shifts in market performance.

He expects the "unmagnificent 493" to outperform the "Magnificent Seven" due to accelerating earnings growth among the 493 and decelerating growth within the top seven. Additionally, Hayes foresees small caps outperforming large caps, value stocks surpassing growth stocks, consumer discretionary beating consumer staples, and emerging markets outpacing developed markets.

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This post was written by Angel Smith