Latest news with #RyanKelley
Yahoo
13-05-2025
- Business
- Yahoo
Market is experiencing 'disconnected resilience.' Here's how.
Equities (^DJI, ^IXIC, ^GSPC) close on a colossal day of gains after US and China officials brokered a 90-day pause on their tariffs, significantly slashing their respective tariffs on one another amid ongoing trade negotiations. Hennessy Funds CIO Ryan Kelley comes on Market Domination Overtime to explain why he perceives the market as showcasing "disconnected resilience," touching upon what areas he is still finding strength and uncertainty in. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. This is a market characterized, I think you called it um, disconnected resilience. What does that mean exactly? Walk me through it. Well, it's a little fancy and it's a little bit more of an idea that it came with, came up with, uh, you know, earlier over the weekend. Obviously, a lot has changed today. But the idea is that six months ago we had a lot of ideas about what would send that market higher, you know, um, and with a new administration coming in, it could be, uh, you know, lower taxes, it could be less regulation, it could be, uh, you know, uh, just a better business environment, a better economic environment. Uh, a lot of those things didn't really happen, yet, at least. And we've got some pretty, um, you know, pretty hard, uh, uh, sort of things to work through uh, in the economy with these higher tariffs, uh, with a lot of uncertainty, with a lot of unknowns. Uh, you've seen it from corporations as well. They've uh, out of the S&P 500 companies about 55% of them that give earnings guidance has lowered them this particular quarter. So the idea is this market is flat for the year when when you look at a total return basis after today. Yes, today's news is is incredible and it pushed things higher, but that that resilience is a little bit disconnected with what's changed since, you know, last November or so, when we were looking at the market in a different way. That that's to me another way of saying what's happened doesn't make sense. In a way, yes. Absolutely. And so, if you're trying to invest in this market and anticipate what's going to happen and it doesn't always make sense, then what do you do? Well, a lot of times the market doesn't make sense. Uh, you know, I've been doing this long enough to know, yeah, and we see it continue to move higher when we're in in the midst of very difficult situations. Um, this is one of the times in which um, I would to your point, we're looking at a situation where you're looking at 5% earning or revenue growth this year, 9% earnings growth, yet most um, I guess market analysts out there are calling for 15% upside in the S&P 500 this year. Well, in order for that to happen, we have to see um, you have to see uh, uh PEs go up. And are we going to see market multiples go up this year? That's going to be difficult in an environment where you don't really know how to plan for the future. You're seeing companies that want to put CAPEX to use and they they want to maybe do something and start producing things here. And yet, all of a sudden, there's a complete change um, and we might it might be more advantageous to continue to get goods from from outside United States. Well, and just to put a fine point on this, the market is behaving today like obviously it's not the worst case scenario, but that things are more clear. But what you're saying is that things aren't necessarily more clear or more certain. They're not. And one of the reasons is also we have to talk about what the Fed's going to do. Um, and this idea that there's always been a Fed put out there, um, it's it does exist, we do see that, but um, are we going to see the kind of data, they're very data dependent, data driven these days. And are we going to see that kind of weakness in the GDP or uh, you know, increases in unemployment or whatever they want to see or need to see in order to start really reducing rates? We're only looking at two to three uh, potential rate cuts this year, and they don't seem to be in too much of a hurry. So, you know, overall, I'd say that we are we're constructive in the market. We're we're definitely, you know, it is a resilient marketplace, the US market right now. I still think there's a whole lot of unknowns that are going to come out over the next three months to six months. So you're you're constructive on the market, Ryan. Which sectors? Where do where do you see the opportunity? Well, it may sound a little uh, redundant because their sectors have already done well this year, um, but, you know, utilities. We have a utility fund, for instance, which has done very well this year. Uh, those companies are actually seeing out of all the S&P 500s have seen some of the best um, uh, sort of out performance in earnings this first quarter. Um, their utilities, they're not super exciting, uh, but they're defensive in nature, of course. Uh, we also think, you know, staples and financials. We think there's more to go with financials. If we continue to see the yield curve staying steeper like it is, that's going to help the banks. Um, the economy feels a little better right now. Uh, tariffs coming down makes everybody a little bit more comfortable in that, and I think financials are going to do well for the rest of this year as well. Um, what about the um, tax bill equation and how that feeds into all of this? That's a tough one because that's depending on how it all shakes out, um, we're not sure if it's going to really help the consumer or not. Um, I think one of the things that it was, as I talked about, we talked about that six months ago, idea of corporate taxes. What about those? You know, if there's really a potential out there where you see another corporate tax rate, that's going to be completely to the bottom line for these companies and it's going to be positive for the stock market. It's not necessarily going to be positive immediately for the economy overall or for consumers, but I think that's another thing that we'll we'll continue to look at going forward. It'd probably be positive for the market. It will. It will absolutely. Yeah. Um, so uh, so yeah, we we continue to just invest personally, you know, for the long term. Um, a lot of this stuff going on, it's not noise, it's very important, but our process really looks over many, many years anyways. Uh, and so, you know, some of our funds have been around for 20, even 29 years, and those continue to be run the same way, uh, you know, going forward as well. Sign in to access your portfolio
Yahoo
13-05-2025
- Business
- Yahoo
Market is experiencing 'disconnected resilience.' Here's how.
Equities (^DJI, ^IXIC, ^GSPC) close on a colossal day of gains after US and China officials brokered a 90-day pause on their tariffs, significantly slashing their respective tariffs on one another amid ongoing trade negotiations. Hennessy Funds CIO Ryan Kelley comes on Market Domination Overtime to explain why he perceives the market as showcasing "disconnected resilience," touching upon what areas he is still finding strength and uncertainty in. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here.
Yahoo
09-05-2025
- Politics
- Yahoo
Berrien County GOP event featuring pardoned Jan. 6 rioters creates division within community
Michigan GOP gubernatorial candidate Ryan Kelley attends a right-wing rally at the state Capitol, Feb. 8, 2022 | Laina G. Stebbins A fundraiser set to be held Friday night by the Berrien County GOP has drawn criticism for hosting Jan. 6 rioters in a local American Legion hall. The fundraiser, 'Battlefield Michigan: Untold Stories from Michigan Freedom Fighters,' will be held at American Legion Post 568 in Stevensville and will feature two men charged, and since pardoned by President Donald Trump, for their roles in the Jan. 6, 2021, insurrection at the U.S. Capitol – including former gubernatorial candidate Ryan Kelley. It will also host William and Michael Null, who were acquitted of plotting to kidnap and kill Gov. Gretchen Whitmer. A flyer for the event calls the Jan. 6 attack on the U.S. Capitol a 'mostly peaceful protest about a stolen election.' A bipartisan U.S. Senate report found that at least seven people died in connection with the riot, including three law enforcement officers. After the event was announced, criticism came from within the veterans community itself about hosting such a divisive event. Marty Goldrick, a veteran and former member of the American Legion, told WNDU he was opposed to the openly partisan nature of the fundraiser. 'First of all, they bring these people in, but then they divide the American Legion, veterans, forcing them because there's Democrats and Republicans, Independents in any organization, but this thing here is a wedge. To glorify these people is unacceptable,' Goldrick told the station. Once the criticism mounted, the Herald-Palladium reported that the American Legion attempted to cancel the event, and issued a statement saying officials had not been told about the nature of the fundraiser at the time it was booked. 'Upon learning the nature of the event, from an outside source, the post attempted to cancel the event but was unable to do so because of contractual obligations and the dollar amount requested by the Berrien County GOP to allow the post out of the contract. The American Legion is a non-partisan organization and has no position on the subject matter being presented at the fundraiser and is not a part of the fundraiser,' the statement said. The county party, in a statement posted to Facebook, said there was an 'effort underway on social media to sabotage our event and disparage the Berrien County GOP,' and that canceling the event would constitute a breach of the contract they had both signed. 'We simply want to give Ryan Kelley and our other guests an opportunity to share their experience and perspective because they deserve the opportunity to tell their story and set the record straight. The public deserves an opportunity to hear their stories,' said the statement. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
Washington Post
19-04-2025
- Politics
- Washington Post
Some Jan. 6 rioters pardoned by Trump are now embraced as heroes and candidates for office
JACKSON, Mich. — Ryan Kelley thought he had a good shot at becoming Michigan's governor in 2022. That is, until he was charged with misdemeanors for participating in the Jan. 6 riot at the U.S. Capitol. His campaign sputtered and he finished fourth out of five candidates in the Republican primary.
Yahoo
19-04-2025
- Politics
- Yahoo
Takeaways from AP's report on pardoned Jan. 6 rioters being embraced in Republican politics
JACKSON, Mich. (AP) — Those who rioted, assaulted police officers or broke into congressional offices during the riot at the U.S. Capitol on Jan. 6, 2021 are now being received as honored guest speakers at local Republican events around the country. Since President Donald Trump pardoned about 1,500 rioters on his first day in office, some of those involved in the attack are getting a platform to tell their version of events and are drawing praise in some conservative circles as heroes and martyrs. Some are considering runs for office, recognizing that at least among a certain segment of the pro-Trump base, they are seen not as criminals, but as patriots. His arrest roiled his campaign for governor. Now he's back in the political spotlight Ryan Kelley thought he had a good shot at becoming Michigan's governor in 2022. That is, until he was charged with misdemeanors for participating in the riot. His campaign sputtered and he finished fourth out of five candidates in the Republican primary. Three years later, Kelley says people ask him all the time to run for governor again. In today's America, his two-month prison sentence for the Capitol riots isn't the obstacle to public life it may once have been. At a recent county Republican committee event in Jackson, Michigan, the 43-year-old commercial real estate developer was met with hugs and handshakes. Dozens of attendees hollered and clapped when he introduced himself as 'your favorite J6er.' They gasped and shook their heads as Kelley recalled how his young son thought he was dead while he was in federal prison. They urged him to run for governor in 2026, something he said he is debating. 'I've done much worse and did no jail time,' said 58-year-old Todd Gillman, a woodworker and Republican chairman for the local congressional district. 'Thank God people like Ryan Kelley are not intimidated by the lawfare that was used against them.' Kelley, who did not commit violence or enter the Capitol on Jan. 6, pleaded guilty to a misdemeanor trespassing charge. He maintains the judge who sentenced him made the decision based on the claims Kelley made about Jan. 6 and the 2020 election during his 2022 gubernatorial campaign — and not his actions at the Capitol. GOP groups around the country are platforming pardoned rioters By The Associated Press' count, at least two dozen local Republican groups nationwide in recent months have invited Jan. 6 rioters to speak at regular meetings or special fundraisers. They include people who only trespassed, but also rioters who were convicted and pardoned for more serious crimes, such as carrying a firearm on Capitol grounds or violently attacking law enforcement. The Western Wake Republican Club in North Carolina in March featured remarks from James Grant, a pardoned rioter who was among the first to assault police officers and breach a security perimeter during the attack. A Republican women's club in Lawrence County, Tennessee, earlier this month hosted an event for Ronald Colton McAbee. He was employed as a sheriff's deputy in Tennessee when he went to the Capitol, dragging an officer away from a police line and punching another who tried to stop him. Some of the local GOP groups welcoming Jan. 6 rioters have faced pushback from their communities, prompting them to relocate or even cancel scheduled events. One such event in California faced so much public backlash that three potential venues canceled, according to TV station KSBW. It was held at a fourth, with protesters outside. It makes sense that Republicans are featuring Jan. 6 rioters, said Matt Dallek, a historian at George Washington University who studies the conservative movement. 'Those who are pardoned can testify, like no one else can, to the horrific power of the federal government to destroy their lives,' Dallek said. 'It's a potent rallying cry, and also probably a potent fundraising tool.' But there also is a danger to elevating them, he said. Many of those pardoned used violence to stop the peaceful transfer of power, and juries determined their actions to be criminal. 'It is, I think, a mainstreaming, a growing acceptance on the right of political violence, as long as it's done in the service of Trump and his ongoing election lie,' Dallek said. Some pardoned rioters are running for office Jake Lang, who was charged with assaulting an officer, civil disorder and other crimes before he was pardoned, recently announced he is running for Secretary of State Marco Rubio's vacant U.S. Senate seat in Florida. Enrique Tarrio, the former Proud Boys leader who was sentenced to 22 years in prison before his full pardon, said in an interview with Newsmax that he will take a 'serious look at running for office' in 2026 or 2028 and believes his 'future is in politics.' In Texas, pardoned rioter Ryan Nichols announced a run for Congress but withdrew days later. Kelley said he is mulling a 2026 campaign for governor, but is not sure he can commit his young family to the grind of the campaign. Still, he recognizes that Trump's pardons have opened a window of opportunity. 'Now is kind of the time that I could catapult with that, right?' he said in an interview. 'We get a lot of hate, but I'm also going to get a lot of support.' ___ The Associated Press receives support from several private foundations to enhance its explanatory coverage of elections and democracy. See more about the AP's democracy initiative here. The AP is solely responsible for all content.
