Jay Hatfield, Founder of Infrastructure Capital Advisors, thinks the chance of a 50 basis point rate hike is pretty low due to the three new Fed governor nominees. He and Nicole discuss the geopolitical overhang. He sees support for the S&P 500 at the 4,200 level. They are recommending investors focus on defensive dividend stocks. They like preferred stocks, utilities, telecom services, pipelines and consumer staples.