Greg Newman, senior wealth advisor & portfolio manager at Newman Group, ScotiaMcLeod, shares his outlook on North American Equities.

Greg Newman, Senior Wealth Advisor & Portfolio Manager, Newman Group, ScotiaMcLeod

Focus: North American Equities

Top picks: Atkinsrealis, Keyera, Tourmaline Oil

MARKET OUTLOOK:

Equities are expensive, particularly in the U.S. Yet AI spending, lower interest rates and higher earnings provide strong tailwinds. We continue to see many investible themes.

Financials offer good value with deregulation, strong capital markets activity and a steeper yield curve. Small caps offer upside with lower valuations and lower interest rates likely over the next several months.

Aerospace and defense companies are attractive with increased military spending across the globe. Gold equities continue to be cheap relative to the price of the commodity. Biotech stocks that have been cheap for years can benefit from AI innovation that is likely not yet fully reflected in share prices. Finally, spending in Canada can help fuel areas of the TSX including energy infrastructure.

Stay long these themes and as always have an asset allocation that can help you sleep at night and provide ammunition when a correction occurs.

TOP PICKS:

Greg Newman’s Top Picks: Atkinsrealis, Keyera & Tourmaline Oil Greg Newman, senior wealth advisor & portfolio manager at Newman Group, ScotiaMcLeod, shares his top stock picks to watch in the market.

Atkinsrealis (ATRL TSX)

Offers investors brisk growth at a reasonable price.

Keyera (KEY TSX)

Offers investors solid growth and a compelling dividend at a fair price.

Tourmaline Oil (TOU TSX)

Offers investors solid growth and a nice dividend at a fair price.

DISCLOSUREPERSONALFAMILYPORTFOLIO/FUNDATRL TSXYYYKEY TSXYYYTOU TSXYYY

PAST PICKS: SEPTEMBER 16, 2024

Greg Newman’s Past Picks: Manulife Financial, Brookfield Infrastructure Partners & Uber Technologies Greg Newman, senior wealth advisor & portfolio manager at Newman Group, ScotiaMcLeod, discusses his past stock picks and how they’re doing in the market today.

Manulife Financial (MFC TSX)

Then: $38.44

Now: $42.70

Return: 11%

Total Return: 16%

Brookfield Infrastructure Partners (BIP.UN TSX)

Then: $45.48

Now: $43.29

Return: -5%

Total Return: 0.45%

Uber Technologies (UBER NYSE)

Then: US$71.52

Now: US$96.85

Return: 35%

Total Return: 35%

Total Return Average: 17%

DISCLOSUREPERSONALFAMILYPORTFOLIO/FUNDMFC TSXYYYBIP.UN TSXYYYUBER NYSEYYY