Cole Kachur, portfolio manager and senior investment advisor, Wellington-Altus Private Wealth

FOCUS: North American stocks, ETFs 

MARKET OUTLOOK:

Stocks have had a great first half of the year and generally, this is a harbinger of good things to come in the second half of the year. With decreasing inflation, the potential for further rate cuts and solid corporate earnings, we believe that the market will finish the year higher than current levels. Our mid-year target for the S&P 500 Index was 5,500 and now that we have hit that level, we are exercising near-term caution as there is an increased likelihood of a small pullback prior to markets accelerating again in the last quarter of the year.

We will look to use any pullback to continue to increase exposure to the broader S&P/Nasdaq Composite and to stocks in a clear uptrend, with a preference towards technology and AI. We expect to see the S&P and Nasdaq outperform the S&P/TSX Composite Index and will continue to place capital towards the U.S. market. 

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TOP PICKS:

Micron Technology (MU NASD)

Shopify (SHOP TSX)

Intel (INTC NASD)

PAST PICKS: March 7, 2024

Ishares US Small Cap Index ETF (XSU TSX)

• Then: $40.31
• Now: $39.27
• Return: -2%
• Total Return: -2%

Apple (AAPL NASD)

• Then: US$169.00
• Now: US$220.28
• Return: 30%
• Total Return: 30%

Alphabet (GOOG NASD)

• Then: US$135.24
• Now: US$186.35
• Return: 38%
• Total Return: 38%

Total Return Average: 22%