Richard Orrell of RN Croft Financial Group highlights three ETFs: TD U.S. Equity Index ETF (TPU), Vanguard FTSE Developed ex North America High Dividend Yield Index ETF (VIDY) and Franklin Bissett Ultra Short Bond Fund (FHIS). He notes U.S. and Canadian markets are near all-time highs, making this a good time to review asset allocation and rebalance, and says strategic portfolio shifts are typically evaluated around a 15 per cent equity drawdown. He expects technology to lead equity markets higher in Q4 if bond yields stabilize, while Canada faces headwinds from heavy household debt, subdued productivity and CUSMA uncertainty. The management expense ratios of the three funds are 0.07 per cent, 0.31 per cent and 0.17 per cent, respectively. Orrell also cites trade policy, inflation, energy costs, the U.S. midterm elections and Middle East tensions as ongoing risks.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on bnnbloomberg.ca ↗
Related news
- Citi reveals top crypto stock picks ahead of Q3 earnings
Peter Christiansen, Director of Digital Assets Equity Research at Citi, explains why the bank is turning more bullish on crypto equities ahead of Q3 earnings. He covers Citi's upgrades of Galaxy and Gemini, its downgrade of Securitize, the MSCI index exclusion threat facing Strategy, and Circle as his top pick with a $243 target. Bart Smith, CEO of Avalanche Treasury Co. (AVAT), argues that Wall Street's tokenization push will land on Avalanche, explains how a regulated permanent-capital vehicle differs from spot AVAX or an ETF, and says bitcoin is maturing into digital gold.
- Goldman Sachs Picks Top African Gold Miners on Growth, Cash Flow Outlook
Goldman Sachs initiated coverage on Endeavour Mining and AngloGold Ashanti with Buy ratings, citing their organic growth, strong cash flow and shareholder returns, while both stocks trade at discounts linked to their jurisdictions. For Endeavour, Goldman set 12-month targets of GBP47 per share (EDV.L) and CAD90 per share (EDV.CN), based on 1x net asset value and 4.5x 2027 EV/EBITDA, and expects output to rise from 1.1 million ounces to about 1.5 million ounces by 2030. The Assafou project alone is expected to add 320,000 ounces a year, and the bank estimates shareholder distributions of about $1.8 billion over three years. For AngloGold Ashanti, targets are $104 per share (AU) and ZAR 1,720 per share (ANGJ.J), based on 1x NAV and 6x 2027 EV/EBITDA, with brownfield projects that could add 300,000 to 450,000 ounces a year by 2030, or 10% to 15% growth from the 2025 base.
- FISV, NU, LPLA: Analyst Picks Top 3 Financial Stocks In 'Forgettable Year' For Sector
Morningstar's Sean Dunlop named LPL Financial (LPLA), Fiserv (FISV) and Nu Holdings (NU) as his top sector picks, noting financial stocks have lagged in 2026 on AI disruption fears and rising rates, after the Federal Reserve raised rates in September for the first time since 2023. The Financial Select Sector SPDR Fund (XLF) is up just 0.76% year to date, versus nearly 14% for the SPDR S&P 500 ETF Trust (SPY). Dunlop believes the market has overreacted on the three names, and Morningstar's price targets imply about 68% upside for LPLA ($543), about 130% for FISV ($106) and about 11% for NU ($16.60). He flagged LPL's need to address AI risk to its client sweep cash, Fiserv's moat and 'reset year' status, and Nubank's expansion into other Latin American markets and the U.S. Stocktwits retail sentiment was neutral on LPLA and FISV and bearish on NU.
Related markets
Latest news
- Meta Earnings: What To Look For From META
Meta Platforms (NASDAQ:META) will report earnings this Wednesday after the market closes. Last quarter, revenue reached $60.8 billion, up 28% year on year and above analysts' expectations, though revenue guidance for next quarter slightly missed forecasts; daily active users hit 3.6 billion, up 3.4%. The market expects revenue growth of 23.6% this quarter, slowing from 26.2% a year earlier, and analysts have generally reconfirmed their estimates over the past 30 days. Over the last month, consumer internet stocks have gained 1.3% on average, while Meta is down 4.8%.
- An AI bust could come from places investors arent watching , an economist says
Concerns about an AI bubble are growing, and TS Lombard's Dario Perkins warns that investors may be overlooking other risks. Debt among smaller cloud providers, model developers and suppliers could reach $2 trillion by the end of 2027. Perkins does not see this as a systemic risk, but warns that earnings disappointments and canceled orders could ripple through the ecosystem, and that a chip glut could follow over-ordering. Much of the industry's revenue growth still comes from spending within the AI ecosystem rather than from businesses and consumers outside it. He also flags political backlash, noting that ordinary people dislike AI and nearby datacenters, and warns that one high-profile accident could turn AI toxic.
- Yen jumps after JGB auction draws big demand , euro finds relief
The yen rose 0.2% to 158.15 per dollar in Asian trading after a 20-year Japanese government bond auction drew bids of 5.84 times the amount sold, well above the 4.01 times at the previous auction, and the yield fell 6 basis points to 3.71%. A State Street strategist said the record demand suggests sidelined cash is returning and that JGBs are becoming a relative haven from political and fiscal volatility in Europe, particularly France. Anti-government protests in France prompted curfews in several cities, while Italy said it would send 500 troops after two days of unrest, and the euro rallied 0.2% to $1.1234. Elsewhere, bitcoin slipped 0.3% to $81,674.25 and ether edged down 0.2% to $2,393.21.
- Unemployment rate dips to 4 . 7 % - but vacancies hit five - year low
Vacancies fell by 21,000 to 691,000 in the three months to September, the biggest drop since the three months to March and the lowest since July to September 2014 outside the pandemic, while unemployment dipped in the three months to August. Payroll numbers were down 66,000 over the year to September. The ONS said the fall was mainly among smaller firms struggling with higher labour costs, following rises in employer national insurance, the minimum wage and workers' rights. A CBI survey found labour costs and regulations were making it harder to create jobs, and firms urged the Chancellor not to add to their burden in the October 28 Budget. ICAEW's Suren Thiru said the labour market is 'running on idle' and unemployment could climb above 5 per cent, while Shadow Chancellor Andrew Griffith blamed Labour's 'Jobs Tax' and red tape.
- CNBC Daily Open: Tech rebounds in the U.S., but Asia isn’t buying it yet
U.S. tech stocks rebounded as the Nasdaq Composite rose more than 1% on Monday, with Nvidia up 1.4% and Tesla up 3.8%. In Asia, however, tech shares fell on Tuesday, with South Korea's Kospi down over 4% and Japan's Nikkei 225 down 1.6%. Nvidia also unveiled plans to back four German AI startups as part of its nearly $10 billion European investment commitment. Jenny Lee of Granite Asia said Asian companies are reaching IPOs much sooner, often at four to five years old, while Jio Platforms' Indian IPO saw its anchor investor quota oversubscribed more than 30 times, aiming to raise up to 302 billion rupees ($3.2 billion). In Singapore, several agricultural stocks fell after Senior Minister K Shanmugam warned that companies would not escape responsibility for possible roles in the haze, noting seven firms had been questioned by the Singapore Exchange.
- NiSource (NI) Stock Looks Overvalued Against Its Dividend Outlook
NiSource has nearly doubled shareholders' money over the past five years, delivering a 97.6% total return, which raises the question of whether dividends can justify the current share price. The article highlights a new 20-year energy agreement with Microsoft, including customer-funded grid upgrades and long-term electric service for data centers, which may affect future capital needs and cash-flow visibility. Using a Dividend Discount Model with inputs of about $1.35 dividend per share, roughly 9.07% return on equity, a payout ratio slightly above 61%, and implied dividend growth of about 3.5%, the estimated intrinsic value sits meaningfully below the current share price of $41.95. The model still does not bridge that gap, suggesting income investors are paying a premium for a relatively steady payout with modest assumed growth.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.