Stan Wong's Top Picks Fuel Market Optimism in Second Half
The second half of 2026 is off to a strong start for North American large caps and ETFs, according to Stan Wong, portfolio manager at Scotia Wealth Management. Wong points to resilient economic growth, improving corporate earnings, and a less restrictive rate environment as supportive factors.
Two stocks that stand out are Amazon (AMZN NASD) and Caterpillar (CAT NYSE). Amazon is evolving into one of the world's most important technology and digital-infrastructure companies, with fiscal 2027 revenue forecast to reach nearly $950 billion. Earnings per share are expected to grow at an annualized rate of approximately 20% through 2028.
Caterpillar is also benefiting from several long-term spending trends converging in its favour. Governments are upgrading roads and utility infrastructure, manufacturers are bringing production back to North America, mining companies are expanding capacity for critical minerals, and data-centre operators are investing heavily in reliable power.