Gordon Reid's Top Picks: May 16, 2023

Top picks from Gordon Reid, president and chief executive officer, Goodreid Investment Counsel

FOCUS: U.S. equities 

MARKET OUTLOOK:

Market consensus, which was largely bearish in the early part of 2023, is beginning to turn more positive. The primary reasons are the perceived ending of central banks’ tightening cycle, corporate earnings that are holding up better than expected, steady improvements on the inflation front, and optimism that AI and other advanced technologies will spur positive change. While all that sounds good, valuations on the broad U.S. market are relatively rich.