John O’Connell’s Top Picks for March 2, 2026
BNN Bloomberg
Top Picks from John O’Connell, CEO, Davis Rea
Focus: North American large caps
Top Picks: JPMorgan Chase, American Express, Charter Communications
MARKET OUTLOOK:
The recent “regime alteration plan” in Iran—following a similar playbook in Venezuela—signals a shift toward a “short-war” scenario that, while volatile today, points toward long-term regional stability. Oil prices may spike on jitters, but the fundamental trajectory is lower. one could argue this is ‘peak threat’, and the adage; ‘sell the news’ is fair warned today. Lower energy prices are the ultimate economic lubricant, bolstering consumer power and anchoring disinflation.
A spike in gold may also prove to be a good selling opportunity. Treasuries bonds are catching a bid causing interest rates to fall, a supportive market soothing event. The real risk isn’t the Middle East, but the opaque private credit markets. If a credit crisis emerges there, expect the Fed to revert to its familiar “Whack-A-Mole” strategy, lowering rates to prevent a systemic seizure. “Same as it ever was” to quote Davis Byrne of the Talking Heads.
The U.S. is temporarily easing some sanctions on Russian oil shipments, reflecting global concerns over sharply higher crude prices due to supply shortages stemming from the Iran war.
The Trump administration this week stepped up its ambitious effort to replace about US$1.6 trillion in lost tariff revenue that was eliminated by the U.S. Supreme Court’s decision to strike down a range of the president’s import taxes.
The Bank of Canada will be balancing a last-minute flood of economic data with uncertainty around trade and war in the Middle East as it prepares to make its second interest rate decision of 2026 this week.
The Trump administration has expanded its trade investigations to 60 countries, including Canada, in an effort to shore up the president’s tariff policies.
Canada has committed to supplying 23.6 million barrels of oil as part of a larger International Energy Agency plan to help stabilize energy markets as the war in the Middle East continues.
Canada’s energy-heavy index may cushion stocks from oil shocks, but rising crude prices could boost inflation and pressure consumers.
Venture Global will proceed with phase 2 of its CP2 liquefied natural gas project in Louisiana, the company said on Friday.
The U.S. is temporarily easing some sanctions on Russian oil shipments, reflecting global concerns over sharply higher crude prices due to supply shortages stemming from the Iran war.
Telus Corp.’s global IT and customer services arm says it’s investigating a breach of its systems.
When Jensen Huang strides onto the stage of a packed hockey arena to kick off Nvidia’s annual developer conference on Monday, he is likely to reveal products and partnerships geared toward keeping the AI chipmaker atop a growing array of competitors.
The current Canada Revenue Agency (CRA) crackdown on Canada’s growing army of gig workers has gone beyond Uber drivers, contractors, consultants, handy-people and freelancers.
The U.S. Trade Representative’s office said late on Thursday it had begun Section 301 unfair trade practices probes of 60 economies in relation to what it called failures to take action on forced labor.