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Greg Newman, director and associate portfolio manager, ScotiaMcLeod FOCUS: Canadian Dividend Stocks Market outlook: I believe that markets will remain skittish until we get clarity that China’s economy is stabilizing or that global growth is still holding up. Unless the economic data decelerates further, I do believe the fourth quarter may be less dramatic than the third as institutions have likely already taken out a lot of protection. Though it may take time, I believe this period of uncertainty will ultimately present another buying opportunity given that China has the firepower and motivation to right their ship. As well, in spite of what the Fed may do, interest rates remain low and stocks that pay dividends with dividend and earnings growth are still more compelling. This whole bull market has unfolded in the shadows of deflation and my belief is that this present period of fear will also pass. Top Picks Emera (EMA Installment Receipt) Manulife (MFC.TO) Algonquin Power & Utilities (AQN.TO) Click here for more information on Greg Newman's top and past picks |