Top Picks from Michael Hakes, senior portfolio manager, Murray Wealth
Michael Hakes, senior portfolio manager at The Murray Wealth Group, discusses his outlook for the markets.We have had lots of earnings and economic data over the last week or so that supports a soft landing or no landing scenario. For the U.S., the Federal Reserve mandate of maximum employment and stable prices seems to be on track.
In terms of inflation, consumer price index on Thursday came in line with expectations at 2.1 per cent year-over-year. Gross domestic product came in just a bit weaker than estimates. 2.8 per cent versus three per cent expected. The current store growth plan is to open about eight to 10 stores per year in the U.S. There is a chance that it might increase this opening plan over the next year or so. The new stores in the U.S are doing very well with a payback period for new stores coming in better than plan.
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