Yesterday, the United States Bureau of Labor Statistics reported that the November Producer Price Index (PPI) rose 0.4%, higher than analysts’ expectation of 0.2%. The PPI rose 3% year over year — the biggest increase since February 2023. Higher-than-expected inflation in the United States has weighed on the global equity markets, with the S&P/TSX Composite Index falling 0.96% yesterday. The ongoing geopolitical tensions and threats of tariffs are causes of concern.
Given the uncertain outlook, investors can strengthen their TFSA (Tax-Free Savings Account) by adding defensive stocks to avoid a decline in their contribution room in case of a steep correction. Against this backdrop, here are my three top picks.
Waste Connections
Waste Connections (TSX:WCN) is a waste management company that has expanded its footprint in the United States and Canada through organic growth and strategic acquisitions. Supported by its solid…
