2025 Stock Market Outlook: Stan Wong’s Top Three Picks
Stan Wong Shares Top Picks and Market Insights for a Strong 2025 Portfolio

Stan Wong, portfolio manager at Scotia Wealth Management, has kicked off the new year with a positive outlook on North American equities. According to Wong, the U.S. economy is currently enjoying a "Goldilocks" phase, where steady GDP growth, cooling inflation, and a strong labor market create the perfect conditions for continued stock market gains. He anticipates this environment will drive corporate earnings higher, with the S&P 500 expected to see 12% growth in 2025 and 2026.
Investment Strategy: Balancing Growth and Stability
Wong's team focuses on identifying high-quality, growth-oriented companies across key sectors, including healthcare, technology, financials, and consumer staples. Their allocation strategy leans heavily toward U.S. equities, which make up 70% of their portfolio, while the remaining 30% targets Canadian markets. This diversified approach seeks to balance risk and reward, ensuring steady returns amid potential market fluctuations.
Sector Spotlight: Financials and Technology Leading the Way
Wong highlights the financial and technology sectors as prime opportunities for 2025. His top picks showcase a blend of stability and innovation, offering investors a chance to capitalize on favorable economic conditions.
Top Picks for 2025
Financial Select Sector SPDR Fund (XLF NYSE)
Wong's first pick, the Financial Select Sector SPDR Fund, provides exposure to a diversified portfolio of U.S. financial services companies, including giants like JPMorgan Chase, Visa, and Bank of America. As the U.S. economy heads toward a soft landing, Wong expects declining interest rates to boost demand for loans, benefiting the financial sector. Furthermore, the incoming Trump administration's pro-business policies and deregulation could enhance profitability and spur merger activity, driving additional revenue for financial institutions.
Nvidia (NVDA NASD)
Nvidia, a leader in AI-driven technology, is another standout in Wong's portfolio. With over $129 billion in projected revenue for fiscal 2025, Nvidia dominates the AI GPU market with a 90% share. Wong believes the company’s robust position in gaming, data centers, and autonomous vehicles will fuel nearly 50% earnings growth in the coming years. Trading at a favorable 0.7 PEG ratio, Nvidia remains an attractive pick for investors seeking exposure to the technology sector.
UnitedHealth Group (UNH NYSE)
UnitedHealth Group, a leader in healthcare, rounds out Wong’s top picks. As the largest private health insurer in the U.S., UnitedHealth is well-positioned to benefit from rising healthcare costs and an aging population. Despite a 19% dip from recent highs following the sudden passing of its CEO, Wong sees long-term value in this defensive stock, which boasts a forward price-to-earnings ratio of 18 and projected revenue exceeding $442 billion in 2025.
Conclusion
Stan Wong’s top picks for 2025 reflect a calculated blend of growth potential and defensive strength. By focusing on high-quality companies within resilient sectors, Wong’s strategy offers investors a roadmap for navigating the evolving market landscape. With favorable macroeconomic conditions and strong corporate earnings on the horizon, his outlook for North American equities remains bullish.
