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4 Hot TSX Stocks to Buy in August

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The market has started to plateau in recent weeks after a rally that was almost as quick as the market crash that preceded it. Investors have observed the impacts of each TSX stock and have tried to look forward, despite all the uncertainty.

It makes sense that after a few months the market starts to plateau, since most stocks have reached what the market thinks is their new fair value. However, now that it’s generally moving sideways, there are great opportunities to buy stocks that are undervalued stocks in august offer significant potential.

So, if you are planning to buy stocks in August, I’d start with these four considerations first.

TSX utility stock

The first stock to consider owning is one of the top utility companies on the TSX, Emera (TSX:EMA).

Utility stocks are ideal businesses to own in market crashes and recessions. Emera is no different.

The company gets almost all of its revenue from regulated utilities and has operations in numerous jurisdictions, which helps to reduce risk. The highly defensive service it offers and regulated revenue are what make it such a great stock to own during times of turmoil. And long term, Emera will continue to grow both its share price and the dividend. That dividend currently has a 4.5%, which is a pretty juicy yield for a utility.

There aren’t too many stocks you can rely heavily on during this uncertain period. However, Emera is one of them.

TSX gold stock

Another stock to consider would be a gold miner like Yamana Gold (TSX:YRI)(NYSE:AUY).

Gold stocks are great investments during times of economic despair. With all that’s going on these days, it’s not surprising at all that gold prices and gold stocks have seen such rapid appreciation. The safe-haven aspect and hedge against inflation are exactly what investors are looking for right now.

Yamana, specifically, is one of the best options for investors buying today. The company has a consistent track record and operates in mining-friendly jurisdictions. Yamana shares have seen a positive increase from gold’s run-up in price. This has led to a significant share price increase as well as four dividend increases in just the last five quarters, totaling a 250% increase.

Silver stock

Of course, if the environment is good for gold, that almost always means it’s good for silver. Silver tends to lag behind gold, but when it rallies, it does so at much faster rates. That’s exactly what we’ve begun to see in the last few weeks, which may make August the perfect month for investors to buy TSX silver stocks.

There aren’t a whole lot of silver stocks to choose from, but one of the best choices to consider is First Majestic Silver.

First Majestic operates strictly in Mexico, the world’s largest silver-producing country. It also has the highest percentage of its revenue tied to silver prices. That alone is what makes First Majestic so attractive, as it will see some of the biggest gains from rising silver prices.

In just the last two weeks, the stock has already gained roughly 30%, and it looks like First Majestic may still have a long way to go.

Real estate stock

Real estate has been one of those industries that have seen the biggest variation of impacts. Some sub-sectors, such as retail, have seen significant negative impacts on business. Others, like residential real estate, have seen only minor increases on their business.

Then there are the industrial REITs such as Granite Real Estate Investment Trust, which have seen a significant boost to business as a result of the coronavirus pandemic.

The rapid shift to online shopping by so many in this pandemic has made warehouse space a major priority. These online businesses all need somewhere to store their inventory.

Granite is the perfect TSX stock to take advantage of this trend.

Bottom line

The new normal is here to stay for a considerable amount of time, and the best investors will be those who can adapt early and find the best investments.

These are some of the top companies to buy in our environment today. So, if you’re considering buying TSX stocks in August, I’d start with these four businesses first.

Speaking of the best stocks to buy in August…

 

Source: – The Motley Fool Canada

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Confusion and anxiety reign for Canadians dependent on CERB as pandemic program winds down – CBC.ca

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Roger Wiebe is one of millions of Canadians who has been hit hard by the COVID-19 pandemic, despite never contracting the virus.

The Edmontonian was working in a medical supply warehouse when he lost his job after the pandemic struck. He qualified for the Canada emergency response benefit (CERB), the income support program the government rolled out during the pandemic to help people like him with payouts of up to $2,000 a month.

But that program is set to expire on Sunday. Which brings new anxieties and uncertainties.

He and his wife Kim, a legal assistant, used to earn around $6,000 a month combined, but she lost her job in February as work slowed before the pandemic struck, so she applied for employment insurance (EI). That ran out in August, when she was moved to CERB. The couple has relying on government programs and food banks of late.

On top of the financial stress, his wife recently had one of her legs amputated below the knee. 

“I’m really I’m trying to stay stable  … for my wife … because she’s going through a lot of emotional as well as physical pain due to the amputation,” Wiebe said in an interview. “I’m trying to be a rock for her, but it’s a lot of stress and emotional fatigue on me as well.”

CERB has kept them afloat, but now with rent and bills piling up and the job market looking no better than before — he says and his wife have filled out 150 job applications since the pandemic began — he’s worried.

Despite the end of CERB, the government says people like Wiebe won’t be left in a lurch. That’s because most people who were on the program will be rolled into an expanded EI if they meet the qualifications, which have been expanded to include more people than usual.

And almost everyone else, Ottawa says, is likely covered by another new income support programs in the works, the Canada response benefit (CRB), which is designed to cover gig, freelance and contract workers who don’t qualify for EI.

That was previously slated to pay $400 a week, but the Liberals bumped the amount up to $500 after Thursday’s throne speech.

Roger Wiebe says once the the taxi ride to his wife’s doctor’s appointment is paid next week, he’ll be down to his last $7. (Trevor Wilson/CBC)

“That may seem like a small change, but there’s actually two million people … that will benefit from this change,” said David MacDonald, chief economist at the Canadian Centre for Policy Alternatives, a progressive think-tank.

Thats the good news. But MacDonald says the current EI plan could still leave more than a million people worse off than where they were under CERB. 

By his math, roughly 700,000 people who lost work in the pandemic but managed to take in some paid work will find themselves getting less in benefits.

And MacDonald said there’s a whole other group of roughly 400,000 low income, primarily part-time workers, who will still be making less than they would have been if the government simply extended CERB if they are lucky enough to get back to their regular hours.

Transferring between programs ‘a messy process’

There’s also the problem that whether you are transferred seamlessly from CERB to EI depends on how you applied for it. If you applied for CERB through Service Canada, the government says it will happen automatically. But if you applied through the Canada Revenue Agency, you’ll have to begin a formal application for EI, which can take time.

MacDonald estimates about 900,000 people will qualify for the new CRB. But since none of the programs have been officially created and passed through Parliament yet, there’s uncertainty everywhere.

“The websites aren’t up and running in terms of where people would apply, how they apply, how they find out their status and so on,” MacDonald said.  “There are four million people who are on CERB and will likely go through this transition [so] where they should go and where they should apply to is … going to be a messy process.”

Wiebe says he has heard that it can take between six and eight weeks to get a first EI payment. “If that’s the case, I’m not sure what we’re going to do because we can’t go eight weeks with no income,” he said.

Sarah Pacey received CERB after she lost her job while on maternity leave. With the program now ending, she is worried about slipping through the cracks. (Turgut Yeter/CBC)

Sarah Pacey is another CERB recipient who’s worried about the future.

She went on maternity leave from her job providing in-home behaviour therapy for autistic children in June of 2019, but her publicly funded employer lost funding last December. She was laid off while on maternity leave. 

When her mat leave expired in June 2020 she applied for CERB.

“With that ending, I’m a little bit just unsure about where I am now,” said Pacey, who lives in Toronto.

She has pored over the government website explaining EI, but since payouts are based on the amount of paid work you’ve done over the past year, “it doesn’t seem like I really qualify for any of those programs,” she said.

Government confident no one will be left behind

In announcing the changes, Employment Minister Carla Qualtrough said the government is confident that people like Pacey and Wiebe don’t need to worry.

“I think we’ve created … a much more elegant balance between the need to not disincentivize work, but also support people who, regardless of effort, still aren’t working or have significantly reduced hours,” she said.

WATCH | Carla Qualtrough on the transition from CERB:

Employment Minister Carla Qualtrough says three quarters of Canadians who are currently on CERB will be able to transition seamlessly to EI in the next few weeks. 1:29

The government said in a statement that anyone currently on CERB will be eligible for their first EI payment as of Oct. 11. “Over 80 per cent of eligible Canadians are expected to receive their payment by Oct. 14 — three days after becoming eligible, and over 90 per cent are expected to be paid within three to 14 days.”

Wiebe is fairly confident that he will still qualify for some sort of support program, but his wife may not. Once the couple’s $1,575 in rent and more than $500 a month in medical expenses are factored in, there will be little left for utilities and food.

The couple’s October rent has been paid. But once they take a $20 cab ride to his wife’s doctor’s appointment next week, Wiebe said he will be down to his last $7.

“They talk about the hardships and how they understand it,” he says of the government’s assurances. “But until you’ve actually lived it, you don’t truly grasp it.”

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J&J Coronavirus vaccine candidate – induced immune response, showed acceptable safety profile – ForexLive

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Johnson & Johnson’s experimental Covid-19 vaccine phase 1/2 trial findings have provided some encouragement.

  • induced immune responses in most people who received the shot
  • displayed an acceptable safety profile

Now for some caveats. These are from a small early-stage trial. They are interim, posted on online preprint server medRxiv. The report is not yet peer-reviewed, not yet published in medical journals.

J&J have said that they’ll now carry on with a larger late-stage study of up to 60,000 people that will provide more definitive evidence.

The link above has more, its the Journal so it may be gated. CNN has an ungated report at this link if you prefer. 
  • The vaccine — called Ad26.COV2.S — uses the same technology used for Johnson & Johnson’s Ebola, Zika, HIV and RSV vaccines.

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COVID-19 pandemic taking toll on mental health, Alberta survey says – CBC.ca

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An online survey of Albertans who reached out for help over COVID-19 suggests the pandemic is taking a toll on mental health, with increased signs of obsessive behaviour, stress and depression.

Vincent Agyapong, a professor of psychiatry at the University of Alberta, has just published results of a survey he took of people who subscribed to Text-4-Hope, a government service that provides a daily reassuring text message.

He found abut 60 per cent of respondents had become worried about dirt, germs and viruses since the COVID outbreak.

About 54 per cent had begun washing their hands “very often or in a special way,” which could be considered a symptom of obsessive compulsive disorder.

Nearly 50 per cent were considered likely candidates for anxiety disorders, and more than 40 per cent were likely clinically depressed.

And almost 85 per cent of respondents reported moderate to high stress.

Agyapong cautions the sample isn’t representative and that some level of stress and unusual behaviour is understandable in the current situation.

But he says his findings suggest the pandemic is affecting the public’s mental health.

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