Stock Picks: TSM, TGT, PYPL

"PPI report yesterday and CPI report today came in higher than expected and Core CPI continues to accelerate to new highs not seen in 40 years and now rate hikes expected to be 75 basis points in November and December meetings, getting us to 4.5% to 4.75%. Market clearly does not like the report, but the silver lining is Headline CPI continues to decline albeit some stickiness in various components. Earnings reports are starting with major banks beginning tomorrow so we’ll get some clarity on the companies outlooks. We believe the market will continue to be choppy into year end but valuations remain attractive with quality companies being oversold which will set us up well into 2023," says Tyler Ellegard. Ellegard then provides his stock picks: Taiwan Semiconductor (TSM), Target (TGT), and PayPal (PYPL).