The Best Stocks to Invest $1,000 in Right Now
The stock market has been recovering slowly but steadily in 2023 after last year's battering. This is evident from the 7% gains that the S&P 500 has logged so far this year despite facing multiple headwinds -- such as the banking crisis in the U.S., the debt ceiling, and the potential for a recession.
However, this year's stock market recovery is not without reason. Cooling inflation, the Federal Reserve's decision to slow the pace of rate hikes, and hot trends such as artificial intelligence (AI) seem to have encouraged investors to park their funds in stocks once again. And that seems to be the right thing to do, as the stock market has historically averaged robust returns despite periods of volatility.
So if you have $1,000 to spare right now, which means that your bills are paid, you have enough savings for a rainy day, and there is no high-interest loan to service (such as credit card debt), it may be a good time to use that money to buy some top companies that could deliver healthy returns in the long run.