2 Growth Stocks to Invest $1,000 in Right Now

The stock market has recovered well in 2023 following last year's doldrums when surging inflation and the Federal Reserve's interest rate hikes led investors to press the panic button and move away from equities. The S 500 is up 18% this year, while the tech-laden Nasdaq Composite has delivered bigger gains of 34%. The good part is that this stock market rally seems to have legs thanks to a healthy jobs market, the receding probability of a recession, and a marked slowdown in inflation that could eventually lead the Fed to lower interest rates.

Shares of Apple (NASDAQ: AAPL) and (NYSE: SHOP) have benefited from the broader stock market surge, logging gains of 50% and 95% year to date. More importantly, both stocks seem capable of sustaining their rallies and delivering more upside to investors.

If you have $1,000 available to invest that isn't needed to bolster an emergency fund, pay off monthly bills, or pay down short-term debt obligations, you might want to put it toward purchasing shares of one (or both) of these stocks. Let's look at the reasons why such an investment could turn out to be a smart move right now.

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Source Fool.com