The S 500 currently trades at 17.7 times forward earnings. That's below the five-year average of 18.7 times forward earnings and roughly in line with the 10-year average. That metric suggests there are reasonably priced equities to be found throughout the market. It also suggests now is a good time for patient investors to buy stocks.

Personally, I'd split $2,000 between Snowflake (NYSE: SNOW) and (NASDAQ: MELI) without hesitation. Here's why these two monster growth stocks are worth buying.

More and more businesses now depend on dozens (even hundreds) of software products that run across several cloud platforms, scattering data across disparate systems and infrastructures. Snowflake helps its customers organize and make sense of that data, and it does so while consolidating workloads that have traditionally required a patchwork of tools.

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Source Fool.com