Here's Where to Invest $1,000 Right Now
Analysts at Bank of America recently updated their projections for the S&P 500 this year, calling for the benchmark to be at 3,600 at the end of the year. While past projections called for an increase in the second half of the year, this new estimate would see the market drop another 5% by end of 2022.
Analysts also see the economy potentially heading toward a recession later this year, as the Federal Reserve adopts an aggressive interest rate-raising posture to quell inflation. Given these concerns, it is difficult for investors to know where to turn. You could certainly use the downturn to scoop up cheap beaten-down growth stocks, but with the bottom apparently not yet in sight, a better approach might be to invest in some stocks that can balance out the losses. If you have $1,000 to invest right now, here is a good, safe option.
With such uncertainty in the market, a diversified exchange-traded fund (ETF) is a great option right now, particularly one built to navigate volatility, generate dividend income, and thrive in a rising interest rate environment. The one ETF that fits the bill is the Invesco S&P Ultra Dividend Revenue ETF (NYSEMKT: RDIV).
Source Fool.com
