Investing $500 in These 2 Top Growth Stocks Would Be a Brilliant Move
The U.S. stock market responded favorably to the Federal Reserve's decision to maintain the benchmark interest rate within the 5.25% to 5.5% target range. In the following press conference, Federal Reserve chair Jerome Powell also suggested the possibility of the central bank concluding the interest rate hike cycle. Furthermore, a weaker-than-expected October jobs report reduces the probability of the Fed increasing interest rates in the coming months.
All this has led to the benchmark S&P 500 gaining 5.8% last week and closing at 4,358.33 points -- the best weekly advance in 2023. As overall investor sentiment improves, the possibility of an upcoming bull market also increased dramatically. Hence, it makes sense for retail investors to start picking small stakes in attractive growth stocks.
If you have $500 that is not needed to pay bills or for other contingencies, investing it in companies like Palantir Technologies (NYSE: PLTR) and DigitalOcean (NYSE: DOCN) can prove to be a smart investment move.
Source Fool.com
