The Ultimate Growth Stocks to Buy With $1,000 Right Now
The stock market has rallied impressively in 2023 thanks to multiple factors such as cooling inflation, the Federal Reserve's pause on interest rate hikes, a robust U.S. economy, and a solid job market, all of which explains why the Nasdaq Composite index has shot up an impressive 41% this year.
The good news is that the stock market is expected to head higher in 2024, especially as the Fed is anticipated to cut interest rates three times next year. Bloomberg, for instance, forecasts that the S 500 index could hit record highs in 2024. A lower interest rate environment bodes well for growth stocks, which struggled last year when the Fed was continuously increasing rates.
Lower interest rates will allow growth-oriented companies to get access to capital at a lower cost, while also increasing the value of their future cash flows. That's why if you have $1,000 in investible cash after paying off your bills, clearing any high-interest debt, and saving enough for difficult times, it could be a good idea to put that money into the following growth stocks that could deliver healthy returns in 2024 and beyond.
Source Fool.com
