SNOW - A Bull Market Is Here: 2 Breakout Growth Stocks to Buy with $500
2024-02-14 05:10:00 ET
With the S&P 500 index breaking out to new highs in 2024, it's safe to say a new bull market has arrived. It's also safe to say that the usual suspects in technology are leading the market higher.
If you have an extra $500 available to invest that isn't needed to pay monthly bills or bolster an emergency fund, I believe you can't go wrong putting it toward Amazon (NASDAQ: AMZN) and Snowflake (NYSE: SNOW) stock. You can buy one share of each, as both stocks still trade below $500. Here's why these two leading tech stocks could deliver wealth-building gains to investors.
A new bull market often spells good news for the economy coming around the corner. Because Amazon is the e-commerce leader, its business is more tied to the health of the consumer than 10 years ago. But this is why accelerating growth in its online stores is good news for investors. Share prices of Amazon are up 66% over the last 12 months and broke out to reach new highs following its fourth-quarter earnings report on Jan. 30.
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A Bull Market Is Here: 2 Breakout Growth Stocks to Buy with $500