4 Top Growth Stocks to Invest in Right Now
StockNews
Published Nov 23, 2021 12:17PM ET
Updated Nov 23, 2021 01:31PM ET
4 Top Growth Stocks to Invest in Right Now
Growth stocks are expected to maintain their uptrend in the coming months, fueled by high consumer spending and favorable fiscal policies. Thus, we think renowned stocks TotalEnergies (TTE), Nucor Corporation (NYSE:NUE), Ulta Beauty (NASDAQ:ULTA), and Steel Dynamics (NASDAQ:STLD), each possessing impressive growth attributes, could be solid bets now. Let’s discuss.Growth stocks tend to outperform the broader markets during periods of economic recovery. This is evident in the SPDR Portfolio S&P 500 Growth ETF’s (SPYG) 30.3% returns year-to-date, versus the benchmark S&P 500 index’s 24.7% gains over this period. Strong consumer spending and favorable government policies have helped growth stocks to rally so far this year as the global economy bounced back from its pandemic-led recession.
However, most European countries are now re-imposing travel restrictions in the wake of a resurgence of COVID-19 cases. This raises concerns regarding the global economy's recovery. However, the White House has been clear that it has no plans to shut down the economy because 82% of the U.S. population is vaccinated. This, coupled with the recently passed landmark infrastructure bill, should allow the U.S. economy to expand steadily in the coming months.
The conducive macroeconomic backdrop should allow growth stocks to generate momentum in the coming months. Thus, we think fundamentally-sound growth stocks TotalEnergies SE (TTE), Nucor Corporation (NUE), Ulta Beauty, Inc. (ULTA), and Steel Dynamics, Inc. (STLD) could be profitable bets now.
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