However, we could be at a turning point in global markets. OPEC+ have slashed their daily oil production by around 10%, while US markets stormed higher overnight on the back of optimism surrounding a possible conronavirus vaccine.
So, what’s a good way to invest some spare cash in the market right now?
How to invest $10,000 in ASX 200 shares today
I think it’s important to invest in high-quality companies for the long-term. However, I get that it’s not easy to just ignore all the short-term share price movements in the meantime.
I believe CSL Limited (ASX: CSL) could be a smart, long-term choice for investing $10,000 today. It’s the largest ASX 200 share by market capitalisation and is worth $139 billion right now. The biotech giant is looking to develop a potentially lifesaving plasma-derived treatment for people with COVID-19. Other than these short-term efforts, I also think CSL has a great business model overall.
It’s a leader in blood plasma treatment and biotechnology with a strong business moat. The CSL share price is trading at over $300 per share which is a testament to its long-term success since listing in 1994 at a stock-split-adjusted $0.766 per share. It’s hard to bet against the ASX 200 healthcare share given its track record and strong research and development pipeline.
CSL aside, I also like another Aussie large-cap share right now. Commonwealth Bank of Australia (ASX: CBA) shares have crashed lower in 2020 with investors selling off ASX bank shares in droves.
The CBA share price is down 24.97% since the start of the year thanks to the COVID-19 shutdown. There are fears for what the economic impact of the pandemic will be for Aussie businesses and their lenders. We’ve seen ASX 200 bank shares fall after announcing billions of dollars of impairments this year despite unprecedented government stimulus measures.
However, I think the CBA share price could be another way to successfully invest $10,000 today. The bank is a key pillar of the Aussie economy and could emerge with a refined business model and strong risk measures. This means CBA could be a leaner, stronger ASX 200 bank share that can churn out consistent profits in the decades ahead.
These 3 stocks could be the next big movers in 2020
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.
*Returns as of 6/8/2020
Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
- Why the Xero (ASX:XRO) share price can hit $100 again in 2020 – September 23, 2020 9:35am
- Is the Coles (ASX:COL) share price a buy after renewable energy deal? – September 23, 2020 8:38am
- 3 reasons I like the AGL Energy (ASX:AGL) share price today – September 23, 2020 8:19am