With the markets starting this week off with a bang and pushing higher at the time of writing, it seems like a good time to consider where any additional cash you might hold might best find a new home. After all, your bank account isn’t a great place to store money these days.
So with that in mind, here’s where I’d consider investing $20,000 in ASX shares today.
Afterpay Ltd (ASX: APT)
Despite the markets pushing higher today, the Afterpay share price has dropped 0.37% at the time of writing, asking $29.79. It seems investors weren’t wild about the company’s plans to ‘take it slow’ with its European expansion strategy.
Unlike the market it seems, I think this is a good move for the company and shows they have considered this position carefully rather than going in guns blazing. Thus, it’s perhaps a good time to take advantage of this pricing drop on APT shares, especially whilst the broader market is bullish.
Commonwealth Bank of Australia (ASX: CBA)
CBA shares have opened higher this morning and are going for $79.10 at the time of writing, which I think is a good price to be considering CBA today. CommBank is (in my opinion) the best ASX bank going today. It’s the only one of the ‘big four’ that hasn’t slashed its dividend returns for its shareholders during 2019, and today is offering a starting yield of 5.46% (or 7.79% grossed-up).
Further, it doesn’t seem like CBA will have to follow its on-the-nose cousin Westpac Banking Corp (ASX: WBC) and undertake a capital raise in the near future. Thus, as a solid income share, I think CBA is looking good today.
Sydney Airport Holdings Pty Ltd (ASX: SYD)
Sydney Airport finished up last week at a new all-time high – which SYD shares have beaten again this morning at $9.30 per share, although they have since dipped slightly to be trading for $9.09 per share at the time of writing. Despite the highs, I still think there is a lot to like about this company. SYD shares arguably offer one of the most reliable dividends on the market, which even at today’s levels is still offering investors a 4.24% dividend yield.
Passenger volumes and tourist numbers continue to grow at the country’s largest airport, and with our dollar at historically low levels, I don’t see this ebbing anytime soon. Thus, I think Sydney Airport is another solid option to consider for share market income today.
These 3 ASX companies show that there is still value to be had on the ASX today, even as the markets push higher. SYD is my pick for income investors today, but if you’re more growth inclined, Afterpay is a perennial favourite too!
The post Where I’d spend $20,000 on ASX shares today appeared first on Motley Fool Australia.
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Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO. The Motley Fool Australia owns shares of and has recommended Sydney Airport Holdings Limited. 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.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019