Stock Market News: MercadoLibre Starts 2020 Strong; Signet Loses Its Luster

Wall Street was in a good mood to celebrate the start of what many hope to be able to call the Roaring '20s, as stock market indexes continued to move higher Thursday morning and added to their gains from 2019. But some of the market's momentum faded as the morning went on. As of 11 a.m. EST today, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 127 points to 28,665. The S&P 500 (SNPINDEX: ^GSPC) gained 7 points to 3,238, while the Nasdaq Composite (NASDAQINDEX: ^IXIC) rose 48 points to 9,020.

Investors are busy trying to decide how to position their portfolios for 2020, and that had a lot of stock analysts offering their opinions. MercadoLibre (NASDAQ: MELI) got some favorable comments that spoke highly of the Latin American e-commerce specialist's payment platform, but Signet Jewelers (NYSE: SIG) had to deal with skepticism about the jewelry retailer's ability to weather tough conditions in its industry.

Shares of MercadoLibre climbed 5% on Thursday morning, adding even more gains to a stock that had already climbed more than 90% in the past year. Analysts at Citi mentioned the Latin American e-commerce giant obliquely, but it looks as if more investors paid closer attention to MercadoLibre than to its partner.

Continue reading

Source Fool.com