Why Amazon, MercadoLibre, and Roku Stocks Moved Higher on Friday

There's little question that the first half of 2022 was brutal for investors, ending with both the S&P 500 (SNPINDEX: ^GSPC) and the Nasdaq Composite Index (NASDAQINDEX: ^IXIC) in bear market territory. Yet even as the broader market slipped further on Friday, investors were beginning to cherry-pick companies that they believe will provide upside over the longer term, causing some stocks to buck the trend.

Against that declining backdrop, shares of Amazon (NASDAQ: AMZN) gained as much as 2.4%, MercadoLibre (NASDAQ: MELI) climbed as much as 4.6%, and Roku (NASDAQ: ROKU) surged as much as 5.3%. As of 12:42 p.m. ET, they were still trading higher, up 1.7%, 1.8%, and 2.2%, respectively.

With the first half of 2022 in the rear-view mirror, many investors have been taking stock of their portfolios, and what they are seeing might at first glance seem distressing. The S&P 500 closed out June down 20% year to date, while the tech-heavy Nasdaq is down 30%. The combination of rampant inflation, lingering supply chain disruptions, and the war in Ukraine has resulted in widespread economic uncertainty.

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Source Fool.com