Even as the market turned sharply lower on Monday, shares of MercadoLibre (NASDAQ: MELI) charged higher, gaining as much as 6.1%. When the market closed, the stock was still up 4.8%. This came even as the S&P 500 fell 0.9% and the Nasdaq Composite slumped 1.5%.

There were a couple of catalysts that helped fuel the e-commerce and fintech specialist's rise, including Argentina's soccer World Cup win and a decision by Brazil's Supreme Court that will benefit the country's poor.

Brazil's Supreme Court granted a temporary injunction that allowed President-Elect Luiz Inacio Lula da Silva to continue welfare payments to low-income Brazilians. This was a victory for the incoming president, allowing him to deliver on a key campaign promise. 

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Source Fool.com