Why MercadoLibre, CenturyLink, and Goldcorp Jumped Today

Wall Street reacted favorably to the latest news from the Federal Reserve on Wednesday, and the Dow Jones Industrials jumped to yet another record with a triple-digit advance. As expected, the Fed raised short-term interest rates by a quarter percent to a new range between 1.25% and 1.5%, and with Chair Janet Yellen giving way to her predecessor, the central bank suggested that it would likely make three further interest rate increases in 2018. That sat well with investors generally, and good news from some individual companies also helped bolster market sentiment. MercadoLibre (NASDAQ: MELI), CenturyLink (NYSE: CTL), and Goldcorp (NYSE: GG) were among the best performers on the day. Below, we'll look more closely at these stocks to tell you why they did so well.

Shares of MercadoLibre climbed 8% after getting a favorable write-up from a major stock analysis company. Analysts at Piper Jaffray were positive on the Latin American e-commerce giant, repeating their prior stock rating of overweight but boosting their price target by more than 20% to $330 per share. MercadoLibre has shown solid fundamental progress as the Latin American economy has rebounded lately, and continued encouraging performance from key commodity markets that form the backbone of many national economies across the region could continue to bode well for a rising consumer class and its ability to fuel e-commerce growth.

Image source: MercadoLibre.

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Source: Fool.com