Markets

Stock Market Today: Tech Stocks Keep Raising the Ceiling

The Nasdaq Composite notches a record close Tuesday as tech-sector names including Apple (AAPL), Microsoft (MSFT) and Facebook (FB) set new highs.

Market data overshadowed medical data Tuesday as stocks made their way higher, and the Nasdaq hit fresh all-time highs, again on the back of the relentless technology sector.

The preliminary IHS Markit purchasing managers' index reading climbed from 37.0 in May to 46.8 in June still an indication of contraction in services and manufacturing output, but at a far slower pace. And May new-home sales improved 16.6%, to a 676,000 annual rate, to easily exceed expectations.

That overshadowed an increasingly worrisome COVID-19 picture, with 29 states reporting increases in infections. That includes Texas, where Gov. Greg Abbott said yesterday that "additional measures are going to be necessary" if the state doesn't buck its current trend.

Still, the Nasdaq climbed 0.7% to a new peak of 10,131 thanks to continued help from big-tech stalwarts Apple (AAPL, +2.1%) and Microsoft (MSFT, +0.7%), which both set record highs. The pair also helped the Dow climb 0.5% to 26,156.

The S&P 500 finished up 0.4% to 3,131, and the Russell 2000 improved at the same rate, to 1,439.

Apple and Microsoft were hardly alone. Several of the Nasdaq's top stocks notched new all-time highs today as well, including Facebook (FB, +1.3%) and Peloton (PTON, +3.5%).

The composite has been led by a massive run in technology and tech-esque industries that has put it well ahead of its blue-chip peers. The Nasdaq, which didn't dip as deep into the March bottom, has nonetheless been the biggest gainer during the rebound, up 48% versus 40% for the S&P 500 and 41% for the Dow.

That said, many other markets around the world are mounting their own comeback bids of late, including potentially growthy (but certainly volatile) emerging markets.

The iShares MSCI Emerging Markets ETF (EEM) – a broad (albeit China-heavy) collection of emerging-markets stocks – is up 33% since late March. The VanEck Vectors Russia ETF (RSX) has jumped 42% in that time, while the iShares MSCI Brazil ETF (EWZ) has surged by more than 46%.

Read on as we look at 11 stocks across the globe in countries such as China, Brazil and Mexico that are gathering momentum and could continue to charge ahead.

Most Popular

Your Guide to Roth Conversions
Special Report
Tax Breaks

Your Guide to Roth Conversions

A Kiplinger Special Report
February 25, 2021
7 Best Commodity Stocks to Play the Coming Boom
commodities

7 Best Commodity Stocks to Play the Coming Boom

These seven commodity stocks are poised to take advantage of a unique confluence of events. Just mind the volatility.
September 8, 2021
Stock Market Holidays in 2021
Markets

Stock Market Holidays in 2021

Is the stock market open today? Take a look at which days the NYSE, Nasdaq and bond markets take off in 2021.
September 2, 2021

Recommended

China's Evergrande Crisis: A Real Threat to U.S. Stocks?
Foreign Stocks & Emerging Markets

China's Evergrande Crisis: A Real Threat to U.S. Stocks?

A looming debt default by Chinese real estate titan Evergrande is sparking fears of global contagion and knocking stocks from their perches.
September 20, 2021
These 2 Emotional Biases Could Kill Your Retirement
Investor Psychology

These 2 Emotional Biases Could Kill Your Retirement

Are your emotions sabotaging your retirement plans? Some basic knowledge and careful introspection can go a long way toward avoiding major pitfalls.
September 20, 2021
Investment Strategies for the 4 Stages of the Economic Cycle
Markets

Investment Strategies for the 4 Stages of the Economic Cycle

The U.S. economy is cyclical in nature, surging ahead and pulling back in waves over time. Investors’ portfolios need to change with the rise and the …
September 19, 2021
Kiplinger's Weekly Earnings Calendar
stocks

Kiplinger's Weekly Earnings Calendar

Check out our earnings calendar for the upcoming week, as well as our previews of the more noteworthy reports.
September 17, 2021