Stock Market Today: Markets Settle Down, But Backdrop Remains Rosy

The IMF upgraded its U.S. and global growth forecasts, and another jobs datapoint impressed, but stocks mostly spent Tuesday treading water.

Sailboat on calm water
(Image credit: Getty images)

Monday's blowout session that sent the Dow Jones Industrial Average and S&P 500 to new heights was followed by much calmer, more horizontal, trading on Tuesday.

But it wasn't for a lack of additional positive ammunition following Friday's blockbuster jobs report.

This morning's Job Openings and Labor Turnover Survey (JOLTS) was another window into an improving employment situation, showing that U.S. job openings hit a two-year high in February. Also, the International Monetary Fund (IMF) upgraded its 2021 outlook for both U.S. economic growth (from 5.1% to 6.4%), and global economic expansion (from 5.5% to 6.0%).

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Still, the major indices spent Tuesday digesting the prior session's gains; the Dow slipped 0.3% to 33,430, the S&P 500 was off 0.1% to 4,073, and the Nasdaq Composite was marginally off to 13,698.

Recovery-oriented stocks were among the day's individual winners, especially those in the restaurant industry. Yum Brands (YUM (opens in new tab), +3.1%), Domino's Pizza (DPZ (opens in new tab), +2.4%) and Chipotle Mexican Grill (CMG (opens in new tab), +2.4%) all finished solidly in the black.

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Other action in the stock market today:

  • The small-cap Russell 2000 declined by 0.3% to 2,259.
  • U.S. crude oil futures improved by 1.2% to $59.33 per barrel.
  • Gold futures also were higher, by 0.8%, to $1,743 per ounce.
  • Bitcoin prices closed 1.3% lower to $58,242. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m. each trading day.)

stock chart for 040621

(Image credit: YCharts)

E-Commerce Can Still Get It Done

As great as "reopening plays" have been of late, don't fall into the trap of thinking that all of 2020's COVID-assisted trends are duds.

Take e-commerce, for instance.

While you might imagine a vaccinated America abandoning its keyboards for the malls, the smart money recognizes that COVID only further entrenched the already growing digital-spending trend, and they see further promise even as more people get ready to go out.

"The convenience offered by eCommerce will continue to be an important consideration to consumers as they return to travel and social activities, and those people who tried shopping online for the first time during COVID are likely to continue using these services with greater frequency moving forward," says a team of Canaccord Genuity analysts.

Many of the best individual plays are the very same stocks that enjoyed a COVID lift, and some are considered among the market's most innovative companies -- an important quality that can drive outsized long-term returns.

But if you're hesitant to put all your chips on one or two individual names that could get choppy over the short term, we don't blame you, and we have a solution: e-commerce funds. Read on as we highlight nine e-commerce ETFs that leverage the growth in digital spending in a variety of ways, and explain how each one might suit different individual investors' tastes.

Kyle Woodley
Senior Investing Editor, Kiplinger.com

Kyle is senior investing editor for Kiplinger.com. As a writer and columnist, he also specializes in exchange-traded funds. He joined Kiplinger in September 2017 after spending six years at InvestorPlace.com, where he managed the editorial staff. His work has appeared in several outlets, including U.S. News & World Report and MSN Money, he has appeared as a guest on Fox Business Network and Money Radio, and he has been quoted in MarketWatch, Vice and Univision, among other outlets. He is a proud graduate of The Ohio State University, where he earned a BA in journalism.