After disappointing investors for years, EMs are finally showing signs of life this winter.

Brazilian stocks are set open at the highest level in several months Monday following a decisive victory for free-market proponent Jair Bolsonaro in yesterday's Presidential elections that could trigger moves to privatize some of Latin America's biggest companies amid broader economic reforms.

Investors may have believed that the stock of EWZ had recently made a bullish double-bottom technical chart pattern, as well has had the foresight to believe any change in the country's politics may be a boost to the local economy.

Emerging markets have been awful performers in 2018, but that could be about to change.

"We think we're well positioned for growth in fiscal year 2023 ... having said that, we did take a cautious approach to Greater China," said CFO Matthew Friend.

The manufacturer of premium and high-end electric vehicles became the most profitable American carmaker in the first quarter of 2022.

"As a result of market instability ... no third party has been able to make an offer that adequately reflects the high potential value of Boots," Walgreens said.