O Ibovespa (IBOV) surpassed 109 thousand points this Tuesday (9), with Itaú Unibanco (ITUB4) among the main supports, but the buyer’s breath lost strength amid profit-taking movements.
At around 2:10 pm, the main stock index fell by 0.26%, to 108,100 points.
Investors also reflected on the minutes of the last Copom meeting, which raised the Selic rate to 13.75% per year, with economists drawing attention to the Central Bank’s (BC) signaling that the rate should remain in significantly contractionary territory for a period of time. long enough.
In the view of Bradesco’s Economics Department, the BC ended the high cycle at 13.75% and the basic interest rate should remain at this level until mid-2023, according to a report.
Another data on the radar of financial agents in this session, the IPCA fell by 0.68% in July, the first monthly deflation since May 2020, helped by the drops in fuel and electricity prices after government measures. The index accumulated in 12 months is now at 10.07%.
In the view of Felipe Sichel, partner and chief economist at Banco Modal, the inflationary scenario will remain benign for the month of August, given the cut in gasoline prices at the end of July.
However, he assesses that the dynamics of the labor market and the new round of fiscal stimulus represent upward risks in the medium term, although counterbalanced by both the recent dynamics of commodities and the monetary tightening, according to a comment sent to clients.
On Wall Street, the S&P 500 fell 0.5%, in a session pressured by corporate news, as investors await figures on the behavior of consumer prices in the United States expected for Wednesday.
In a context in which investors are looking for signs about the pace of monetary tightening by the Federal Reserve (Fed), Dennis Esteves, an equity specialist at Blue3, said that the data may provide some clarity on the path of interest rate increases by the BC. North American.
“The question that hangs over the markets is whether peak inflation is already in the rearview mirror,” he said, adding that the Fed has made it clear that it should only ease interest rate hikes when price indices show strong signs of retreat or slowdown.
*With information from Reuters
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Source: Moneytimes
I am an author at Global happenings and I mostly cover automobile news. In my time working in the automotive industry, I have developed a keen interest in the latest developments and trends. My writing skills have also allowed me to share my knowledge with others through articles and blog posts.
