Surfing the wave of optimism abroad, the Ibovespa (IBOV) engaged in a new strong high session this Friday (2). The index, which is a benchmark for the Brazilian Stock Exchange, jumped 1.8% to 112,558.15 points. As a result, the Ibovespa ended the week with an accumulated appreciation of 1.49%.
Us U.Sthe issue of the country’s debt ceiling had a development: the Senate passed the bill to lift the debt ceiling of US$ 31.4 trillion, avoiding fears of default.
In addition, the Labor Department’s employment report showed that the US unemployment rate stood at 3.7% in May, against a forecast of 3.5%.
The data helped to improve the mood of the markets, which started to consider a less restrictive posture from the Federal Reserve (Fed) against US interest rates. Investors are considering the possibility that the country’s central bank will skip an interest rate hike at its next meeting, scheduled for this month.
In contrast, the US created 339,000 jobs job in May, above market expectations for the creation of 200,000 jobs.
April employment data was also revised upwards, showing the creation of 294,000 jobs, compared to 253,000 jobs in the original reading.
In Brazil, industrial production fell by 0.6% in April and decreased by 2.7% compared to the same period last year. In relation to March, there was a deceleration on the part of the sector compared to the increase of 1% in the previous month.
GET TO KNOW THE LIVE Giro do Mercado: From Monday to Friday at 12:00 pm, we will be LIVE on the Money Times Youtube channel, bringing you the hottest news of the day and valuable insights for your investments. We wait for you!
https://www.youtube.com/watch?v=videoseries
ups and downs
The shares of OK (VOUCH3) were an important support for the Ibovespa in the trading session, with the mining company’s shares jumping more than 4%, as the markets weigh the news that the China studies to launch additional stimuli to the real estate after weaker economic data.
The papers of Petrobras (PETR4) rose 0.82%, in the wake of rising oil prices abroad.
already the Cosan (CSAN3) jumped 7.9%. BTG Pactual reiterated its buy recommendation for the shares, assessing that the stock is “close to a turning point”.
On the low side, Magazine Luiza (MGLU3) lost 4.68% after JP Morgan cut the stock rating. A Via (VIIA3) fell 10.36%, experiencing the same downgrade.
And the totvs (TOTS3) retreated 4.19%, with UBS BB withdrawing its buy recommendation for the shares.
Source: Moneytimes
I am an author and journalist with a focus on market news. I have worked for a global news website for the past two years, writing articles on a range of topics relating to the stock market. My work has been published in international publications and I have delivered talks at both academic institutions and business conferences around the world.
