The Brazilian stock market, Ibovespa, closed 0.64% higher on Friday the 13th, defying superstitions and ending the week in the green with a 0.34% gain. This positive finish came amid early optimism driven by expectations of a larger interest rate cut in the United States, leading to a 1.30% increase in the index.
Investors speculated that Federal Reserve Chairman Jerome Powell might increase the rate cut to 0.5 percentage points, as the futures market now reflects a 43% chance of this, up from 28% the day before.
While the University of Michigan’s consumer sentiment index showed optimistic signs, the stock market’s gains were tempered. In Brazil, economic data remained resilient, with the Central Bank’s Economic Activity Index exceeding expectations and the Ministry of Finance adjusting GDP growth and inflation forecasts.
Economic Activity and Market Updates
Individual stocks like Azul, CVC, and Magazine Luiza saw significant gains, while Carrefour and Assaí faced setbacks after price target reductions. Overall, the Brazilian stock market displayed resilience and potential for growth amidst changing global economic conditions.
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