The markets operate in high on the morning of this Wednesday (9). In Brazil, investors digest the inflation and retail data published earlier by the IBGE.
Starting abroad, US futures opened higher, extending yesterday’s recovery, driven by better-than-expected corporate results.
Crude oil fell more than 2% on Tuesday and continues to fall today, with the United States saying a nuclear deal with Iran is in sight. , contributing to the stock market correction.
The drop also helps to ease market tensions over the situation in Eastern Europe. The market’s reading is that French President Emmanuel Macron did not work miracles, but he managed to buy time.
Despite this, investors remain cautious with consumer inflation in the US, which comes out next Thursday (10). The market expectation is for a high of 7.2% in January, year on year, the highest level in 4 decades.
With the forecast, US bond rates remain above 1.9% and boost bank shares.
In Europe, stocks also rallied on strong fourth-quarter balance sheets and recovery in global markets. Stocks in Asia also closed higher following New York.
Brazil
Inflation for January rose 0.54% according to data released by the Brazilian Institute of Geography and Statistics (IBGE) this morning. A high very similar to market expectations, which expected a 0.55% advance.
The index fell compared to December, when it rose 0.73%. Even with the deceleration, it was the biggest for the month since 2016. According to the IBGE, the result was mainly influenced by food and beverages.
Data also came out for the retail sector, which rose 1.4% in 2021 when compared to 2020. Extended retail, which also includes vehicles and construction materials, rose 0.3%, below market expectations, which expected a up 0.7%.
Inflation is added to the minutes of the Monetary Policy Committee (Copom) of last Tuesday (8). The harsher tone of the Central Bank (BC) led the market to predict that the basic interest rate – the Selic – will not stop rising at the next meeting, in March.
The main bet is that the Selic will go up one point in March and half a point in May, going to a terminal rate of 12.25%. This is the projection of banks like Bank of America, JP Morgan and Barclays.
In politics, the pressure on public accounts continues to increase with the so-called “PEC Kamikaze” advancing after gaining 21 signatures, above the minimum, showing strong initial support for the proposal.
In the corporate sector, the highlight is the judgment of the Administrative Council for Economic Defense (Cade) on the sale of Oi to Tim, Vivo and Claro.
The day before, Bradesco released its balance sheet with a drop of almost 3% in fourth-quarter profit, slightly below market expectations. XP, on the other hand, closed the fourth quarter with a 51% increase in profit in the annual comparison.
The Ibovespa was operating close to stability this morning, up 0.07%, at 112,310 points, around 10:30 am. The dollar, on the other hand, rose 0.16%, quoted at R$ 5.2679.
Agenda of the Day
In addition to the Broad Consumer Price Index (IPCA), there is an exchange rate flow at 2:30 pm and judgment by Cade. Klabin’s balance sheet should come out in the morning.
After the stock market closes, Suzano’s balance sheet and Petrobras’ production report must be released. Outside, the agenda is emptier with wholesale inventory data and oil inventories in the United States.
Source: CNN Brasil
