The Brazilian market (Bovespa) rises in line with American markets
The Brazilian market (Bovespa) rises in line with American markets
The Brazilian stock market was trading higher on Thursday afternoon (22), following overseas indices and driven by a rise of over 1% in Vale’s shares, the heaviest-weighted company on the Ibovespa.
On Wall Street, the main stock indices were trading sharply higher, driven by the response to Nvidia’s results and forecasts. The Nasdaq, which gathers technology companies, was up 2.49% and led gains. At 2:21 PM, the Ibovespa rose 0.161% to 130,243 points, while the dollar advanced 0.10%, trading at R$ 4.943.
The most representative ETF of the Brazilian market (EWZ) was trading flat, as it has a high component of Petrobras, which was slightly down.
Today’s gains occur within a framework of high optimism in emerging markets, with the most representative ETF of this type of markets (EEM) up 1% from where it was on Wednesday.
The excitement in international markets also influenced the global bond market, with yields on US Treasury bonds showing a sharp decline. However, throughout the day, the yield curve started to rise, limiting gains in the Brazilian stock market.
This offset the caution triggered on Wednesday after the release of the minutes from the Federal Reserve’s latest monetary policy meeting.
In the document, the Fed stated that most voting members were concerned, at the central bank’s last meeting, about the risks of cutting the benchmark interest rate too early, with considerable uncertainty about how long borrowing costs should remain at the current level.
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