Ibovespa Futuro is slightly lower following New York indices and attention to the start of the results season in Brazil

The Ibovespa Futuro is trading slightly lower this Tuesday (24), following the movement of the New York futures indices, which remain mixed.

Global stock markets started the day without a defined direction, despite good results both in the US, with the figures of Microsoft, and in Europe, with the balance sheet of Deustche Bank. Data from Alphabet, the owner of Google, did not sit well with investors.

At 9:10 a.m. (Brazil time), the index of futures due in December was down 0.15% at 115,270 points.

Despite​​​​a continued upward trajectory, Treasury yields slowed, moving at a slower pace than last week. The yield on the 10-year Treasury rose to 4.857%. The 2-year Treasury yield increased 1.6 bps to 5.087%, while the 5-year yield increased 1.8 bps to 4.842%.

In the conflict between Israel and Hamas, the lack of fuel in the Gaza Strip is a point of contention. According to Israel, the fuel would be sufficient, but Hamas monopolized its use. Now, according to the UN, it will not be possible to continue operations to send humanitarian aid resources if they do not receive fuel at short notice, given the shortage in the region. Among the potentially affected operations are resource transportation, water desalination, and use in medical equipment.

“The complaints of the Palestinian people cannot justify the terrible attacks of Hamas. These horrific attacks cannot justify the collective punishment of the Palestinian people,” UN Secretary-General Antonio Guterres said on social media platform X (formerly Twitter).

According to CNBC, Israel’s UN representative called on Guterres to resign over comments about the conflict.

US earnings season will see figures from Meta, Boeing and IBM, followed by Amazon data on Thursday.

Among the indicators will be presented data on sales of new homes, which the Refinitiv consensus predicts at 680 thousand. In the political field, the debate for the position of the president of the US House of Representatives remains uncertain after more than 3 weeks without leadership in the House of Representatives. GOP Majority Leader Tom Emmer withdrew his candidacy after pressure from the party’s most radical wing.

Federal Reserve President Jerome Powell’s speech at 5:45pm today will be closely watched by investors alert for any hint of the direction of US interest rates.

This morning, Dow Jones Futures rose 0.16%, S&P Futures fell 0.25%, and Nasdaq Futures registered a 0.45% drop.

In Brazil, the biggest expectations of the week are related to the IPCA-15, which will be released on Thursday. Today’s agenda includes the release of federal government debt published by the Treasury and results by industry, CNI.

Here, the start of the season of summarizing results was given by the publication of Romi Industries’ balance sheet, which showed a fall of 31.5% year-on-year. Klabin (KLBN3), Santander (SANB11) and WEG (WEGE3) released their numbers before the opening.

Santander Brasil recorded a net profit of 2.729 billion reais in the third quarter of this year, according to data published this Wednesday. During the year, the bank’s result fell by 12.6%, but compared to the second quarter of this year, it increased by 18.2%. WEG’s 3Q net income was 1.31 billion reais, up 13.3% year-on-year.

Klabin, in turn, decreased by 88% year-on-year, earning R $ 245 million and will distribute interest on equity capital (JCP) of R $ 319 million.

In political news, pay attention to the progress of the agendas being processed in Congress. “There is some optimism about the possible approval of the measures, especially after Finance Minister Fernando Haddad said yesterday that with the new value of the Fund for Regional Development (FDR), agreed with his department, will come a report on tax reform. with the “necessary strength” to be approved by the Senate in 15 days,” Agora estimates.

According to market sources, the FDR to be established, the Chamber notes, is to gradually contribute an additional 20 billion reais over ten years, reaching a value of 60 billion reais per year in 2043.

Dollar today

The commercial dollar rose 0.14% to trade at R$5,000 for buying and R$5,001 for selling

Dollar futures (DOLX23) for November rose by 0.13%, reaching 5.003 points.

In the interest rate market, contracts traded with little upside except for the shortest contract. DIF24 (January-2024) works with a drop of 0.12 pp, or 12.11%; DIF25, +0.05 pp, by 10.94%; DIF26, +0.05 pp, by 10.81%; DIF27, +0.14 pp, by 11.00%; DIF28, +0.09 pp, by 11.24%; DIF29 +0.09 pp, 11.42%.

Exterior

European markets are mostly down, with the exception of the UK’s FTSE 100.

The Stoxx 600 index was down 0.38%, and sectors were mixed, undecided. Mining stocks rose slightly (0.28%) on ore production, while on the downside, retail stocks fell 1.64%.

Even Deustche Bank’s 7% rise couldn’t hold back the index’s rise. Shares are rising after the German bank reported third-quarter net profit of 1.031 billion euros ($1.06 billion), slightly beating expectations. Despite this, the result represents an 8% drop compared to the previous year, and the bank continues to experience ongoing difficulties in its investment division.

Asia

Stock markets in Asia closed mixed, with growth in the Shanghai Stock Exchange (0.4%), Nikkei (0.67%) and the HSI index (0.55%).

It was a day of success in China after the country’s top parliamentary body approved an additional 1 trillion yuan ($137 billion) in sovereign bond issuance to support the economy.

The increase in fiscal stimulus showed top management’s commitment to spur economic growth, even as the full-year GDP growth target of 5% was all but guaranteed, analysts said.

South Korea’s Kospi fell, as did the ASX 200, which fell after higher-than-expected inflation data from Australia was released.

oil

After a more timid start to the session with WTI falling, oil started to rise after closing the sessions on Monday and Tuesday in the red. The decline in the commodity is caused by signs of an economic slowdown in Europe, the appreciation of the dollar and geopolitical uncertainty related to the war between Israel and Hamas.

Iron ore, traded on the Dalian Stock Exchange, rose 3.32% to 872 yuan, equivalent to US$119.20, a strong gain for the second straight session after three declines. The move boosted mining stocks, with Vale ( VALE3 ) rallying late Tuesday.

(com Reuters)

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