The stock market opens lower today, with investors evaluating data from abroad and local. In Brazil, industry data is highlighted, while, in the external scenario, the ADP report in the United States and the unemployment rate in Europe could move the value of assets during the trading session.
So, around 10:25 am, the Ibovespa fell 0.30%, to 127,161.52 pointserasing part of the gains from the previous session.
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Dolar today
Thus, the North American currency operated higher in relation to the real. At the time mentioned, the dollar advanced 0.39%, quoted at R$5.0776.
In the external scenario, however, the dollar’s performance is negative. The DXY, the global index of the North American currency, fell 0.09%, to 104.72 points.
Industry performance could impact the stock market today
The national industry showed a change of -0.3% from January to February, representing a growth of 5% compared to the same period of the previous year.
The numbers are in line with expectations, according to a projection by economist Igor Cadilhac, from PicPay.
“This result is a movement towards returning the increase accumulated at the end of last year and the homogeneous and positive performance of January”, assesses Cadilhac.
The analysis of capital goods (1.8%), durable consumer goods (3.6%) and semi- and non-durable consumer goods (0.4%), together with data on typical inputs for civil construction (1%) signal a better performance of the GDP proxy for investments at the end.
“Looking ahead, our outlook is for a relatively positive industry this year”, projects Cadilhac.
However, there are analyzes that point to a negative picture.
“The data released today signals that the Brazilian film industry is also not doing well”, says CM Capital economist Matheus Pizzani
“After a divergence in analyzes regarding a possible correction movement in January after the growth observed in December, the February result reiterates that the situation in the country’s secondary sector is delicate, especially from the perspective of the segments covered by PIM (Industrial Research Monthly), which focuses exclusively on the transformation and extractive industries”, he adds.
Investors await further comments from Federal Reserve Chairman Jerome Powell, the first since a series of stronger data this week.
Recent indicators “led the market to reduce bets on the number of rate cuts this year and caused a fall in global bonds”, assesses Guide in a report.
In addition to Powell, five other Fed policymakers will speak today.
The other big event of the day is the ADP employment report, which may provide a preview of data from Friday’s Non-farm Payrolls report.
The median market projections (BBG) point to the addition of 150 thousand workers in the private sector in March, the highest this year
Europe
In Europe, not even the good news related to inflation improved sentiment.
The latest CPI report revealed that overall block prices fell to 2.4% in March, falling short of the market consensus of 2.6%.
Furthermore, the unemployment rate in the euro zone was 6.5% in February, slightly higher than expected and repeating the level of January, according to seasonally adjusted data released this Wednesday (3) by the official statistics agency of the European Union, Eurostat.
January’s data was revised upwards, from 6.4% originally. Analysts consulted by FactSet predicted that the rate would remain at 6.4% in February.
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