The director of Monetary Policy at the Central Bank (BC), Gabriel Galípolo, gives a lecture in São Paulo and the government must file complementary tax reform projects. Vale releases its first quarter results after the closing of B3. Abroad, Meta’s balance sheet is released and four directors of the European Central Bank (ECB) participate in events.
Exterior
New York stock index futures and European stock markets advanced, indicating they could extend recent highs. Treasuries interest rates also rise, suggesting some caution among investors, after the positive reaction the day before, mainly to the weak PMI in the United States, which raised the chance of the Federal Reserve (Fed, the country’s central bank) promoting two interest rate cuts. in this year.
In the earnings area, yesterday, Tesla disappointed with its quarterly numbers, but announced plans to bring forward the launch of cheaper cars, and the electric vehicle manufacturer’s shares continue to advance by around double digits. Today, Meta is one of the companies to release its balance sheet in the USA and data on orders for durable goods in the country will also be released.
In Europe, stock markets are rising with an eye on corporate news and also reacting to the better-than-expected increase in German business confidence. The dollar is recovering against strong currencies, while oil has a downward trend.
Brazil
The positive bias on the stock exchanges could stimulate some recovery in the Ibovespa, which yesterday detached itself from New York and closed down 0.34%, 125,148.07 points. At the same time, the 3.08% appreciation of iron ore today in Dalian reinforces this expectation, but volatility in the Bovespa Index cannot be ruled out, while investors await the release of Vale’s balance sheet, after the closing of B3, and due to the downward trend in oil.
The expectation of advancement of the government’s agenda may still be welcomed by domestic assets. The government must send bills to Congress today that complement the tax reform. The president of the Chamber, Arthur Lira (PP-AL), hopes to complete the regulation of the tax reform on consumption in the first half of the year. And the deputies approved yesterday, in a symbolic vote, the bill that reformulates the Emergency Program for the Resumption of the Events Sector (Perse). The text now goes to the Senate. This is the first victory this year in the Chamber of Finance Minister Fernando Haddad’s agenda, even though the final version was dehydrated.
However, the rise in Treasury yields and the strength of the dollar could lead to a devaluation of the real and an opening of the interest curve, with investors still paying attention to the participation of Gabriel Galípolo, from the BC, in an event in the capital of São Paulo.
*State Agency
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