The first reading of US GDP for the first quarter and PCE inflation for the period are the highlights on the international agenda. Balance sheets of banks and companies, such as American big techs Microsoft, Alphabet and Intel, and speeches by European Central Bank directors will be monitored. The local market will also follow the Ministry of Finance’s press conference to detail the first project of complementary laws for the tax reform, and the Petrobras shareholders’ meeting, to elect a new Board of Directors and approve the proposal for payment of 50% of the extraordinary dividends in 2023. Furthermore, the focus will be on the president of the Central Bank, Roberto Campos Neto, at the opening of the G20 TechSprint 2024, and on the Minister of Finance, Fernando Haddad, at the Tax Law Congress, in São Paulo.
Exterior
Future indices on stock exchanges in New York are pressured by corporate balance sheets, while investors await US GDP, which could influence bets on the trajectory of US basic interest rates, and the results of giants in the technology sector.
Meta’s share lost more than 13% in the pre-market, repeating the after-hours behavior, after Facebook’s parent company raised its spending forecast for 2024. IBM’s share fell 8% due to disappointment with revenue, while Ford rose 2.47% in the pre-market at around 6:45 am, reflecting an increase in revenue above what analysts expected in the 1st quarter.
In Europe, losses also predominate with investors digesting the balance sheets of companies, such as Unilever, and banks in the region, especially Deutsche Bank, BNP Paribas and Barclays, and paying attention to signs of monetary policy in the euro zone. Treasuries interest rates fluctuated close to yesterday’s adjustments, the dollar retreated and oil was also close to stability, with a downward bias.
Brazil
External caution should weigh on adjustments to domestic assets. The repercussion of balance sheets will also move B3, like those of Vale and Assaí, amid expectations for the Petrobras shareholder meeting, in the early afternoon.
Investors will also reflect on the tax reform regulatory project, delivered yesterday and which will be detailed in a press conference this morning. The Minister of Finance, Fernando Haddad, delivered the document early in the evening to the President of the Chamber, Arthur Lira (PP-AL), and party leaders. Haddad stated that “Lira, since the transition until yesterday, has demonstrated resoluteness, a determination to help the country find its path of development and social justice”.
The minister said that the government must deliver the remaining regulatory projects for the reform within two weeks. Lira said that the idea is for the projects to be in the plenary for voting by July, before the parliamentary recess. After also receiving Haddad’s first project, the president of the Senate, Rodrigo Pacheco (PSD-MG), said that 2024 will be a priority year for regulating the tax reform on consumption, and commented that Parliament will work to deliver the approval of the theme this year, even with the municipal elections calendar.
*State Agency
