United States futures indices operate higher this Tuesday (26), after falling the day before and before the release of more economic data. Consumer confidence data for March will be released in the morning. Durable goods orders and the Richmond Fed’s manufacturing index will also provide information on the health of the US manufacturing sector.
In Brazil, investors are waiting for the release of the minutes of the last meeting of the Monetary Policy Committee (Copom), which may provide more details on the direction of interest rates in the country after the 0.5 percentage point cut in the Selic last week. In addition to the draft, today’s agenda includes the March IPCA-15 and the Focus Bulletin. On the political side, Fernando Haddad, Minister of Finance, meets with governors of the Southeast and South to deal with the states’ billion-dollar debts to the Union.
1.World Exchanges
U.S
US index futures rise this morning after major indexes paused their rally. The three main indices ended Monday lower. The Dow fell 0.4%, while the S&P 500 and Nasdaq Composite fell about 0.3% each. The pullbacks came on the heels of last week’s strong gains, during which indices reached new closing highs.
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See how futures markets perform:
Dow Jones Futures: +0.20%
S&P 500 Future: +0.34%
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Nasdaq Futures: +0.48%
Asia
Asian markets closed with no direction, with some markets supported by chip stocks and real estate.
In mainland China, the Shanghai Composite index rose 0.17%, to 3,031.48 points, a day after the president of the Chinese central bank (PBoC), Pan Gongsheng, pointed out “some positive signs” in the real estate market. Also in reaction to the comment, the Hang Seng rose 0.88% in Hong Kong, to 16,618.32 points, amid the good performance of developers Country Garden (+2%) and Sunac China (+1.75%) .
In Tokyo, the Japanese Nikkei was practically stable today, with a marginal drop of 0.04%, at 40,398.03 points, as the advance in shares linked to semiconductors offset falls in shares of banks and the railway industry, a day after the stock of American memory chip maker Micron Technology jumped 6.3% in New York to a record high, in its seventh consecutive session of gains, given expectations of solid future demand for artificial intelligence (AI) chips.
Shanghai SE (China), +0.17%
Nikkei (Japan): -0.04%
Hang Seng Index (Hong Kong): +0.88%
Kospi (South Korea): +0.71%
ASX 200 (Australia): -0.41%
Europe
European markets operate without a clear direction as investors continue to ponder last week’s policy decisions by central banks in Europe and the US.
FTSE 100 (UK): -0.09%
DAX (Germany): +0.27%
CAC 40 (France): +0.05%
FTSE MIB (Italy): +0.29%
STOXX 600: -0.05%
Commodities
Oil prices are operating with slight losses after gains the day before, with expectations of tighter supply, driven by Russian production cuts and attacks on Russian refineries.
Iron ore prices in China closed in the red, amid growing sentiment of risk aversion, as the fundamentals of the main steelmaking ingredient remained unfavorable and downstream steel consumption in China, the main consumer, disappointed the Marketplace. April iron ore benchmark SZZFJ4 on the Singapore Exchange fell 4.34% to $103.85 a tonne.
WTI oil, -0.05%, at $81.91 a barrel
Brent crude, -0.10%, at $86.66 a barrel
Iron ore traded on the Dalian exchange fell 3.72%, to 814.50 yuan, equivalent to US$112.84
Bitcoin
- Bitcoin, +0.46% to US$71,158.37 (compared to the price 24 hours ago)
2. Agenda
This Tuesday’s agenda includes the minutes of the last meeting of the Monetary Policy Committee (Copom) of the Central Bank of Brazil, as well as the preview of inflation measured by the IPCA-15. In the USA, data on economic activity and consumer confidence are coming out.
Brazil
8am: Copom Minutes
8am: Industry Confidence March
8am: Fernando Haddad, Minister of Finance, meets with governors, Consortium for South and Southeast Integration (COSUD)
8:25 am: Focus Bulletin
9am: IPCA-15 March; LSEG consensus predicts an increase of 0.33% on a monthly basis and 4.13% on an annual basis
10am: President Lula participates in the Signing Ceremony of Acts related to the MOVER Program and Infrastructure Debentures
2pm: Fernando Haddad, Minister of Finance, gives an interview to CNN
2:30 pm: February Central Government
4pm: Lula meets with the President of France, Emmanuel Macron
USA
9:30 am: February durable goods
11am: March consumer confidence
3. Economic news
Haddad and governors of the Southeast and South discuss state debts with the Union
The Minister of Finance, Fernando Haddad, has a meeting scheduled this Tuesday morning with governors of the Southeast and South to discuss the states’ debts with the Union. The Minister of Institutional Relations, Alexandre Padilha, and the Secretary of the National Treasury, Rogério Ceron, will also participate in the meeting.
4. Political news
PF will investigate Bolsonaro’s accommodation at the Hungarian Embassy
The Federal Police will investigate the circumstances surrounding former president Jair Bolsonaro’s accommodation at the Hungarian Embassy, in Brasília, between the 12th and 14th of February, a few days after the launch of Operation Tempus Veritatis, which investigates the existence of an alleged organization criminal who allegedly participated in an attempted coup d’état in Brazil. The police will check whether Bolsonaro violated any of the restrictions imposed by the Federal Supreme Court (STF).
Moraes gives Bolsonaro 48 hours to explain trip to the Hungarian embassy
Minister Alexandre de Moraes, of the Federal Supreme Court (STF), gave 48 hours to former president Jair Bolsonaro (PL) to explain why he spent two days at the Hungarian Embassy, in Brasília, after having his passport seized by the Federal Police ( PF), last month.
5. Corporate Radar
Casas Bahia (BHIA3)
Casas Bahia (BHIA3) had an accounting loss of R$1 billion in the 4th quarter, increasing losses compared to the same period last year, when the loss was R$163 million.
Minerva Foods, the largest beef exporter in South America, ended the fourth quarter of 2023 with a net profit of R$19.8 million, compared to a net loss of R$25.7 million in the same period in 2022.
(With Estadão, Reuters and Agência Brasil)
Tags: Copom minutes IPCA15 consumer confidence USA highlights day
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