Ibovespa Futuro follows NY and operates with an increase in the first trading session of April

The Ibovespa Futuro operates higher this Monday (1st), in line with the American pre-market, as investors reflect softer than expected inflation data in the USA and a reading of activity above expectations in China, setting an optimistic tone for the return of the holidays and the beginning of April.

The PCE price index, the Federal Reserve’s (Fed) preferred inflation gauge, was released as much of global markets were closed for Good Friday. The indicator rose 0.3% in February, in line with market expectations.

The report increased bets on interest cuts in the first half of this year, a scenario that was reinforced by a speech by Fed President Jerome Powell during the weekend. In a presentation, Powell stated that the most recent data on US inflation is “in line with what we would like to see”.

At 9:14 am (Brasília time), the future index due in April was operating with an appreciation of 0.12%, at 128,855 points.

Investors are still waiting for the release of the Purchasing Managers Index (PMI), while President Lula meets with the Minister of the Civil House, Rui Costa, Minister of Finance, Fernando Haddad, and Minister of Mines and Energy, Alexandre Silveira.

On Wall Street, U.S. index futures trade higher as investors prepare for a busy week of economic data that begins on Monday, with construction spending for February and ISM manufacturing data for March due today. The March jobs (payroll) report is scheduled for Friday.

This morning, the Dow Jones Futures rose 0.25%, S&P Futures rose 0.28% and Nasdaq Futures rose 0.36%.

Dollar and foreign market

The commercial dollar operates with an increase of 0.06%, quoted at R$5.018 when buying and R$5.019 when selling. The dollar futures (DOLFUT) fell 0.13%, reaching 5,030 points.

In the interest rate market, futures contracts rise en masse in today’s session. DIF25 operates up 0.01 pp, at 9.93%; DIF26, +0.03 pp, at 9.93%; at DIF27, +0.04 pp, at 10.20%; DIF28, +0.04 pp, at 10.50%; DIF29 +0.03 pp, at 10.70%.

Oil prices are trading lower, holding on to most of their recent gains amid expectations of tighter supply due to cuts by the Organization of the Petroleum Exporting Countries and allies (OPEC+), attacks on Russian refineries and upbeat Chinese industry data. .

China’s iron ore prices reversed early losses on Monday, helped by data that showed China’s manufacturing activity expanded.

Asian markets closed higher, with the exception of Japan’s stock exchange, as encouraging manufacturing data boosted Chinese stocks and an unfavorable business confidence survey weighed on business in Tokyo. The latest Chinese industrial PMIs came in above expectations. The official rose to 50.8 in March, pointing to the first expansion in manufacturing after five months of contraction, while the S&P Global/Caixin reading rose to 51.1 last month, reaching the highest level since February 2023.

On the other hand, the Nikkei fell 1.40% in Tokyo today, to 39,803.09 points, after the Bank of Japan’s (BoJ) Tankan survey showed that sentiment among the country’s large manufacturers deteriorated for the first time in four quarters.

European markets will remain closed this Easter Monday, with most trading in the region not resuming until Tuesday. European stocks closed the first quarter of 2024 around 6.8% higher on Thursday, as recent inflation data continues to show that pressures from higher prices are slowing.

(With Reuters)