Investing.com – Investors are paying attention to the earnings season in Brazil and the United States, with data from Bradesco and Weg this morning and Apple after the closing bell, while markets reflect the president’s latest speeches, which allayed fears of a possible rise in prices. interest this year, given persistent inflation and a heated job market in the United States.
This Wednesday, the Federal Open Market Committee (Fomc) decided to maintain prices at the current level, in the range between 5.25% and 5.5%. The Committee reinforced its dependence on data for upcoming decisions and expressed concern about inflationary pressures, but the president of the Fed, said it was unlikely that the American monetary authority’s next move would be to raise interest rates. “The most notable aspect of the press conference was Powell’s strong retreat regarding the possibility of raising rates,” Goldman Sachs (NYSE:) noted in a note.
In the earnings season, analysts expect a drop in Apple’s (NASDAQ:) revenue, given the decline in iPhone sales, which represent around half of the big tech’s revenue. Greater competition, especially in China, has been impacting the results of one of the Magnificent 7.
At 9:07 am (Brasília time), it rose 0.89%, gained 0.67% and was appreciating 0.50%. It rose 1.05% and lost 0.81%, to R$5.1514.
a reference in the United States, rose 1.05%, to US$79.83, and recorded gains of 1.14%, to US$84.39.
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Vale’s (NYSE:) ADRs rose 0.70% in the pre-opening, to US$12.28, and those of Petrobras (NYSE:) gained 0.06%, to US$16.94.
News of the day
— The surplus in the trade balance of goods reached US$5.1 billion in March 2024, reported the Central Bank.
Direct investments in the country (IDP) — Direct investments in the country (IDP) had net inflows of US$9.6 billion in March, the BC also highlighted.
Rating — The risk rating agency Moody’s Ratings raised Brazil’s outlook from “stable” to “positive”, but maintained the rating at Ba2 – two steps away from investment grade.
Perse — The Senate approved the ceiling of R$15 billion in incentives for the events sector from the Emergency Program for the Resumption of the Events Sector (Perse) until 2026. Now, the text goes to sanction.
Preview — The third and final preview of the Ibovespa of B3 (BVMF:) which will be in effect from May 6th to August 30th includes the entry of shares from Vivara (BVMF:) and the exit from Casas Bahia (BVMF:).
Agenda of the day
Roberto Campos Neto — Meetings with representatives from Intel (NASDAQ:), with Fernando Haddad, Minister of Finance, with Bernard Appy, Extraordinary Secretary for Tax Reform at the Ministry of Finance, and Daniel Loria, Director of the Extraordinary Secretariat for Tax Reform.
Luiz Inácio Lula da Silva — Overflight of the areas affected by the rains in Santa Maria (RS) and meeting with the Governor of Rio Grande do Sul, Eduardo Leite.
Fernando Haddad — Meetings with Alessandro Octavini, Superintendent of Private Insurance (Susep), with Roberto Campos Neto, President of the BC, with Aristides Veras dos Santos, president of the National Confederation of Rural Workers and Family Farmers (CONTAG), and with Benjamin Steinbruch, president of the Board of Directors of Companhia Siderúrgica Nacional (CSN (BVMF:)).
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Corporate News
Vale (BVMF:) — The deadline for hiring an international standard consulting company to conduct the selection process is June 30th. Furthermore, the mining company concluded the sale of 10% of Vale Base Metals to Manara Minerals.
Banco Bradesco (BVMF:) — Banco Bradesco reported recurring net profit of R$4.21 billion in the period from January to March, a drop of 1.6% compared to the same period of the previous year.
Sabesp (BVMF:) — The Government of the State of São Paulo published the result of the Public Consultation regarding the documents made available within the scope of the company’s privatization process. The SP City Council holds this fifth final vote on the bill for the privatization of the company.
Weg (BVMF:) — Weg presented a net profit of R$1.33 billion in the first quarter of this year, an increase of 1.6% compared to the value obtained a year earlier.
JBS (BVMF:) — The food producer announced that it intends to create 7 thousand new jobs this year throughout Brazil.
GPA (BVMF:) — GPA joined the São Paulo State government’s ICMS debt settlement program. In this way, there was a reduction of around 80% in contingencies of R$3.6 billion.
CSN (BVMF:) — Signed an exclusive negotiation agreement to purchase 100% of Intercement.
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