Stock market rises with Copom on the radar; VALE3, ITUB4 and VAMO3 advance

The Ibovespa operates on the rise in the first deals this Tuesday (7), at 129,218 points, with +0.59%, on the day the Copom meeting begins and with an agenda full of corporate balance sheets. Market agents envisage the possibility of reducing the pace of monetary easing to a cut of 0.25 percentage points. Shares of Vale (VALE3) and most large banks rise. Itaú (ITUB4), which reported record profits in 1Q24, fell 0.34%. Petrobras shares (PETR4) also operate between losses and gains. Airlines rise, as do construction companies, education companies, meatpacking companies, steel companies and most retailers. In the political field, the Chamber of Deputies approved a legislative decree to remove from the fiscal target resources aimed at helping Rio Grande do Sul after the damage caused by the rains. The text goes to the Senate for approval. With regard to the earnings season, after the stock exchange closes, numbers from Carrefour, GPA, Telefônica, Raia and Engie come out, while the market reflects the result of Itaú. On Wall Street, future indices operate on the rise, with investors maintaining bullish market sentiment since Friday, when the latest nonfarm payrolls (payroll) data showed that job growth fell short of expectations in April and unemployment rose. The results eased concerns that the economy was too hot and increased optimism surrounding the Fed’s rate cuts. (Felipe Alves)