The Ibovespa closed with a slight increase of 0.42% this Friday (2), at 110,864 points. In the week, however, the index retreated 1.28%.
Despite today’s rise not being so expressive, the main index of the Brazilian stock exchange managed to stay in the green, even with the main benchmarks Americans falling hard. The Dow Jones, S&P 500 and Nasdaq were down 1.07%, 1.07% and 1.31%, respectively. In the week, still in the same sequence, the accumulated drops were 2.31%, 2.75% and 3.24%.
“The market today reflects Payroll, which came out earlier. There was a recovery in asset prices and then a decline. Job creation was strong. The United States has a heated job market and this reinforces the bets that the Federal Reserve will continue to raise interest rates”, says Enrico Cozzolino, partner and head of analysis at Levante Investimentos.
According to the expert, investors continue to position themselves with caution, as a higher interest rate increases uncertainty about the future performance of the world’s largest economy – and also of companies.
The number of US jobs created in August was 315,000, higher than the consensus of 300,000.
“The Payroll data, despite having given some momentum to the market at the beginning, ended up turning the expectation in the part of the day. That’s because, at the end of the day, the Fed doesn’t seem to be that much more reactive to this high-frequency data. The unemployment rate, despite the slight increase, still rose little to structurally change the Fed’s behavior. There will still be an aggressive increase”, adds Matheus Spiess, an analyst at Empiricus.
Today, although the job market is still buoyant, treasuries yields took a break, after the strong rise of the day before. Two-year bonds dropped 12.6 basis points to 3.396% and ten-year bonds dropped 7.2 points to 3.193%.
Cozzolino points out that, in addition to the news coming from the United States, the climate is also one of caution due to the Chinese news, with the Asian giant implementing new lockdowns due to the increase in cases of Covid-19. The 21 million residents of the city of Chengdu are already isolated in their homes.
In the commodities market, Brent crude advanced 0.92%, with a barrel quoted at US$ 93.21, with expectations that OPEC+ will discuss production cuts at a meeting on September 5, but it was far from recovering the low. of almost 4% from yesterday. Iron ore traded on the Dalian Stock Exchange had a new day of decline, down 2.84%, at US$ 96.62 a ton.
CONTINUE AFTER ADVERTISING
“Brazil managed to sustain a marginal increase, with names linked to civil construction and development, benefiting from the drop in interest rates”, comments Spiess.
Among the biggest increases on the Ibovespa were the common shares of Eztec (EZTC3), with an increase of 8.42%, those of JHSF (JHSF3), with an increase of 8.28% and those of MRV (MRVE3), with an increase of 8.14%. %.
In addition to benefiting from the decline in the yield curve, construction companies also benefit from the fall in metallic commodities, which weigh on their margins.
The Brazilian yield curve fell en bloc. The DIs for 2023 had their rates down one basis point to 13.71%, as well as those for 2025, which were 11.73%. The contracts for 2027 and 2029 lost, respectively, four and three points, at 11.50% and 11.65%. At the end of the curve, the DI for 2031 was 11.76%, down seven points.
The dollar, finally, fell 1.02% against the real in the session, to R$5.184 in the purchase and to R$5.185 in the sale, with investors pocketing profits after the mixed US jobs report and ahead of a weekend. extended without reference to North American markets. In the week, however, the American currency rose 2.11%.
Purchase opportunity? XP Strategist Reveals 6 Cheap Stocks to Buy Today. watch here.