11.09.202520:17:18UTC+00Ibovespa Sets New Record High

On Thursday, the Ibovespa index increased by 0.6%, closing at a record 143,150. This growth occurred amidst a backdrop of domestic political tensions, fluctuating macroeconomic data, and evolving expectations regarding US monetary policy. The Supreme Federal Court proceeded with its significant trial of former President Jair Bolsonaro, where Alexandre de Moraes and Minister Flávio Dino voted for conviction, while Minister Luiz Fux opposed. This outcome could potentially lead to diplomatic tensions with the US and invite scrutiny over trade or possible sanctions, which has been a concern for investors. Meanwhile, Brazil's retail sales unexpectedly rose by 1% year-over-year. On the international front, US headline Consumer Price Index (CPI) showed a 2.9% year-on-year increase in August, adding complexity to the Federal Reserve's monetary policy decisions, especially considering the softening labor market that has led investors to anticipate a potential 25 basis point interest rate cut next week. In the equities market, notable performers included Vale, which rose by 0.9%; Ambev, up by 1.6%; Banco Do Brasil, increasing by 0.8%; Eletrobras, with a 1.5% rise; and Banco Santander, climbing by 1.6%.