Ibovespa opens lower this Thursday, echoing Lula’s speeches and US data

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On Wednesday, the main stock index rose 0.71% to 112,228 points. Ibovespa Freepik The Ibovespa, the main index of the São Paulo stock exchange, the B3, opened with a drop this Thursday (19), echoing speeches by President Luiz Inácio Lula da Silva (PT) and Federal Reserve agents, in the United States United. At 10:05 am, the index fell 0.53%, to 111,632 points. See more quotes. On Wednesday, the index had registered an increase of 0.71%, at 112,228 points. With the result, the Ibovespa started to accumulate a gain of 2.27% in the year. What is messing with the markets? The market continues to echo President Luiz Inácio Lula da Silva’s speeches in the economic field. On Wednesday (18), the first exclusive interview with Lula since his election by GloboNews was aired. Among other subjects, the president spoke about economic issues widely addressed by the financial market. Lula stated that the independence of the Central Bank of Brazil is “nonsense” and that the current inflation target, defined by the National Monetary Council (CMN), hinders economic growth. BTG Pactual analysts also highlight the president’s speeches about the need for the economy to grow again, about establishing a new relationship between capital and work and strengthening the defense industry. Lula talks about issues involving the Central Bank Earlier, the PT reiterated in a speech after a meeting with trade unionists that he intends to implement his campaign promise to exempt income tax for those earning up to R$ 5,000 and stated that readjusting the minimum wage “It is the best way to distribute income in this country”. The president also defended that it is no use for Brazil’s Gross Domestic Product (GDP) to grow if it is not distributed. “We have already proved that it is possible for us to raise the minimum above inflation and the minimum is the best way for us to distribute income in this country. It is no use for GDP to grow if it is not distributed”, said the president. Lula defends income tax exemption for those earning up to R$ 5 thousand Abroad, the highlight of the day remains with the United States. Yesterday, the Fed published the Beige Book, a document that provides information about the economy in the 12 central bank districts. The agency reported that prices have slowed in most districts, while the tight job market continues to pressure wages in the US. In the area of ​​inflation, the general assessment is that high prices continue to impact the purchasing power of American consumers even after the deceleration of inflation. Still, consumer spending gained momentum driven by purchases during the year-end recess. Unlike inflation, the job market still shows no signs of cooling down and remains tight, reports the document. Thus, there is still “high wage pressure” in the country. The Beige Book reports that employment continued to rise in most of the 12 Fed districts and companies are still struggling to fill open positions, even in the face of increased job supply in some regions of the US. Following the disclosure, Fed officials spoke and signaled the need for the central bank to continue adopting a more restrictive monetary policy, with the maintenance of interest rates at high levels. Currently, American rates are between 4.25% and 4.50% a year and expectations are for new highs.

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