Ibovespa reaches 134 thousand points after record; dollar has risen slightly

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The day before, the main stock market index advanced 0.59%, to 133,533 points. The North American currency fell 0.79%, quoted at R$ 4.8220. Panel shows market variation at B3, in São Paulo. Amanda Perobelli/Reuters Ibovespa, the main stock index on the Brazilian stock exchange, B3, operates on a high this Wednesday (26), above 134 thousand points, after reaching a new record the day before. This week — the last of the year and with the lowest trading volume — the market is still awaiting some important releases, with emphasis on inflation and employment data in Brazil and economic activity in the United States. In the same scenario, the dollar operates slightly higher, at around R$4.82. See the day in the markets below. Dollar At 2:50 pm, the dollar was up 0.03%, quoted at R$4.8234. See more quotes. The day before, the North American currency closed down 0.79%, quoted at R$4.8220, the lowest level since August 2nd. As a result, it began to accumulate falls of: 1.90% in the month; 8.64% in the year. Ibovespa At the same time, Ibovespa rose 0.41%, to 134,076 points. At the day’s high, it reached 134,193 points. The day before, the index closed with an increase of 0.59%, at 133,533 points, the highest closing level in history. As a result, it accumulated gains of: 4.87% in the month; 21.69% in the year. READ ALSO CASH OR CARD? What is the best way to take dollars when traveling? DOLLAR: When is the best time to buy the currency? Understand what makes the dollar rise or fall What is moving the markets? With an empty agenda, the market awaits a statement from Minister Fernando Haddad, who promises to announce measures for the economy in 2024 in the coming days. The government’s economic team is looking for ways to increase revenue and, thus, be able to eliminate the fiscal deficit in 2024, as foreseen in the Budget. Asked by journalists this Tuesday about what they will be, the minister declined to say anything. But he said that the proposals will go through the Civil House, for analysis by the president, Luiz Inácio Lula da Silva, and should be presented to the population later this year. The Finance Minister also celebrated some economic results in the government’s first year and said that there is still “a way to go”. “We are ending the year with good indicators everywhere. Employment, inflation, exchange rate, interest, everything converging to the level we want. This is the result of work, it has to be continued. How can we continue the work? With transparency, capacity for dialogue, capacity for articulation”, stated Haddad. The main news of the day in the economy is that the national minimum wage will be R$1,412 from January 1, 2024 – R$92 more than the R$1,320 currently in force. The calculation had been anticipated by g1 and included as a forecast in the 2024 Budget. According to Palácio do Planalto, President Luiz Inácio Lula da Silva left the decree signed before traveling for the end of year recess. There is no date set for the publication of the document, which could happen until next Sunday (31). Those who receive the minimum wage (or multiples thereof) or benefits linked to this amount, such as unemployment insurance and the Continuous Payment Benefit (BPC), already receive the adjusted total at the beginning of February. Throughout the week, other indicators will be released and could affect market sentiment, mainly the IPCA-15 and November unemployment here, and unemployment insurance claims and home sales in the United States. In the USA, in fact, the main Wall Street indices rose this Wednesday, with the S&P 500 approaching an all-time high due to the prospects of interest rate cuts by the Federal Reserve. The benchmark index is close to breaking its record closing high reached in January 2022 and is on track to post its biggest quarterly gain in three years. “Traditionally, between Christmas and New Year there isn’t much activity, but I notice that a dominant emotion of optimism seems to be present this week,” Peter Andersen, founder of Andersen Capital Management, told Reuters. “I believe the Fed will not raise rates in 2024 and that the economy will continue to show a successful soft landing. This should provide a solid foundation for a continued recovery in 2024.” Traders’ bets that the Fed will make an interest rate cut in March are currently at 84%, up from about 21% in late November, according to CME Group’s FedWatch tool.

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