See stock exchange and dollar quotes this Friday – 03/10/2023 – Market

The dollar rose against the real in the first trades this Friday (10), with investors waiting for an important employment report from the United States that may offer clues about the Federal Reserve’s monetary tightening trajectory, while monitoring the news involving the new framework tax in Brazil.

The market also digests IPCA data released by the IBGE, which showed an increase of 0.84% ​​in the index in the monthly comparison.

At 9:02 am (Brasília time), the spot dollar advanced 0.30%, to R$ 5.1558 reais in the sale.

On the B3, at 9:02 am (Brasília time), the first contract dollar futures contract fell 0.2%, at R$ 5.1800.

The Stock Exchange closed down this Thursday (9), following the trend of the markets in the United States, which worsened in the afternoon with the worsening of risk perception for companies in an environment of higher interest rates. The dollar closed practically stable, after oscillating throughout the day.

The Ibovespa closed down 1.38%, to 105,071 points, returning much of the 2.22% advance recorded this Wednesday (8). The spot commercial dollar closed down 0.01%, at R$5.140.

In the interest market, rates continued the downward trend observed this Wednesday, even with the perspective that the Selic may be cut sooner than imagined. Contracts maturing in January 2024 fall from 13.08% to 13.04% per annum. For January 2025, interest rates drop from 12.40% to 12.23%. At maturity in January 2027, the drop is from 12.79% to 12.56%.

Until the beginning of the last hour of trading, the Ibovespa was down, but at a moderate pace. Closer to the end of the session, the performance began to deteriorate, coming closer to the New York indexes.

If this Wednesday, the news that the new fiscal framework would be announced later this month generated optimism, this Thursday the mood of the market changed.

The Minister of Planning and Budget, Simone Tebet (MDB), said this Thursday (9) that the new fiscal rule designed by the Luiz Inácio Lula da Silva (PT) government is responsible, guarantees resources for investments and will please everyone, including the market.

In the interest rate market, the reaction was different. That’s because investors are already starting to project a cut in the Selic rate by the BC earlier than expected.

According to the Bloomberg agency, a decrease of 0.25 percentage points in the Selic in June has already been completely incorporated into prices. There is a 50% chance that this cut will start in May.

The news about companies also moved the Stock Exchange this Thursday. Negative highlight for Hapvida, with the common share closing down by 33.56%. The company announced on Wednesday night that it may increase its capital with a new issue of shares. According to a survey by Trade Map, the company lost almost BRL 7 billion in market value this Thursday.

Another important fall was in CSN’s common stock, by 8%. The steelmaker’s net profit fell by more than 80% in the fourth quarter of 2022, compared to the same period in 2021.

In New York, stock indices also signed a sharper downward movement shortly before the close. The move was mainly triggered by the banking sector, after Silvergate Capital announced that it must close its operations due to the recent declines in cryptocurrencies.

“There is a general concern that with the higher interest rate, there will be a problem for companies to pay their commitments,” said Matt Maley, chief markets strategist at Miller Tabak + Co. to Bloomberg.

The Dow Jones index closed down 1.66%. The S&P 500 fell 1.85%. The Nasdaq ended the day down 2.05%.

With Reuters