Ibovespa Futuro follows NY and rises on GDP preview day in Brazil; investors track UK tax changes

The Ibovespa Futuro operates higher in the first trades this Monday (17), following the pre-market in the United States and European stock exchanges. At 9:12 am (Brasília time), the contract for December rose 0.80% to 114,750 points.

On Wall Street, futures indexes operate higher, erasing parts of the losses recorded in Friday’s trading, with investors eyeing a week marked by results from large companies, which should provide signals about the health of the American economy.

Dow Jones Futures up 1.02%, S&P Futures up 1.20% and Nasdaq Futures up 1.47%. Over the earnings season, Bank of America shares are up about 3% in premarket New York trading, with profit and revenue beating projections. BofA reported that its third-quarter net income fell to $6.58 billion, or $0.81 per share, from $7.26 billion, or $0.85 per share, in the same quarter of the year. past. Revenue rose 8% to $24.5 billion.

In exchange, the dollar operates lower after accumulating a high of 2.1% last week. The commercial dollar had a fall of 0.71%, quoted at R$ 5.285 in the purchase and sale. The dollar futures for October was down 0.69%, at R$5.304.

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The future yield curve operates in a general low. DIF23 (January to 2023), -0.01 pp, at 13.68%; DIF25, -0.09 pp to 11.67%; DIF27, -0.11 pp, at 11.49%; and DIF29, -0.12 pp, at 11.63%.

In the local scenario, IBC-Br, considered the preview of GDP, fell by 1.13% in August compared to July. The index rose 4.86% in August compared to the same stage in 2021.

Europe

European markets are also on the upswing, with investors digesting a major change to UK tax plans that has lifted prices for both sterling and government bonds.

On Friday, Kwasi Kwarteng, the UK’s finance minister, couldn’t resist the crisis and was sacked, 45 days after taking office.

The new Treasury Secretary of the United Kingdom, Jeremy Hunt announced today the reversal of almost all fiscal measures foreseen in the Growth Plan, called the mini-budget – and which had not yet passed the scrutiny of lawmakers in Parliament.

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With today’s measures added to last week’s announced cancellation of the corporate tax cut, the government will save £32bn ($36bn) a year.

Asia

Asian markets closed without a single direction in trading on Monday, as recession fears weighed on the region’s main indexes.

For this week, several countries in the region are expected to release inflation data, while Australia will release unemployment statistics and China will announce its decision on the basic lending rate.

Over the weekend, Chinese President Xi Jinping delivered a speech at the opening ceremony of the 20th National Congress of the Communist Party of China, where he warned against “interference by outside forces” in Taiwan – a self-governing island that Beijing views as a runaway province. . He also said China “will never promise to renounce the use of force” for reunification.

Iron ore prices, meanwhile, retreat with cloudy prospects for China’s economic growth in 2022.

Still in the spotlight, China abruptly delayed the publication of its third-quarter Gross Domestic Product (GDP) a day ahead of the scheduled release date, an unusual move amidst the 20th Communist Party Congress this week.

The GDP data, as well as a number of other economic indicators such as retail sales, property sales and fixed asset investments, were marked as “backward” on China’s National Bureau of Statistics (NBS) website. .

The website does not give a reason for the delay or say when the data will be released. NBS spokespersons did not immediately respond to requests for comment.

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