July 3, 2022

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Bolsas em queda, falas de Powell e Yellen, ata do Copom e mais assuntos que vão movimentar o mercado hoje

Ibovespa drops 1.12%, renews worst close of the year; Delays in the GEC vote and the omicron variable prevented the stock exchange’s recovery

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SAO PAULO – The first trading session for the month of December from Ibovespa It was a replay of what happened repeatedly in the last month. The exchange started the day well, recovering 104K points, but it returned to negative terrain under pressure from the performance of global markets and internal issues that persisted for months.

It wasn’t much different there. US stocks rose sharply for most of the day, but turned around with uncertainty about the true impact of the Covid-19 omicron variant on the economy. The first case of the mutation was confirmed in the case of California, while hospitalizations increased in South Africa. However, the World Health Organization does not yet know precisely how dangerous the new strain is and whether it is actually resistant to existing vaccines. .

President Joe Biden was more circumspect about the alternative in a speech this afternoon. Biden, who initially scrapped the new restrictions in the United States because of the new strain, said he was concerned about inflation and a drop in vaccinations.

Read more: Anvisa says vaccines remain effective against hospitalization and death from Covid-19

In Brazil, there are already three confirmed cases of the new variant. Requests for consular assistance from Brazilians detained in African countries do not stop increasing and who are in this situation It was registered by the Ministry of Foreign Affairs.

Nor did the US central bank’s Beige Book help maintain optimism, as it indicated the resumption of economic activity only moderate In most US states. According to the Federal Reserve, performance faltered due to a lack of supply and also due to labor scarcity in many regions, with consumer spending growing only moderately.

NS Ibovespa, which rose more than 2% in the morning, following international markets, halted gains and again approached 100,000 points. Investors spent the day observing Congress, where senators Agreed to the appointment of Andrei Mendonka to the Federal Supreme Court (STF) After a full day of hearings – but the most important topic for the market was the vote on the PEC of Precatório, which was not voted on in plenary during the opening of the trading session.

In anticipation of delays, the PEC vote on tomorrow’s agenda is also scheduled (2). The government is still negotiating changes to ensure the scoreboard has a margin that guarantees the quorum needed to approve the text, i.e. 49 votes in favor in two rounds.

The proposed amendment to the constitution is intended to make room for the 2022 budget, and to defer payment of the union’s judicial debts, the prior order. Thus, the government could pay Auxílio-Brasil R$400 without breaking the spending cap, a measure that initially met resistance in the market, but is today considered an alternative that is considered “less bad” in terms of financial risk.

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Read more: Q3 GDP should be determined by services and soon to stabilize

Ibovespa ended the day 1.12% lower at 100,774 points, repeating the worst closing result since November last year. The trading volume on the day was, again, above average, at R$34.8 billion. Ibovespa futures for December were down 1.56% to 100,925 points, in the last trading of the day.

“The exchange remains very sensitive to the political scenario and any news in this regard makes prices in the market,” Alexandre Brito, Director of Finacap Investimentos, said about a possible postponement of the vote in PEC dos Precatórios.

The trading dollar closed at an intraday high, up 0.63% to R$5.670 in purchases and R$5.671 in sales. The dollar futures contract due in January 2022 is operating at a high of 1.27%, at R$ 5.729, in the last trading of the day.

In the interest futures market, the extended session ended with the DI for January 2023 settling at 11.78%; DI stock for January 2025 rose nine basis points to 11.49%. The DI for January 2027 rose 13 basis points to 11.44%.

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In New York, indices, which traded sharply higher for most of the day, reflected a hint of concerns about the omicron variable. The Dow Jones index closed down 1.34% to 34.022 points. The S&P fell 1.18% to 4,512 points. The Nasdaq closed 1.83% lower at 15,254 points.

In a new speech to the US Congress, Federal Reserve Chairman Jerome Powell spoke again that inflation is not temporary and gave new signals about accelerating the withdrawal of stimulus in the country. Since the pandemic began, the monetary authority has been buying billions of dollars in Treasuries daily to heat up the economy. The Fed already cut buying in November and may accelerate tapering this month, Powell noted.

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In Europe, the Stoxx 600 Index, which aggregates shares of 600 companies from all major sectors in 17 European countries, closed more than 1% higher.

Oil prices made zero gains and closed lower: a barrel of Brent oil closed 0.42% lower at $69.52. West Texas Intermediate crude fell 0.15% to $66.28. The market will follow The meeting of the Organization of Petroleum Producing Countries and its allies (OPEC +), which may or may not set a new production target given the advancement of the omicron variant in the world.

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