Friday’s Morning Call: U.S. Bank Earnings, Brazilian Service Data Impact Markets
This Friday marked a significant day in financial markets with the commencement of the first-quarter 2024 earnings season in the US, led by major American banks such as JPMorgan, Citi, and Wells Fargo.
These institutions report their financial outcomes before the opening of the New York stock exchanges, a routine that sets the tone for market expectations.
Additionally, BlackRock, the world’s largest asset manager, revealed its performance for the first three months of the year.
In Brazil, the spotlight is on the economic data released by the Brazilian stats agency IBGE which detailed the service sector’s performance for February.
This data is pivotal as it influences revisions to Brazil’s GDP forecasts for 2024.
Following positive retail performance data from the day before, there is an anticipation of bolstered economic growth for the year.
Analysts had predicted a modest 0.2% increase in service volume for February after a 0.7% rise in January.
A confirmation of these numbers would represent the fourth consecutive month of positive activity in the sector, with an expected annual increase of 4.7%.
This growth is primarily driven by improvements in services provided to households, boosted by a strong job market and rising wages.
The global economic data were also under scrutiny, with updates on China’s trade balance for March and Argentina’s inflation figures set to be released later in the day.
Such international indicators play a crucial role in shaping market sentiments globally.
On the local front, the Brazilian stock market experienced a downturn, with the Ibovespa falling 0.51% to close at 127,396 points, despite briefly nearing 130,000 points earlier in the week.
Friday’s Morning Call: U.S. Bank Earnings, Brazilian Service Data Impact Markets
Meanwhile, the U.S. dollar rose slightly against the Brazilian real, reflecting a cautious investor sentiment amid fluctuating U.S. interest rates.
In contrast, U.S. markets responded positively to a slowdown in producer price inflation, which buoyed investor confidence.
The Dow Jones closed nearly unchanged, while the S&P 500 and Nasdaq saw gains, with the Nasdaq reaching a new high of 16,442 points.
This divergence between Brazilian and U.S. market trends underscores the varied impact of economic data and policy expectations across different regions.
Live Market IntelligenceBrazil Morning Call — Live Board
Rio Times · Live Market Intelligence
Brazil Morning Call — Live Board
+2.44%
177,547.57
+2.44%
67,298.78
+0.88%
11,009.22
+0.50%
3,379,771
+0.00%
2,297.00
-0.19%
57,575.02
—
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 177,547.57 | +2.44% | +32.46% | 173,325.65 | — | — | — |
| USD/BRL | 5.06 | +0.05% | -9.11% | 5.05 | 5.06 | 5.04 | — |
| EUR/BRL | 5.76 | -0.58% | -11.65% | 5.80 | 5.78 | 5.76 | — |
| SELIC | 14.25% | — | — | — | — | — | |
| BRENT | 93.11 | -1.02% | +35.91% | 94.07 | 86.64 | 85.01 | 20,772 |
| WTI | 90.86 | +4.64% | +39.25% | 86.83 | 90.88 | 87.32 | 111,977 |
| IRON ORE | 161.91 | — | +64.76% | 161.91 | 161.91 | 1 | |
| GOLD | 4,089 | -1.41% | +20.46% | 4,147 | 4,144 | 4,075 | 50,581 |
| SILVER | 58.86 | -1.93% | +49.85% | 60.02 | 60.36 | 58.81 | 10,058 |
| LITHIUM | 69.00 | -0.12% | +58.73% | 69.08 | 69.65 | 68.95 | 261,058 |
| SOY | 1,244 | +0.85% | +23.64% | 1,233 | 1,245 | 1,236 | 23,590 |
| CORN | 488.00 | +5.63% | +22.46% | 462.00 | 489.25 | 483.00 | 46,324 |
| WHEAT | 705.75 | +0.00% | +30.57% | 705.75 | 710.00 | 698.25 | 17,147 |
| COFFEE | 316.70 | +0.02% | +5.09% | 316.65 | 321.30 | 312.55 | 2,161 |
| SUGAR | 14.87 | +0.88% | -8.44% | 14.74 | 14.88 | 14.73 | 13,468 |
| ORANGE JUICE | 147.50 | +2.57% | -56.17% | 143.80 | 150.50 | 140.55 | — |
| COTTON | 81.64 | +2.22% | +22.55% | 79.87 | 81.75 | 79.75 | 3,651 |
| BEEF | 219.20 | -3.30% | -3.45% | 226.68 | 222.55 | 218.83 | 22,518 |
| CATTLE | 336.15 | -3.83% | +1.40% | 349.55 | 344.00 | 335.00 | 11,864 |
| COCOA | 5,362 | +0.64% | -36.47% | 5,328 | 5,411 | 5,194 | 3,066 |
| PETR4 | 42.58 | +2.21% | +35.82% | 41.66 | 42.74 | 41.97 | 38,183,300 |
| VALE3 | 75.10 | +3.96% | +30.61% | 72.24 | 75.25 | 73.34 | 17,699,600 |
| SUZB3 | 42.66 | +2.47% | -16.78% | 41.63 | 42.69 | 41.65 | 4,974,100 |
| KLABIN | 17.93 | +1.93% | -2.74% | 17.59 | 18.00 | 17.64 | 4,305,400 |
| SLCE3 | 13.96 | +1.53% | -12.41% | 13.75 | 14.01 | 13.71 | 4,319,100 |
| ABEV3 | 16.13 | +2.09% | +20.37% | 15.80 | 16.14 | 15.74 | 28,786,900 |
| ITUB4 | 42.90 | +0.87% | +26.25% | 42.53 | 42.98 | 42.27 | 21,968,600 |
| BBDC4 | 18.97 | +2.26% | +21.37% | 18.55 | 18.97 | 18.50 | 36,435,800 |
| BBAS3 | 21.09 | +1.01% | +6.03% | 20.88 | 21.13 | 20.72 | 19,245,300 |
| B3SA3 | 15.90 | +4.81% | +21.65% | 15.17 | 15.92 | 15.21 | 46,018,300 |
| WEGE3 | 46.74 | +10.05% | +13.12% | 42.47 | 47.06 | 44.80 | 34,056,700 |
| PRIO3 | 59.77 | +2.73% | +40.37% | 58.18 | 59.99 | 58.66 | 5,034,400 |
| RENT3 | 37.14 | +1.61% | +3.74% | 36.55 | 37.57 | 36.42 | 16,101,400 |
| AZZA3 | 17.81 | +1.89% | -50.51% | 17.48 | 17.81 | 17.06 | 1,753,800 |
| CSNA3 | 5.38 | +6.32% | -37.15% | 5.06 | 5.43 | 5.09 | 13,057,800 |
| GGBR4 | 24.06 | +2.43% | +42.28% | 23.49 | 24.09 | 23.46 | 7,453,900 |
| ENEV3 | 25.97 | +2.16% | +88.19% | 25.42 | 26.08 | 25.32 | 5,925,700 |
| LREN3 | 13.54 | +2.03% | -22.27% | 13.27 | 13.59 | 13.29 | 8,223,100 |
LatAm Markets: Live Signals → — real-time movers, turnover leaders and FX across Latin America.