This positive momentum, mirroring the upbeat sentiment on Wall Street, propelled the Ibovespa to close up 0.56% at 128,815.86 points.
Food retailers’ performance notably elevated the session, playing a crucial role in driving the index higher.
In contrast, Casas Bahia experienced a steep fall, tumbling 13.52%, marking it as the session’s largest loser.
Attention among investors was captured by Jerome Powell, the Federal Reserve Chair, during his address to the U.S. Congress.
The U.S. ADP employment report showed fewer-than-expected private sector job additions last month, with 140,000 positions added against the anticipated 150,000.
The Brazilian Institute of Geography and Statistics (IBGE) reported a 1.6% month-over-month industrial production decline in January, adjusted for seasonality.
Nonetheless, on a year-over-year basis, production saw a rise of 3.6%, reflecting the complex dynamics influencing Brazil‘s economic landscape.