American market fluctuates before the elections and Brazilian investors await the Copom
Apple weighs on investors' mood, oil declines after another American offensive against Iran and the BC statement becomes the focus here.
BY THE X-TRADER NEWS NEWSROOM · REPORTING FROM INFOMONEY · 3 MIN
The main New York indices closed mixed the day before, and investors' attention is divided between American politics and the monetary decision in Brazil. According to InfoMoney, the polls for the midterm legislative election in the US close this Tuesday, while the meeting of the Monetary Policy Committee, the Copom, takes place this Wednesday.
Apple's balance sheet was the main wear factor of the day. According to InfoMoney, the company's quarterly results were disappointing and worsened market sentiment. At the beginning of Tuesday's trading session (3/11), according to the Money Times, the Dow Jones lost 0.50% and was at 51,724.84 points. The S&P 500 gained 0.18%, to 7,555.33 points, while the Nasdaq added 0.59%, reaching 25,312.173 points.
According to Money Times, the election will choose 435 federal deputies, elected for two years, in addition to 35 of the 100 seats in the Senate, which have a six-year term. For Ryan Detrick, from Carson Group and contributor to CNBC, the markets may have a period of calm after the vote, according to InfoMoney. The Seu Dinheiro report recalls that the expression “lame duck” emerged in 18th century England to designate bankrupt investors, and that in the USA it began to describe politicians at the end of their cycle, without power.
In oil, the price fell after a fall in the previous session and another American offensive against Iran, according to InfoMoney. The movement keeps geopolitics at the center of attention for those who follow energy and American indices.
In Brazil, Selic is at 13.75%, and the market is betting on interest rates being maintained this Wednesday, according to InfoMoney. For those who follow the stock market and the exchange rate, the text released by the BC is what should affect local securities the most. The backdrop includes fiscal uncertainty and above-target inflation. In this context, the discussion on André Lara Resende's proposals to reduce the structural cost of public debt gains space. Wednesday's agenda also features Itaú's balance sheet, according to Seu Dinheiro.
What changes for the investor
For those who operate the stock market, Nasdaq, interest rates and the dollar, the day combines two readings. Outside, Apple's balance sheet and the election result should define Wall Street's mood in the coming trading sessions. Here, the Copom statement tends to be the main point of reference for Brazilian assets, because the market is already working to maintain the Selic rate. As the fiscal scenario and inflation above the target remain on the radar, reading the BC text should weigh more than the simple decision. This report does not provide a purchase or sale recommendation or price forecast.
Automatically translated from Portuguese.
