The Ibovespa jumped 2.6% to close at 192,114 in a highly volatile session ahead of Sunday’s first round of elections. The index posted strong gains early in the session amid a favorable external backdrop, then erased them on political risks before regaining momentum. The proximity of the election keeps demand for hedging elevated. When markets reopen on Monday, the election result, the composition of Congress and signals on fiscal policy are likely to carry greater weight in the pricing of Brazilian assets. Meanwhile, oil prices fell after the G7 agreed to release strategic reserves to ease mounting fuel costs, reducing concerns over energy-driven inflation. Softer-than-expected US payrolls also supported credit-sensitive stocks as expectations of a Fed rate hike this month declined. Financials gained, with Bradesco up 3.2%. Utilities advanced, Axia rose 2.8%. Petrobras added 2.8%, while WEG gained 3.8% and Rede D’Or rose 3.6%. The Ibovespa added 4.7% on the week.

Ibovespa Jumps Ahead of Election

The Dow Jones Index went up by 250 points or 0.49 percent on Friday to close at 51177 points. The rise was led by Cisco Systems (3.14%), Caterpillar (2.30%) and UnitedHealth (1.77%). On the downside, the weakerst performers were Nike (-3.61%), IBM (-1.36%) and Amgen (-1.10%).

The Dow Jones Index Closes 0.49% Higher

The S&P/TSX Composite Index rose 1% to close at 35,503 as the oil rally stalled, easing concerns over energy-driven inflation and pushing Canadian bond yields lower. Softer-than-expected US payrolls also supported rate-sensitive stocks as expectations of a Fed rate hike this month declined. Financials gained, with CIBC up 1.1% and Great-West Lifeco rising 2%. Technology stocks advanced as well, tracking strength in the Wall Street AI trade, with Shopify up 1.7% and Celestica jumping 3.9%. Miners gained despite lower gold prices, as reduced expectations of a Fed rate hike following the weaker US jobs data supported the outlook for the metal. Agnico Eagle rose 2.1%, while WPM added 2.6%. Meanwhile, Prime Minister Carney said Canada will fast-track approval of a proposed crude oil export pipeline to the West Coast, a key part of his efforts to diversify the economy away from the US.

TSX Advances as Oil Rally Stalls

US stock indices closed higher on Friday after a weaker-than-expected jobs report prompted investors to pare bets on further Fed tightening. The S&P 500 rose 0.7%, the Dow added 250 points, and the Nasdaq gained 1% to close at a record 30,808. Nonfarm payrolls increased by just 29,000 last month, well below expectations for a 90,000 gain. Employment figures for the previous two months were also revised lower. Fed rate expectations eased following the data. Meanwhile, oil prices declined, helping support the bond market, providing an additional boost to equities. Credit-sensitive stocks gained, AI companies, which are facing record levels of debt issuance, closed mostly higher. Nvidia rose 1.3%, Broadcom gained 3.3%, and AMD added 2.9%. Among hyperscalers, Alphabet rose 1.6%, Amazon gained 1.3%, and Oracle added 3.1%. Tesla jumped 4.6% after reporting better-than-expected third-quarter sales. On the week, the S&P 500 rose 0.2%, the Nasdaq gained 1.3% and the Dow added shed 319 points.

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市場快訊

Ibovespa Jumps Ahead of Election

The Dow Jones Index Closes 0.49% Higher

TSX Advances as Oil Rally Stalls

Wall Street Gains on Soft Jobs Report