FX.co ★ Ibovespa on Weak Note

Brazil's Ibovespa index began Friday's trading session on a lower note, slipping below the 135,000 threshold and marking the second consecutive day of declines. Shares in major banking and retail firms experienced downturns, whereas stocks tied to commodities, such as Vale and Petrobras, saw gains. Investors were also digesting recent data from two fronts: the latest U.S. jobs report and Brazil's PMI manufacturing figures. Although U.S. job creation in April slowed, it still surpassed market expectations, leading to a tempered outlook on the possibility of an immediate interest rate cut by the Federal Reserve. Within Brazil, the PMI survey revealed a further weakening in manufacturing activity for April, with growth approaching stagnation. On a more upbeat note in trade relations, China announced that the U.S. has shown ongoing willingness to discuss tariffs and that Beijing remains open to negotiations, a move that could help ease ongoing tensions.