FX.co ★ Ibovespa Sets Record High

The Ibovespa index rose by 0.7% on Thursday to reach a record high of 139,334 points. This increase was largely driven by strong performance in the consumer discretionary sector, overshadowing declines in the energy sector. Companies such as Ambev, Localiza, BRF, and Rumo Logística saw gains ranging from 0.9% to 5.5%, indicating robust consumer activity. In contrast, power generator Eletrobras fell by 3.5% due to a first-quarter net loss. Internationally, a lower-than-anticipated US Consumer Price Index and a dovish shift by Fed Chair Powell regarding the employment–inflation balance raised hopes for interest rate reductions later this year. Additionally, Chinese Premier Li Qiang’s commitment to do "everything possible" to boost exports, supported by President Lula’s visit to Beijing and President Xi Jinping’s offer of a $9 billion credit line to Latin America, improved the outlook for global commodity demand, benefiting mining companies like Vale.