FX.co ★ Ibovespa Slips After Yesterday's Record

The Ibovespa fell below 146,500 on Wednesday, retreating from a record high set in the previous session. Market sentiment improved after President Trump adopted a more conciliatory approach toward Brazil, commending President Lula and hinting at the possibility of a meeting following Lula's address at the United Nations. President Lula remains in New York for a press conference before his return to Brasília. Additionally, investors are monitoring Finance Minister Haddad's congressional testimony for updates on critical economic reforms. Internationally, Federal Reserve Chair Jerome Powell maintained the current guidance after implementing a 25 basis point interest rate cut, with markets nearly factoring in another potential rate adjustment in October. In the stock market, Petrobras advanced by 1.2%, and Vale increased by 0.3%, while banking stocks showed mixed performance: Itaú declined by 0.2%, and Banco do Brasil rose by 2% after Citi raised its price target to R$29.