Ibovespa futures rise 0.29% to 208,330 points
The Brazilian real strengthens as spot dollar opens down 0.53% at 5.9755 reais.
Ibovespa futures rose 0.29% to 208,330 points at around 9:00 a.m. Brasilia time on Tuesday, extending gains from the previous session. Investors reacted to the first round of Brazil's presidential election, which confirmed a runoff between Senator Flávio Bolsonaro of the Liberal Party and President Luiz Inácio Lula da Silva of the Workers' Party.
The Brazilian real gained ground as the spot US dollar opened down 0.53% at 5.9755 reais. That move aligned with global trends, as the DXY dollar index dropped 0.34% to 101.823 points.
The Ibovespa has already incorporated a relevant share of the electoral repricing. As a result, the short-term trend remains positive, but with a higher probability of volatility.
Market participants also tracked legislative gains by the Liberal Party and monitored potential second-round alliances. On the economic front, market forecasts tracked by Broadcast pointed to a projected September trade surplus of $7.35 billion.
International markets supported sentiment alongside falling US Treasury yields and declining oil prices. Around 9:10 a.m., S&P 500 futures gained 0.48% to 7,863.50 points, Dow futures climbed 0.66% to 51,899.00 points, and Nasdaq futures added 0.64% to 31,519.50 points. December Brent crude fell 2.50% to $97.81 per barrel on the ICE in London.
Share prices can rise and fall. Past performance does not guarantee future results. This article is news, not investment advice.
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