The Ibovespa, Brazils primary stock market index, concluded its day on a high note, gaining 2,000 points to reach 128,800, thanks to a notable push from Vale.In contrast to the static state of major New York indices, the Ibovespa experienced a robust increase of 1.63%, settling at 128,857 points.This surge turned Aprils market performance positive, showing a 0.59% uptick.Despite the moderate trading volume, the anticipation surrounding upcoming March inflation data from both Brazil and the United States explains the markets cautious stance.This week, investors are keenly waiting for inflation updates from Brazil and the United States Consumer Price Index (CPI), set for release on Wednesday.Brazils Ibovespa Index Surges, Led by Vales Performance.
(Photo Internet reproduction)Following unexpectedly high payroll data, which suggests a warming United States economy, market predictions about United States interest rate cuts are now mixed.The CPI could provide clues on whether rate reductions will occur in June or at a subsequent meeting, according to economist Fbio Louzada.Pam Semezatto, a technical analyst at Clear, observed that the Ibovespa had been consolidating in the short term without showing significant buying or selling pressure.Despite this, the index approached a resistance area between 130,000 and 131,000 points on Monday.Vale (VALE3) significantly influenced the markets performance, with its shares soaring by 5.46%, marking the highest daily gain since September 1, 2023.Iron ore prices rose in China after the holiday break, boosting Vales stock in So Paulo.Banks also saw gains, with Bradesco (BBDC4) up by 0.69% and Ita Unibanco (ITUB4) increasing by 1.56%.The retail sector, benefiting from falling future interest rates, saw significant gains, with Magazine Luiza (MGLU3) rising by 4.09% and Assa (ASAI3) by 2.84%.Investor attention remained on Petrobras (PETR4), which fluctuated before closing up 1.39%.Speculation about leadership changes at Petrobras keeps investors cautious, according to Sidney Lima from Ouro Preto Investimentos.As the market anticipates data and developments, the focus might remain on major players like Vale.Market Updates:Ibovespa Closed Up: 1.63% at 128,857.16 pointsHigh: 129,178.14Low: 126,796.42Change: +2,053.33 pointsVolume: R$19.50 billionWeekly, Monthly, and Yearly Performance:Monday (8th): +1.63%Week: +1.63%April: +0.59%Q2 2024: +0.59%2024 Year-to-Date3.97%Currency and Global Market Updates:United States Dollar Against Real: Closed down by 0.67%Selling Price: R$5.031Buying Price: R$5.031Low: R$5.026High: R$5.075New York Indices: Ended the day near stability as investors await CPI and PPI updates.