FX.co ★ Ibovespa Slips Amid Tech Caution and Fed Rate Concerns

On Tuesday, the Ibovespa index fell below 157,000 points, influenced by global market trends and the cautious mood surrounding US technology stocks ahead of Nvidia's earnings report scheduled for Wednesday. Investor sentiment was further dampened by diminishing expectations of an immediate interest rate cut by the Federal Reserve and the upcoming official US labor market data release on Thursday, following the lack of economic reports due to the government shutdown. This environment contributed to losses among major banks, with Itaú slipping 0.4%, Bradesco decreasing 1%, and Banco do Brasil dropping 1.3%. Additionally, Vale's shares fell by 0.7%, and Petrobras experienced a slight 0.1% decline, despite strong commodity prices. WEG and Rede D'Or also saw declines, with reductions of 0.3% and 1%, respectively. Conversely, Axia experienced a 0.4% increase after Fitch Ratings revised its outlook on the company's foreign and local currency ratings from stable to positive, with ratings at "BB-" and a national rating of "AA(bra)." Meanwhile, Ambev managed a modest gain of 0.2%.