Good morning!
Here are the latest market updates and key economic and political news this morning:
Financial Markets:
• S&P 500: +0.16%
• Dow Jones: +0.08%
• Nasdaq: +0.22%
• STOXX600 (European Index): -0.06%
Middle East Tensions and Impact on Oil:
• Hezbollah-Israel Conflict: Hezbollah fired hundreds of rockets and drones at Israel, which responded with a massive airstrike. This raises fears that the conflict could escalate into a regional war, possibly involving Iran and the US. • Oil Prices: As a result of the tensions, Brent futures rose 0.5% to $$ 79.39, while U.S. crude also rose 0.5% to $$ 75.19.
U.S. Economy:
• Strategic Petroleum Reserve: The U.S. Department of Energy purchased nearly 2.5 million barrels to replenish its reserves.
Interest Rates: Comments from Fed Chairman Jerome Powell indicate that interest rate cuts are imminent, which helped boost stocks last week.
Highlights in Brazil:
• STF and Economic Issues: The Supreme Federal Court (STF) will discuss issues that could significantly impact public finances, including the inclusion of ISS in the PIS/Cofins calculation base and social security collection in the rural sector.
• Measures to Reduce the Price of Natural Gas: The federal government will announce measures to update the natural gas market, enabling the direct sale of gas from the Union.
• Fires in Sugarcane Plantations in SP: Fires in sugarcane areas in the interior of São Paulo have already caused losses of R$$ 350 million. There are suspicions of arson, and the police have arrested suspects.
These are the main news and market movements this morning. Follow closely the developments, especially the tensions in the Middle East and the decisions of the Supreme Court, which can have significant impacts on the markets and the global economy.