Ibovespa Rises as IMF Lifts Brazil Growth Outlook

The Ibovespa gained 0.4% to hover above 142,000 on Tuesday, after the IMF raised its growth forecast for Brazil.

The Fund now projects a 2.4% GDP expansion this year, 0.1 percentage point higher than in July, while cutting the 2026 estimate by 0.2 point to 1.9%.

Goldman Sachs revised its outlook for the banking sector, upgrading Bradesco (+1.4%) from sell to neutral and lifting its price target from R$15 to R$17.

Santander Brasil (-1.9%) was downgraded from neutral to sell, with its target cut from R$28 to R$26, as the bank faces weaker trends than private-sector peers.

The firm maintained a buy on Itaú (+0.7%) and a neutral on Banco do Brasil (+0.3%), citing discounted valuations.

BTG Pactual (-2%) announced a merger with Banco Pan (+26.5%) through a stock swap that will delist Pan and simplify group operations.

Embraer (+1%) rose after TrueNoord placed a US$1.8 billion order for 20 E195-E2 jets.

In New York, the Dow Jones Index is losing 362 points.

Losses were led by Goldman Sachs (-4.82%), JPMorgan (-4.26%) and Nvidia (-3.76%).

Offsetting the fall, top gainers were Walmart (1.76%), Visa (1.49%) and Travelers Companies (1.26%).

The S&P/TSX Composite rose 0.5% to above the 30,000 mark on Tuesday, rebounding from Friday’s sharp downturn as miners, financials and tech led gains after a long weekend and after US-China trade tension that had triggered the selloff eased.

Major mining equities Agnico Eagle, Wheaton Precious Metals, Barrick Mining and Franco-Nevada led the advance, surging between about 2% and 5% as gold kept reaching record highs amid safe-haven demand.

Financials and techs also supported the index, with Brookfield up more than 3% and Constellation Software gaining over 2%.

Initial optimism over US–China relations was tempered, however, after both countries began imposing reciprocal port fees on each other’s shipments, stoking concern of further escalation, and China moved to sanction five US subsidiaries of South Korea’s Hanwha Ocean.

Stocks in the US fell on Tuesday, with the S&P 500 losing 1%, the Nasdaq falling 1.4% and the Dow Jones tumbling 370 points, led by steep losses in tech and consumer discretionary stocks.

Initial optimism over US–China trade relations faded as both countries began imposing new port fees on each other’s shipments, stoking concerns of further escalation.

Also, China imposed sanctions on five of South Korea’s Hanwha Ocean’s US subsidiaries.

Meanwhile, the earnings season got underway: JPMorgan fell 2.4%, after reporting slightly higher-than-expected provisions for credit losses at $3.4 billion.

Goldman Sachs declined 3.7% despite a revenue beat and Johnson & Johnson fell 0.7% after reporting higher-than-expected results and announcing it will separate its orthopedics business.

On the other hand, Citigroup was little changed after a profit climb, BlackRock jumped 1.7% after beating earnings and revenue estimates and Wells Fargo jumped 4% following a profit increase.

Stocks in the US fell on Tuesday, with the S&P 500 losing 1%, the Nasdaq falling 1.4% and the Dow Jones tumbling 370 points, led by steep losses in tech and consumer discretionary stocks.

Initial optimism over US–China trade relations faded as both countries began imposing new port fees on each other’s shipments, stoking concerns of further escalation.

Also, China imposed sanctions on five of South Korea’s Hanwha Ocean’s US subsidiaries.

Meanwhile, the earnings season got underway: JPMorgan fell 2.4%, after reporting slightly higher-than-expected provisions for credit losses at $3.4 billion.

Goldman Sachs declined 3.7% despite a revenue beat and Johnson & Johnson fell 0.7% after reporting higher-than-expected results and announcing it will separate its orthopedics business.

On the other hand, Citigroup was little changed after a profit climb, BlackRock jumped 1.7% after beating earnings and revenue estimates and Wells Fargo jumped 4% following a profit increase.

US stock futures fell on Tuesday, with S&P 500 and Nasdaq 100 contracts down more than 1% and Dow Jones futures slipping around 280 points, following a strong session the day before.

Initial optimism over US–China trade relations faded as both countries began imposing new port fees on each other’s shipments, stoking concerns of further escalation.

Rare earth stocks continued to rally, namely Critical Metals (+37%), USA Rare Earth (+8.1%) and Energy Fuels (+12%).

The earnings season also got underway: JPMorgan traded near the flatline before the open, after reporting slightly higher-than-expected provisions for credit losses at $3.4 billion.

BlackRock fell 0.3% despite beating earnings and revenue estimates, Goldman Sachs declined 0.8% despite a revenue beat, while Wells Fargo jumped 2.3% following a profit increase.