Risk-On Rally Lifts Ibovespa to Record as Dollar Eases and Commodities Retreat

Overview

• The Ibovespa closed up 0.26% at 165,568 after touching 166,070 intraday, logging a second straight record as local appetite for risk improved and oil-led weakness in Petrobras trimmed gains.
• The dollar swung above R$5.40 before reversing to R$5.368 at the close, with the real ranking third-best among 33 major currencies tracked.
• U.S. equities advanced with the Dow up 0.60%, the S&P 500 up 0.26%, and the Nasdaq up 0.25% as investors digested easing geopolitical worries and solid bank and tech results.
• February Comex gold slipped 0.26% to $4,623.70 per ounce and crude fell more than 4%, reflecting profit-taking and reduced tensions between the U.S. and Iran.
• The Banco Central do Brasil ordered the extrajudicial liquidation of CBSF Distribuidora (formerly Reag) for serious violations, halting its activities and forcing fund transfers to new administrators.