S&P 500 — US Large Cap Index
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IPC Index — Mexico Market
The Ibovespa fell 0.6% to close at 187,207 on Friday as the Supreme Court crisis continued to fuel political uncertainty, weighing on the country’s economic outlook. Chief Justice Edson Fachin ordered Justice André Mendonça to remove, within 24 hours, the secrecy surrounding proceedings related to investigations into Banco Master. This includes possible irregularities involving the financing of the film “Dark Horse,” which could affect Flávio Bolsonaro’s electoral prospects. Markets view Bolsonaro as more fiscally restrictive, while elevated domestic yields and weak business activity continue to weigh on the economic outlook. State-controlled financial stocks traded lower, with Banco do Brasil down 1.4%, BB Seguridade shedding 4.1%, and Caixa losing 2.4%. Utilities also posted losses, with Axia down 1.6%. CSN plunged 7.4% as investors booked profits, with the stock still up 4.2% on the week following a CEO change. The Ibovespa rose 1.1% on a weekly basis.
