United States Fed Kashkari Speech

Australia S&P Global Manufacturing PMI Final

Japan Tankan Large All Industry Capex

Japan Tankan Large Manufacturing Outlook

Colombia’s central bank unexpectedly raised its policy rate by 25 basis points to 12.25% on its September meeting, the highest level since early 2024, as it seeks to bring inflation back toward target after years of above-target price growth. Four policymakers backed the increase, while two voted to hold and one favored a larger 50-basis-point hike. Annual inflation accelerated to 6.24% in August and is expected to remain above the upper end of the central bank’s 2%-4% target range through 2026 and 2027. The board said the decision maintained a restrictive monetary policy consistent with a declining inflation path in 2027. Meanwhile, recent data pointed to weaker economic activity, with urban unemployment rising to 9.1% in August and economic activity, manufacturing and retail sales falling short of forecasts in July. The decision came amid concerns over the country’s fiscal outlook, with the government facing a widening budget deficit and seeking discussions with the IMF.

Colombia Unexpectedly Raises Key Interest Rate

The Ibovespa rose 1.4% to close at 186,341 on Wednesday, supported by new election polls pointing to a tighter race and softer-than-expected US PCE inflation. President Lula and Flávio Bolsonaro entered the final days before the presidential election in a technical tie in a likely second-round runoff, according to Meio/Ideia and Indexa/Broadcast polls. The Meio/Ideia poll showed the candidates separated by just 0.5 percentage point in a potential runoff. Meanwhile, US PCE inflation came in slightly below estimates, easing some concerns over further Fed rate hikes. In contrast, Brazil’s PPI rose 2.5% year-on-year in August, accelerating from a 1.9% increase in July. Major banks gained, with Itaú and BB both up 4.7% and Bradesco rising 4.1%. Utilities also advanced, with Sabesp gaining 1.4%. CSN Mineração rebounded 5.2% from Tuesday’s losses, when it lowered its production outlook, as Chinese iron ore prices rose. On the month, the Ibovespa gained 5%.

Ibovespa Rises on Election Polls and Soft PCE Inflation

The S&P/TSX Composite Index fell 0.6% to close at 35,236 on Wednesday as losses in banking and mining more than offset gains among energy producers. Oil prices rebounded amid uncertainty over US-Iran negotiations, supporting energy stocks but pressuring credit-sensitive sectors as concerns over persistent energy-driven inflation remained. Most major banks traded lower, with RBC losing 1.1% and TD Bank shedding 0.9%. Imperial Oil rose 1.1%, while Suncor gained 10.7%. Meanwhile, gold prices reversed earlier gains, weighing on mining shares, with Barrick down 1%, Agnico Eagle shedding 1.3%, and Franco-Nevada losing 3.8%. First Quantum plunged 15.3% after a Panamanian commission urged the orderly closure of its Cobre Panama mine. On the month, the S&P/TSX Composite Index shed 2.1%.

TSX Drops as Banking and Mining Stocks Weigh

The Dow Jones Index fell 339 points or 0.66 percent on Wednesday to close at 51011 points. Leading the losses are Walmart (-2.59%), 3M (-2.56%) and Merck (-2.36%). Top gainers were Salesforce (1.89%), Apple (1.31%) and Amazon (1.24%).

Trending Symbols And Events

Most latest news, events and ideas for smart decisions

Latest News