Euro Area ECB President Lagarde Speech

In New York,  the Dow Jones Index gained 675 points or 1.65 percent on Friday. Gains were led by Nvidia (5.33%), JPMorgan (3.84%) and American Express (3.76%).

The Dow Jones Index Closes 1.65% Higher

The Ibovespa surged 2.6% to close at 128,957 level on Friday, securing a robust weekly gain of 3.1% as improved fiscal data eased concerns over the Lula administration’s commitment to sustainable fiscal discipline. Gross public debt as a percentage of GDP unexpectedly declined to 75.3% in January, down from 76.1% in the previous month and below the 76.2% forecast, driven by a record primary surplus of R$104 billion. Most stocks traded strongly, with Magazine Luiza leading the advance by surging 13.2% on stronger-than-expected earnings, while B3 extended its positive momentum with shares rising 11.2% on robust operational data, a billion-dollar victory at Carf, and increased trading volumes. Other notable performers included commodity giants Petrobras and Vale, which gained 4.4% and 3.2% respectively. Conversely, Natura lost over a quarter of its valuation after its fourth-quarter results showed adjusted EBITDA 35% below forecasts.

Ibovespa Posts Robust Weekly Gains

Stocks in the US wrapped up a tough week with a rally on Friday, as the S&P 500 jumped 2.1%, the Dow Jones popped 674 points, and the Nasdaq 100 rose 2.5%. Fears of a US government shutdown eased and investors shrugged off weak consumer sentiment data. Senate Minority Leader Schumer signaled support for a Republican-backed funding bill. However, the University of Michigan's consumer sentiment index plunged to 57.9, its lowest level since November 2022, reflecting growing uncertainty over inflation and tariffs. Tech stocks led the rebound, with Nvidia surging 5.3%, while Tesla, Meta, Amazon, and Apple all gained more than 1%. Meanwhile, Palantir jumped 8.3% despite concerns about potential defense spending cuts. For the week, the S&P 500 lost 4.3%, worst performance since March 2023, while the Dow Jones and Nasdaq gave up 4.6% and 4.9%, respectively.

US Stocks Rally to End a Tough Week

The S&P/TSX Composite Index climbed 1.4% to close at 24,553 on Friday, trimming weekly losses to 0.8% and rebounding from four-month lows as encouraging economic data and the prospect of a policy turnaround lifted investor confidence. Manufacturing sales rose 3% year-on-year in January and wholesale sales increased 2.8%, underscoring economic resilience amid persistent U.S. trade tensions. Additional support came with the impending swearing-in of former central banker Mark Carney as prime minister, expected to counteract U.S. tariff threats on Canadian goods. The recovery was led by tech and financial heavyweights, with e-commerce leader Shopify surging 4.3% to recover from sharp losses, and with Constellation Software and Celestica gaining 1.5% and 5.5% respectively. Additionally, major financial institutions including RBC, TD Bank, Brookfield, and BMO recorded gains between 1.6% and 3.2%.

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Euro Area ECB President Lagarde Speech