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PMIs for services in the USA and Brazil are awaited by investors, as well as ore prices, tensions in the Middle East and ORAN technology.
**employment data** in the US is in the spotlight this Tuesday (5), with future indices in the United States operating lower. The market is awaiting the release of the JOLTS report, which will provide job vacancy numbers, and is also keeping an eye on data on non-agricultural payrolls (payroll), which will be released on Friday (8). Resilience on either front could reduce interest rate cuts from the Federal Reserve (Fed) early on of next year.
Investors are anticipating next week's meeting where they expect the Fed to keep rates unchanged. According to CME Group's FedWatch tool, interest rate futures suggest a 58% probability that the central bank will begin cutting rates by March 2024. The **job opening numbers** and ** labor indices** will continue to be closely monitored by the market in the coming weeks.
1.World Exchanges
The performance of Asian stock markets was marked by widespread falls, influenced by the assessment of a series of economic data from the region. Hong Kong's Hang Seng index fell 1,91%, reaching its lowest level since November 2022. However, mainland China's CSI 300 index achieved a similar result by falling 1,9%, ending the day at 3.394,26 points, reaching the low of the last four years.
- Petrobras can celebrate! Exploration of new pre-salt layer that promises to yield BILLIONS of barrels of oil for the state-owned company should finally be authorized, says minister
- ExxonMobil celebrates Tenaris as Supplier of the Year 2024!
- Work on board or on land, in Macaé and Rio de Janeiro: on and offshore job openings today at Wood! The company is looking for professionals with intermediate, technical and higher education levels
- Explosion of wealth in the Brazilian Pre-Salt: R$ 10.320.000.000 to public coffers in 2024!
2. diary
This Tuesday's schedule highlights the Gross Domestic Product (GDP) for the third quarter in Brazil, which will be released by the Brazilian Institute of Geography and Statistics (IBGE) at 9 am. In addition, the publication of the Leading Employment Indicator, from Fundação Getúlio Vargas (FGV), and data from the monetary policy and credit operations by the Central Bank. At the same time, the PMI Index composed by IHS Markit will also be released.
3. Economic news
This Tuesday, the Chamber's Constitution and Justice Committee (CCJ) is expected to debate a proposed amendment to the Constitution (PEC) that aims to reduce the weekly working hours from 44 to 36 hours. Analysis of the constitutionality of the text is the starting point for processing the legislative proposal. At the same time, Minister Luiz Fux, of the Federal Supreme Court (STF), authorized the opening of an investigation to investigate federal deputy André Janones (Avante-MG) for the crimes of criminal association and embezzlement, following a request from the Attorney General's Office. (PGR). The inquiry aims to investigate the practice known as 'rachadinha' on the part of the parliamentarian, according to reports sent by opposition politicians and published in journalistic reports.
4. Political news
Luís Roberto Barroso, president of the Federal Supreme Court (STF), highlighted, on Monday (4), that the Court decides issues that divide society in accordance with the Constitution, emphasizing the independence of the court in this role. Still in the political sphere, the Chamber's Constitution and Justice Committee (CCJ) will analyze a proposal that seeks to reduce the weekly working hours from 44 hours to 36 hours, requiring a period of 10 years to come into force if approved.
5. Corporate Radar
In the corporate field, Eletrobras signed a contract with Infraestrutura Brasil Holding XX, a company controlled by funds managed by Pátria Investimentos, for the sale of 49% in the share capital of Special Purpose Companies (SPEs) Chapada do Piauí. Another highlight is Serena, which began operations at the Goodnight 1 wind project in Texas, its first venture in the largest energy market in the United States, Ercot. Finally, the Pague Menos Board of Directors appointed Jonas Marques as successor to Mário Queirós for the position of Chief Executive Officer of the company, in a transition process that will take effect from 2024.
Source: Estadão, Reuters and Agência Brasil
Source: InfoMoney
