Global Stocks and Brazil’s Ibovespa Set New Highs on US–China Détente Hopes and Brazil–US Tariff Overture

Overview

• Brazil’s Ibovespa closed at a record 147,429, while the real strengthened to about R$5.36 per dollar as risk appetite improved.
• Wall Street extended gains with fresh highs tested across major indexes, helped by strong tech and semiconductor sentiment and upbeat earnings expectations.
• Following a positive Lula–Trump meeting, Brazil and the United States plan to begin technical talks to address the 50% tariff surcharge on Brazilian goods, though no formal decision has been announced.
• US and Chinese officials flagged preliminary understandings—including potential moves on rare earths and tariff suspensions—before Trump and Xi meet Thursday, with any agreement still pending.
• Global optimism was reinforced by expectations of a 25 bp Fed cut and by a new US–Japan framework on critical minerals, while the dollar eased against major and emerging‑market currencies.