Rio Times Global Economy Briefing
The Big Three
Wall Street sets a record as services data looms The S&P 500 closed at 7,600.50, up 1.48%, its highest close since early June, as a tech-led rebound carried the index near its record high ahead of Wednesday’s ISM services PMI, which is expected to stay expansionary and keep Fed rate-cut timing uncertain.
Brazil lines up a rate cut to 14.00% When the Copom concludes its meeting on Wednesday, Brazil’s central bank is widely expected to trim the Selic rate to 14.00% from 14.25%, with roughly three-quarters of the market pricing a 25 basis-point cut as the easing cycle gets under way against a firm dollar index.
Gold holds above $4,000 as yields dip Spot gold at $4,059 an ounce rose 0.57% as the US 10-year Treasury yield eased slightly, supporting the metal’s safe-haven appeal while offering breathing room to emerging-market rate-setters.
