Euro Area ECB President Lagarde Speech

In New York,  the Dow Jones Index gained 846 points or 1.89 percent on Friday. Gains were led by Caterpillar (4.10%), Home Depot (3.84%) and Goldman Sachs (3.61%).

The Dow Jones Index Closes 1.89% Higher

The Ibovespa surged 2.6% to close at 137,968 on Friday, reaching over one-month highs propelled by a global risk rally after Fed Chair Jerome Powell’s Jackson Hole remarks raised the odds of a September rate cut amid signs of a cooling US labor market. Major banks led the advance with Banco do Brasil, Banco Santander, Itaúsa and Bradesco rising between 2.9% and 4.4%, while hopes for easier financing also buoyed commodity names and lifted Vale about 2.5%. For the week the São Paulo exchange posted a gain of roughly 1.2%.

Ibovespa Surges to Over 1-Month High

The Central Bank of Paraguay unanimously decided to keep the policy interest rate at 6% in its August meeting. The committee highlighted favorable domestic economic indicators, with Paraguay’s monthly economic activity growing 4.8% in June and business activity up 5.6%, supported by services, manufacturing, and agriculture. Inflation remained moderate, with a monthly increase of 0.4% and an annual rate of 4.3%, while core inflation stood at 3.8%, in line with expectations. On the external front, global economic growth projections improved, commodity prices showed mixed trends, and US labor data increased the likelihood of a Federal Reserve rate cut in September. The MPC emphasized that inflation is expected to remain within target for 2025, with convergence toward 3.5% projected for 2026. The committee reaffirmed its commitment to price stability and will continue monitoring domestic and international developments to ensure policy goals are met.

Paraguay Leaves Interest Rate Unchanged

US stocks soared on Friday after Fed Chair Powell signaled the possibility of a September rate cut during his Jackson Hole speech, sparking the strongest cross-asset rally since April. The S&P 500 and Nasdaq climbed 1.5% and 1.9%, respectively, while the Dow Jones surged 846 points to a record intraday high. Speaking at the Fed’s annual Jackson Hole Symposium, Powell noted that the shifting balance of risks in the economy “may warrant adjusting our policy stance,” while cautioning that inflation pressures remain. Traders quickly ramped up bets on a 25 bps rate cut in September to roughly 91%. Tech the strength, with Tesla jumping 6.2% and Meta, Alphabet, and Amazon each gaining over 1.5%, while Nvidia rose 1.7%. Intel shares soared 5.5% after reports the Trump administration plans to take a 10% stake in the chipmaker. The rally allowed markets to recover from earlier weakness tied to megacap tech, leaving the Dow and S&P 500 with weekly gains and trimming the Nasdaq’s losses.

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The Dow Jones Index Closes 1.89% Higher

Ibovespa Surges to Over 1-Month High

Paraguay Leaves Interest Rate Unchanged

Dow Surges to Record as Powell Hints September Rate Cut

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Euro Area ECB President Lagarde Speech