The Ibovespa was slightly lower at the 157,000 level, tracking a negative global mood after as lingering concerns of higher inflation in the US drove key Fed policymakers to warn against the certainty of another cut this year. Meanwhile, the domestic earnings season continues with Azul down 6% after reporting an adjusted net loss of R$1.562 billion in the third quarter of 2025. Cosan fell 1.8% as it is set to release its results today. Oi had its bankruptcy suspended and will remain in judicial recovery. Vale lost over 1% as iron ore prices declined, while Petrobras gained 0.5% on higher oil prices.