The Ibovespa gained about 0.5% to trade near 160,000 on Friday, as investors assessed the latest decisions from Copom and the Fed. Copom’s cautious tone and helped ease the political volatility that had recently pushed futures rates higher, with the committee keeping the Selic at 15%. Abroad, investors digested the Fed’s rate cut and maintained positive expectations for further easing in 2026. Although the move was widely expected, Powell’s comments and the statement were seen as less hawkish than feared. Most major banks traded higher, with Bradesco up 0.3% and both Itau and Banco do Brasil rising 0.6%. Petrobras advanced 0.6% as oil prices held steady. In contrast, Vale sank more than 5% on weaker iron ore quotes. Utilities outperformed, with Axia up nearly 1% and Sabesp rising 0.4%. WEG gained 0.3%, while Ambev added 0.4%.