Brazil: Ibovespa Marks Historic High.

The Ibovespa surged 1.1% to close at a fresh record 190,534 on Friday, rebounding from early losses as a landmark US Supreme Court ruling against global tariffs sparked a late session relief rally. While the court struck down reciprocal duties, removing a hurdle for Brazilian exports, the gain was tempered by President Trump immediately announcing a new 10% global tariff via executive order. Index heavyweight Vale rose 2.7% as iron ore found support, while banking giants Banco do Brasil, Santander Brazil, and Bradesco climbed roughly 2% each, benefiting from the removal of trade specific legal uncertainty. However, Petrobras dipped 0.7% as oil prices pared gains, and Ambev fell 1.1% on consumer concerns. Despite a soft US GDP print of 1.4% and sticky 3% core PCE inflation keeping the Fed on guard, the Brazilian benchmark posted a strong 2.2% weekly gain.