Key facts
- Brazilian President Lula da Silva won a fourth term.
- A Brazilian ETF shed almost 15% after election results.
- Markets anticipate rate hikes from Canada and New Zealand central banks.
- Microsoft is expected to report $90.6 billion in revenue and $4.73 EPS.
- Amazon is projected to have $202 billion in revenue and $1.97 EPS.
- Alphabet revenue is seen at $128 billion with $3.00 EPS.
Global markets began the week with caution as investors assessed a mix of political developments and upcoming economic events. In Brazil, President Luiz Inacio Lula da Silva secured a fourth term, while a Brazilian ETF in Tokyo fell sharply. Meanwhile, Benjamin Netanyahu's Likud party in Israel faces an upcoming vote. Oil prices saw some easing as Qatari mediators engaged in de-escalation efforts in Tehran, though concerns over energy supplies persist following recent Houthi attacks. Central banks in Canada and New Zealand are expected to raise rates this week, while the US Federal Reserve, Bank of Japan, and European Central Bank are anticipated to hold steady. Earnings season is underway, with major technology companies like Microsoft, Amazon, and Alphabet set to release their results.