The Bovespa closed on Friday down (27), after the statements of the chair of the Federal Reserve, Janet Yellen, in the United States. The bag arrived to operate on high in early trading, setting the market movements the day before, when it was closed for holiday, but failed to sustain the gains.
The Ibovespa, the main indicator of the stock market, fell 0.87% to 49,145 points. Get stock quotes today. For the week, the stock fell 1.35%.
In May, there are cumulative decline of 9.01%. This year, however, the Bovespa accumulated appreciation of 13.15%.
Preferred shares of Petrobras fell 5.07%, the biggest drop of the trading session on day retreat in oil prices in the international market. The state's shares were the main downward pressure on the stock market, after reaching the highest price in seven months reached the previous trading day.
also continues endorsing caution in business at Bovespa concern investors with political news, including any new disclosures involving politicians close to President Michel Temer in exercise, Reuters reported.
In the morning, the US Commerce Department announced that US GDP had grown more than estimated in the first quarter.
stronger data from the US economy could lead the Fed, the US central bank to raise interest rates sooner than expected. The market's concern is that, with this, investors end up preferring to apply in the US.
This afternoon, the chair of the Fed, Janet Yellen, said the US Central Bank should raise interest rates "in the coming months" if economic growth improve as expected and jobs continue to be generated, Reuters reported.
"The economy continues to improve ... the growth seems to be improving," Yellen said in remarks in Boston. "If it continues and if the labor market continues to improve, and I expect this to happen in the coming months ... such a move (higher interest rates) will be appropriate.