Lula's win sinks Brazil ADRs; XP falls 48%

Lula's runoff win sent Brazil-linked U.S. listings sharply lower, with XP down 48.3% to $15.71 and Bradesco off 28.0% to $2.93. S&P 500 futures were about -0.1% in the latest quotes, and no overnight open data was found.

Top News

XP XP Inc

XP closed down about 48% on Lula's runoff win, which overturned investor bets on a Bolsonaro victory (per GuruFocus).

BBD Banco Bradesco

Bradesco sank about 28% as Brazilian banks sold off on fiscal and political uncertainty after the election (per Yahoo Finance).

S&P futures

Latest quotes were mixed: S&P 500 futures about -0.1% and Nasdaq 100 futures about -0.3%, with traders waiting on Wednesday's Fed decision (per CNBC; FXStreet).

Hear today's briefing on YouTube →

Trending on X

MELI MercadoLibre

Fell 7.8% to $1,668.72 in the Brazil-linked selloff after Lula's victory reversed expectations for a Bolsonaro government (per Yahoo Finance).

NU Nu Holdings

Shares fell 17.0% to $12.59 after Lula's win, though Monness Crespi initiated coverage with a Buy (per Stocktwits).

CLS Celestica

Down 5.1% to $246.65 on the day, with no catalyst found in today's research.

AVGO Broadcom

Up 2.3% to $329.17 on the day, with a $1.54 trillion market cap.

MSFT Microsoft

Up 1.5% to $532.60 on the day, with a $3.89 trillion market cap.

AI Economy

NVDA Nvidia open racks

Nvidia contributed Vera Rubin rack designs to the Open Compute Project via MGX and joined AMD, Google and Meta on a spec for AI racks up to 250kW (per Data Center News).

NVDA Nvidia financing test

Nvidia's last filing showed $36 billion in off-balance-sheet backstops for neoclouds, on top of a guarantee of up to $105 billion for OpenAI's proposed Ohio campus (per CNBC).

Anthropic IPO filing

Tech shares led Monday's gains as enthusiasm built around Anthropic's plan to go public, lifting sentiment toward AI names (per CNBC; Yahoo Finance).