U.S. Stocks in Focus | Bolsonaro's Election Performance Beats Poll Expectations, Brazilian Concept Stocks Strengthen Collectively

Zhito Finance APP has learned that on Monday, Brazilian concept stocks strengthened collectively after the U.S. stock market opened. As of press time, financial platform XP Inc (XP.US) rose more than 30%, digital bank Nu Holdings (NU.US) rose more than 13%, Petroleo Brasileiro (PBR.US) rose more than 10%, Vale (VALE.US) rose more than 4%, and MercadoLibre (MELI.US) rose more than 6%. On the news front, the first-round results of Brazil's presidential election were released, with Flavio Bolsonaro leading incumbent President Lula by about 47% to about 45%, performing better than previous polling expectations. The two will face off in a second round on October 25. Investors are focused on his policy proposals to tighten fiscal policy, control public spending, and reduce corporate tax burdens.