Brazilian stocks rallied after Flavio Bolsonaro's election victory over incumbent Luiz Inacio Lula Da Silva by approximately 2 percentage points, leading the iShares MSCI Brazil ETF (EWZ) to jump 12%. U.S.-listed shares of Itau Unibanco and Banco Bradesco each soared over 13%.
In the tech sector, PTC's shares surged 36% after announcing its acquisition by Schneider Electric for $205 per share, valuing the deal at over $22 billion, with an expected closure by the third quarter of 2027. Wells Fargo's shares rose 1% following a Morgan Stanley upgrade to overweight, with analyst Manan Gosalia highlighting improved balance sheet growth and potential for higher returns.
DraftKings saw a more than 5% increase after Bank of America upgraded its rating to buy, citing the potential for $400 million in fees from prediction markets by 2027. Estee Lauder's stock increased by 2.8% due to a Barclays upgrade, which expressed optimism about the company's growth and earnings.
Harley-Davidson shares rose 5.7% after Citi upgraded its rating to buy, anticipating benefits from new product introductions and cost savings. Overall, these movements reflect positive sentiment in various sectors driven by political developments and favorable analyst assessments