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U.S. Futures Rise Amid Optimism on Economy

U.S. stock-index futures rose, indicating the Standard & Poor’s 500 Index (SPX) will advance for a third day, as investors awaited reports on consumer confidence and initial jobless claims for signals of economic recovery.

(BLOOMBERG) London U.S. stock-index futures rose, indicating the Standard & Poor's 500 Index (SPX) will advance for a third day, as investors awaited reports on consumer confidence and initial jobless claims for signals of economic recovery.

Futures on the S&P 500 expiring in March gained 0.5 percent to 1,242.1 at 11:05 a.m. in London. The benchmark gauge has rebounded 13 percent since this year's low on Oct. 3 following better-than-forecast U.S. economic data and steps that euro-area leaders took to tame the region's debt crisis. Dow Jones Industrial Average Index futures expiring the same month added 53 points, or 0.4 percent, to 12,077 today.

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Geopolitics

What Lula Needs Now To Win: Move To The Center And Mea Culpa

Despite the leftist candidate's first-place finish, the voter mood in Brazil's presidential campaign is clearly conservative. So Lula will have to move clearly to the political center to vanquish the divisive but still popular Jair Bolsonaro. He also needs to send a message of contrition to skeptical voters about past mistakes.

Brazilian votes show a polarized national opinion with two clear winners: former president Luiz Inacio Lula da Silva and sitting president Jair Bolsonaro

Marcelo Cantelmi

-Analysis-

The first round of Brazil's presidential elections closed with two winners, a novelty but not necessarily a political surprise.

Leftist candidate and former president, Luis Inacio Lula da Silva, was clearly the winner. His victory came on the back of the successes of his two previous administrations (2003-2011), kept alive today by the harsh reality that large swathes of Brazilians see no real future for themselves.

Lula, the head of the Workers Party or PT, also moved a tad toward the political Center in a bid to seduce middle-class voters, with some success. Another factor in his first-round success was a decisive vote cast against the current government, though this was less considerable than anticipated.

The other big winner of the day was the sitting president, Jair Bolsonaro. For many voters, his defects turn out to be virtues. They were little concerned by his bombastic declarations, his authoritarian bent, contempt for modernity, his retrograde views on gender and his painful management of the pandemic. They do not believe in Lula, and envisage no other alternative.

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