Ações de utilities e alta do ouro: como investir? | Expert Drops

XP Research Entramos na segunda semana do shutdown do governo americano, que se tornou mais do que um impasse orçamentário, virando quase um teste de força política com efeito dominó na economia real. Algumas empresas já reportaram seus resultados no exterior. Esperamos uma temporada internacional do 3º trimestre com crescimento de lucro por ação (LPA) em linha com as estimativas (link). O cenário é favorável, marcado por resiliência do consumidor americano, redução das distorções causadas por tarifas e guidances positivos. Por aqui, a temporada de balanços das empresas brasileiras deve começar com força a partir de 22 de outubro. Até lá, vale conferir as expectativas dos nossos analistas para os resultados que vêm por aí e o calendário de divulgação (link). Nesta semana, atualizamos nossa visão para as utilities brasileiras e iniciamos a cobertura da Neoenergia, CPFL e Light, as três com recomendação de compra (link). E, nos investimentos, tem sido destaque a alta do ouro, considerado por muitos o "porto seguro" do mercado financeiro mundial. Se você quer saber como investir no metal, confira o Aprenda a Investir (link). Acompanhe tudo nesta edição da Expert Drops. Toda semana, trazemos recomendações e análises na medida certa para você investir melhor. Conte conosco e até a semana que vem! DESTAQUES Calendário de resultados do 3º tri A temporada de resultados é a época na qual as empresas negociadas na Bolsa de Valores reportam o desempenho referente ao período trimestral mais recente. Consolidamos as datas de divulgação das empresas da nossa cobertura, e das que fazem parte do Ibovespa, confira aqui.  Ações de utilities para investir O setor de utilities mudou substancialmente durante a última década. O equilíbrio dos riscos mudou dentro dos subsetores, e abordamos alguns dos temas aos quais cada segmento está exposto. Confira nossas preferências para investir no nosso manual completo. O que esperar para a temporada internacional? Com o período de shutdown do governo americano, vemos que a temporada de resultados será ainda mais determinante para a direção da política monetária americana. A temporada refletirá um ambiente de resiliência do consumidor, mas com pontos de incerteza macroeconômica. Além disso, vemos que o impulso da depreciação do dólar pode perder força. Veja todas as expectativas aqui. Como investir em ouro? Apesar de o ouro ser visto como um investimento seguro em diversos cenários, por se tratar de uma aplicação cuja variação de preço acontece diariamente e em todo o mundo, é importante conhecer o mercado e suas nuances. Existem diversas formas de investir em ouro, como por meio de contratos futuros da Bolsa e fundos de investimento. Confira aqui. MAIS DESTAQUES DA SEMANA Contagem regressiva para a COP30 Em novembro, representantes governamentais e líderes da indústria de todo o mundo se reunirão em Belém para a COP30, Conferência da ONU sobre Mudança do Clima. Destacamos três temas-chave que devem dominar as discussões: validação e ampliação dos compromissos em meio a um cenário climático desafiador; aceleração da agenda global de descarbonização; e otimização do uso da terra e maximização da biodiversidade. Leia o relatório completo aqui. Eletrobras anuncia venda de participação na Eletronuclear A Eletrobras anunciou nesta semana a venda de sua participação acionária na Eletronuclear para a J&F por R$ 535 milhões. Embora esse valor esteja abaixo da nossa estimativa de valor justo para a participação e a leitura inicial numérica seja negativa, vemos o desinvestimento, juntamente com a transferência de obrigações futuras e passadas para o comprador, como um evento relevante de redução de riscos para a tese de investimento. Leia a nossa análise aqui. As ambições de crescimento da Embraer A Embraer comemorou seu aniversário de 25 anos de listagem em NYSE com seu Investor Day, reafirmando suas ambições até o final da década. Os executivos da empresa delinearam iniciativas para apoiar o crescimento, incluindo esforços de nivelamento de produção e investimentos contínuos em tecnologia e engenharia para fortalecer seu portfólio de produtos, preparando a empresa para oportunidades futuras. Saiba mais aqui. Bens de capital: o que esperar dos resultados Do lado positivo, esperamos resultados sólidos da Embraer, potencialmente trazendo alguma luz sobre as margens estruturais daqui para frente. Embora vejamos espaço limitado para o crescimento da WEG acelerar ainda, esperamos que a rentabilidade permaneça saudável. Vemos dinâmicas mistas para a Marcopolo e a Randon. Confira as expectativas para bens de capital aqui e todas as análises da temporada aqui. APRENDA A INVESTIR Cade? Conselho Administrativo de Defesa Econômica. É uma autarquia vinculada ao Ministério da Justiça e tem o propósito de zelar pela livre concorrência no mercado. Suas funções englobam investigar e decidir, em última instância, potenciais infrações à ordem econômica e processos de análise de atos de concentração. Zona do Euro? É formada por 20 países membros da União Europeia (UE) que adotaram o euro como a moeda oficial. O objetivo com isso é, além de facilitar as trocas comerciais, garantir estabilidade dos preços e das economias e segurança nas transações dentro da zona.   FMI? Estabelecido em 1944, na Conferência de Bretton Woods, o Fundo Monetário Internacional é uma organização global que busca alcançar o crescimento econômico sustentável de todos os seus países membros por meio de políticas voltadas a estabilidade financeira, cooperação monetária, incremento da produtividade e criação de empregos. O FMI é atualmente formado por 191 países e oferece assistência por meio de empréstimos e outras ajudas financeiras de acordo com as necessidades e circunstâncias específicas de cada membro.   AGENDA   Segunda-feira, 20 de outubro Brasil 8:25 Boletim Focus   Quinta-feira, 23 de outubro Estados Unidos 9:30 Pedidos de auxílio-desemprego   Sexta-feira, 24 de outubro Brasil 8:30 Nota do setor externo 9:00 IPCA-15 Estados Unidos 09:30 CPI   11:00 Confiança do consumidor   CALENDÁRIO DE DIVIDENDOS De ações De FIIs VÍDEOS 3 FIIs com ALTO DIVIDEND YIELD para INVESTIR em OUTUBRO de 2025 | Carteira XP https://www.youtube.com/watch?v=GX1uSWojPJY Os desafios do mercado global, com Caio Megale | Outliers InfoMoney https://www.youtube.com/watch?v=5g4BoaXHO9M       Confira todas as nossas análises e invista melhor Disclaimer 1) This report was prepared by XP Investimentos CCTVM S.A. 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