On January 22, 2025, the Ibovespa index closed at 122,954 points, reflecting a decrease of 0.33%. The dollar fell by 1.4% to R$5.95, while the euro dropped by 1.38% to R$6.20. Notable gainers included Azul (AZUL4) with a rise of 6.98%, CVC (CVCB3) at 6.36%, and LWSA (LWSA3) up 5.66%. Conversely, the most significant declines were seen in RADL3 at -4.52%, BRAV3 at -4.13%, and BEEF3 at -3.42%. The following day, January 23, the index decreased further to 122,483 points, down 0.40%. The dollar and euro also continued to decline, settling at R$5.93 and R$6.18, respectively. MRFG3, BRKM5, and YDUQ3 were the top performers, while BEEF3, MRVE3, and PCAR3 faced the largest losses. On January 24, the Ibovespa closed at 122,447 points, down 0.03%. The dollar fell slightly to R$5.92, while the euro increased to R$6.21. CSNA3, COGN3, and TOTS3 were among the top gainers, while CVCB3, LWSA3, and CRFB3 saw the most significant declines. Overall, the Ibovespa accumulated a nearly 2% increase in January, despite ongoing market caution.