The Dow fell 1.08%, the S&P 500 dropped 1.35% and the Nasdaq Composite tumbled 1.87%. New orders for manufactured durable goods in the US plummeted by 5.2% in July 2023, following a downwardly revised growth of 4.4% in June and exceeding market expectations for a 4.0% decline. It was the sharpest decrease in durable goods orders since the aftermath of the COVID-19 outbreak in April 2020, driven by a significant drop in demand for transport equipment
The market gained more than 16 points and closed at 1,189 (+1.44%), with strong momentum spreading across most stocks. Specifically, the VNINDEX saw 400 stocks rise and only 107 stocks decline. Most industry groups showed increases, with the food and beverage as well as telecommunications sectors leading the gains, while the commodities and media sectors experienced declines.
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