The Federal Reserve (Fed) kept its benchmark interest rate unchanged at 5.25%-5.5% at its meeting on November 2, 2023, as expected by the market. The Fed cited "strong economic activity in the third quarter" as the basis for the decision. Recent data showed that U.S. gross domestic product (GDP) grew 4.9% in the third quarter.
Technical view: The VN-Index closed at 1,076.7 points last week, up 16 points, or 1.52%. This follows two consecutive weeks of losses totaling nearly 100 points. Trading volume remained low. After one year, the VN-Index is still at 1,076, which corresponds to the strong support area in the first five months of 2023. In conclusion, the rebound last week was only technical, and the market could resume its decline to form a second bottom.
Investment Ideas: In general, the appropriate strategy for traders is to observe more when the market has not accumulated enough. With an investment perspective, this is an area that can be bought when the price has discounted significantly from the peak.
- Movement of cash flows and capital flows
- Top stocks worth noting
- Macro data
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