Vietnam Insight

US stocks closed sharply in the red on Thursday, as the Dow Jones tumbled 539 points marking the fourth losing streak and the biggest daily drop since March 2023. Meanwhile, the S&P 500 and the Nasdaq declined 1.2% and 1.4%, respectively. The market sentiment leaned towards expectations that the Federal Reserve might reduce interest rates this year, following the release of data on job cuts and unemployment claims. Investors also considered recent comments from Fed Chair Powell, who reiterated that despite inflationary pressures, it could be appropriate to start lowering interest rates this year.

VNINDEX closed at 1,268.2 (-3.2 points, -0.25%) with slightly lower liquidity compared to the previous session. The market had 110 stocks in the green and 379 stocks in the red. The stocks that contributed to the market's decline were GVR TCB CTG. On the other hand, the stocks that contributed to the market's increase were VCB VNM and HVN. Most sectors fell, with the basic materials and chemical sectors falling the most.

• World stocks: U.S. stocks fall as prospects for rate cuts dim
• Vietnamese stocks: Struggle at the support zone
• Macro news
• Business news: #REE, #SCD, #TLG, #TVB, #SAB, #ACB
• Technical perspective and updated recommendations 
• Event calendar
• Q&A