Summary
US stocks were sharply higher on Thursday with both S&P 500 and Dow hitting a new record and Nasdaq up 3% as traders bet that the Federal Reserve can successfully achieve a soft landing. The Fed delivered a jumbo 50bps rate cut, the first decrease in borrowing costs in four years, and signaled further reductions ahead for this year and next. At the same time, new economic projections showed the central bank still sees the US economy growing steadily while revising its inflation forecasts lower.
VNINDEX closed at 1,264.90 (+5.95 points, +0.47%) with liquidity recovering above the 20-session average. The market had 231 green stocks and 148 red stocks. The group of stocks contributing to the market's increase included CTG VCB FPT while HPG VIC VRE contributed to the market's decrease. Excluding the basic materials group, the remaining industry groups all increased well. Foreign investors net bought more than VND 312.27 billion.
- World stocks: US stocks hit a new record
- Vietnamese stocks: Heading back to 1,300
- Macro news
- Business news: #CTP, #AGR, #VCI, #TEE, #MSB, #NVL
- Technical perspective and updated recommendations
- Event calendar
- Q&A
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