Vietnam Insight

US stocks continue to hit new highs – the probability of a Fed rate cut rises. In Wednesday’s regular trading, the Dow Jones Industrial Average rose by 0.68%, the S&P 500 gained 0.62%, and the Nasdaq Composite advanced by 1.24%. On the monetary policy front, Fed Chair Powell reiterated on Wednesday that the central bank is in no hurry to cut rates, emphasizing that the US economy remains solid but continues to face inflationary pressures.

Resistance appears but cannot overwhelm the buyers. Short-term profit-taking pressure appeared, causing the VN-Index to lose nearly 10 points. Foreign investors maintained net selling, liquidity increased to an average level, the index closed the session with a wide amplitude and close to the lowest price of the session. This development is showing that the selling side has returned to dominate after a series of consecutive recovery sessions from 1,200 points to 1,250 points. We believe that in the short term, the sideway range of 1,200-1,270 points will be the main trend of the VN-Index and the index is expected to return to test the 1,200-1,210 point zone

Strategy: Investors observe the market, waiting for clearer disbursement signals. For stocks that violate the rules, investors can reduce the proportion to manage short-term risks.