Vietnam Insight

Waiting for the PCE price index. US stock futures were little changed on Tuesday after Wall Street notched another record-setting rally powered by megacap tech gains. On Monday, the S&P 500 and Nasdaq Composite rose 0.44% and 0.7%, respectively, with both indexes logging a third straight session of all-time highs. The Dow added 0.14% for its fourth consecutive gain. Nvidia climbed nearly 4% after unveiling plans to invest as much as $100 billion in OpenAI, while Oracle jumped 6.3% on leadership changes and sustained AI momentum. Apple rallied 4.3% on strong iPhone 17 demand, and Tesla advanced 1.9% on expectations of new products and self-driving progress. Looking ahead, the PCE price index, the Federal Reserve’s preferred inflation measure, is due Friday and could provide fresh insight into the monetary policy outlook.

Stagnant around the peak. VNINDEX closed at 1,634.45 (-24.17 points, -1.46%) with liquidity lower than the 20-session average. The market had 72 gainers and 262 losers. The stocks that contributed the most to the market's increase were BID, HVN, BSR while VIC, CTG, VHM contributed to the market's decline. Foreign investors net sold more than VND1,734 billion, concentrated in VHM, VIC, CTG.

Trading Strategy: Prioritize a hold strategy while being ready to sell when targets are achieved. For short-term traders: if the market corrects toward 1,600 and bounces, consider deploying a small allocation. If the index retreats to the 1,540 region, this would present a clearer medium-term buying opportunity. Investors can allocate more aggressively, focusing on stocks with strong drivers such as beneficiaries of the upgrade, companies with robust earnings growth, or those with valuations below the market average.

Buy Recommendation: MWG