Vietnam Insight

Waiting for the November jobs report. US stock futures were little changed on Tuesday as investors awaited the November jobs report, which is expected to provide further insight into labor market conditions. October retail sales data is also due later today, while the November consumer price index will be released on Thursday. In Monday’s regular session, the Dow slipped 0.09%, the S&P 500 fell 0.16% and the Nasdaq Composite declined 0.59%, pressured by losses in major artificial intelligence names. Among individual stocks, Broadcom fell 5.6% and Oracle dropped 2.7%, extending recent declines after Broadcom flagged margin pressures and Oracle issued softer guidance. These developments revived concerns about the profitability and financing of large-scale AI investments. ServiceNow plunged 11.5% after announcing the acquisition of Moveworks, underscoring its deeper push into AI. Meanwhile, more reasonably valued segments of the market saw inflows, including healthcare, utilities and consumer discretionary stocks.

The correction index is below the psychological support level of 1,700. The VNINDEX closed at 1,646.01 (-0.88 points, -0.05%) with lower liquidity than the 20-session average. The market saw 126 gainers and 188 decliners. The stocks contributing the most to the index's rise were VPB, TCX, and BSR; the stocks hindering the market were VPL, VIC, and VHM. Foreign investors were net buyers with a value of nearly 696 billion VND, focusing on the securities stock group.

Trading Strategy: Investors are watching stocks that have held their value well during the correction of the VIC group. If the market shows signs of rebounding near the 1,600 level, it could present an opportunity to initiate new purchases; however, caution is still advised as liquidity and market sentiment remain weak.