Vietnam Insight

The November jobs report came in slightly above forecasts. US stock futures edged lower on Wednesday as mixed labor market data failed to strengthen expectations for further Federal Reserve interest rate cuts. The November jobs report showed payroll growth of 64K, slightly above forecasts, but October figures were revised sharply lower and the unemployment rate rose to 4.6%, the highest since 2021, underscoring a gradually cooling labor market. Retail sales were flat on the month, reinforcing signs that consumer demand is losing momentum. In regular trading on Tuesday, the Dow and the S&P 500 fell 0.62% and 0.24%, respectively, while the Nasdaq Composite gained 0.23%, supported by a rally in Tesla to a new record high. Investors are now looking ahead to remarks from Federal Reserve officials Christopher Waller and John Williams later on Wednesday, as well as the closely watched November consumer inflation report due on Thursday.

The correction index is below the psychological support level of 1,700. VNINDEX closed at 1,679.18 (+33.17 points, +2.02%), with liquidity flat against the 20-session average. The market had 253 rising codes and 66 declining codes .Stocks contributing the most to the index's gain were VHM, VPL, and HDB.Stocks hindering the market were VCK, DGC, and GEE. Foreign investors posted only a negligible net buying position.

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.

Buy Recommendation: MBB