Vietnam Insight

The November jobs report came in slightly above forecasts. US stock futures steadied on Thursday as investors positioned ahead of the closely watched November inflation report, which is expected to show price pressures remain above the Federal Reserve’s target. In extended trading, Micron Technology jumped about 7% after delivering better-than-expected fiscal first quarter earnings and revenue, alongside a strong outlook for the current period. Investors are now looking ahead to a fresh round of earnings later Thursday from Nike, Cintas, FedEx, FactSet and CarMax, among others. In regular trading on Wednesday, US equities declined, with the Dow down 0.47%, the S&P 500 falling 1.16% and the Nasdaq Composite sliding 1.81%. Losses were led by heavyweight semiconductor stocks linked to the artificial intelligence trade. Oracle sank 5.4% following reports that its largest data center partner, Blue Owl, declined to support the company’s plan to build a $10 billion data center. Nvidia also dropped 3.8%, Broadcom fell 4.5%, and AMD plunged 5.3%.

The correction index is below the psychological support level of 1,700. VN-Index closed at 1,673.66 (-5.52 points, -0.33%) with liquidity falling below the 20-day average. The market saw 114 gainers and 206 losers. The top contributors to the index's gains were VPL, GEE, and BID, while VJC, GAS, and CTG were the primary laggards. Foreign investors recorded a negligible net buy.

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: CTG