Vietnam Insight

U.S. annual inflation fell to 3.5% in June 2026. US stock futures edged higher on Wednesday after the major indexes posted gains in the previous session, as softer-than-expected inflation data reduced expectations of a near-term Federal Reserve interest rate hike. The annual US inflation rate slowed to 3.5% in June from 4.2% in May, coming in below forecasts of 3.8% as lower oil prices helped curb energy inflation. Consumer prices also declined 0.4% from the previous month, marking the first monthly drop since 2020. In Tuesday’s regular session, the S&P 500 and Nasdaq Composite rose 0.38% and 0.9%, respectively, while the Dow added 0.02%. Six of the 11 S&P sectors ended in positive territory, with technology, communication services, and energy leading the gains. Banking stocks also advanced following another round of strong quarterly earnings. Investors are now awaiting another wave of corporate results on Wednesday, including earnings from Johnson & Johnson, Morgan Stanley, and BlackRock.

Accumulating ahead of a breakout. VN-Index closed at 1,806.63 (+6.09 points, +0.34%), with trading volume returning to the 20-day average. Market breadth was positive, with 191 gainers and 113 losers. MCH, GAS, and BSR were the largest positive contributors to the index, while VIC, VHM, and VPL weighed the most on performance. Foreign investors recorded a net sell of VND195bn, mainly in CTG, VIC, and VPB, while posting net buys in BSR, PNJ, and STB.

Trading Strategy: For medium term positions, investors may focus on stocks with sideways accumulation patterns and strong earnings growth rather than solely on VN-Index movements. In the short term, investors should wait for the market to stabilize and rebuild an accumulation base before seeking opportunities, while limiting margin use as the broader trend remains sideways and geopolitical risks are resurfacing.

Current portfolio: MBB

Watchlist: HPG, Seucirities stocks (SHS, VND, VDS)