Morning Call - The market continued to go up, oil prices broke out. Manufacturing PMI tends to decrease again


         The Dow Jones closed more than 320 points higher and the S&P 500 added nearly 0.4% on Monday, the first trading day of the second quarter, while the Nasdaq dipped 0.3%, as investors digest a surprise cut in oil output from OPEC+ and the impact it could have on inflation and the Fed's monetary policy. Money markets now see a 65% probability of a 25bps rate hike in the fed funds rate next month, compared to 55% earlier. Energy stocks including Exxon Mobil (5.9%), Chevron (4.1%), and Marathon Oil (9.9%) were up. European equity markets closed slightly lower on Monday, with the benchmark Stoxx 600 falling to 457, dragged by Germany's DAX while London's FTSE 100, France's CAC and Italy's FTSE MIB closed higher. Among sectors, oil and gas stocks rallied by 4%.

Global stock indexes in the past week had impressive gains. In the US, the S&P 500 index jumped 3.5% with banking stocks having recovered after the SVB event. In addition, the administration of US President Joe Biden has introduced a new proposal to strengthen the supervision of banks with assets between $100 billion and $250 billion. Closing Q1/2023 The S&P 500 and Nasdaq Composite jumped 7.03% and 16.77% respectively in the first quarter of 2023. It was also the Nasdaq Composite's best quarter since 2020. Dow Jones closes the first quarter of 2023 with a gain of 0.38%.

The market continued the excitement and opened a gap to gain at the beginning of the session. Market breadth skewed to the buyers with green predominating and maintained until the end of the session, helping the index close at the highest level. Vn-Index extended the gain for the 9th session in a row. Liquidity also improved indicating the consensus of cash flow. The technical indicators are showing positive signals as MACD is still above the signal line along with the RSI moving up, meaning that the bullish inertia is consolidated. The immediate resistance for the trend is at 1,100 points while the raised support is at 1,060 points.


  • Domestic and international news
  • Domestic stocks rise, surpassing important resistance level
  • Technical view and recommendation update #HHV, #VGC, #NLG, #GVR, #TCB, #HPG



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