Morning call - Markets bounce in doubt, world markets drop ahead of US report
All three major US stock indexes pared earlier gains to finish in the red on Friday as investors digested the latest labor reports. The Dow lost 187 points, while the S&P 500 and the Nasdaq fell by 0.3% and 0.1%, respectively. The US economy added 209K jobs last month, missing forecasts of 225K while the unemployment rate fell back to 3.6% and wage growth was steady, following an upwardly revised figure for May. Still, traders see a nearly 95% chance of a 25bps hike in the fed funds rate this month.
The market gained 11.85 points (+1.05%) to close at 1,138 points. The market bounced back after the VNINDEX touched the MA20 support. Market liquidity is still below the 20-day average, signaling uncertainty in the short-term uptrend.
World market: US stocks fall as investors review latest labor reports
Vietnam market: The domestic market rebounded after touching the MA20, but the liquidity was still low