US stocks rebounded at the start of the week.
After a sharp decline last weekend due to concerns about US-China trade tensions, US stocks gradually recovered in overnight trading (Vietnam time). Reassuring statements from President Donald Trump and US officials helped to ease investor anxieties and stabilize the market.
At the close of trading, the Nasdaq technology index surged 2.21% – its strongest gain since May 27th – while the Dow Jones and S&P 500 also recorded positive results. Market sentiment improved after President Trump stated that the U.S. does not want to harm China, and Beijing has not yet taken further retaliatory measures. Ten out of the eleven major stock groups in the S&P 500 rose, led by technology.
Artificial intelligence (AI) technology stocks saw the biggest gains in this session. Broadcom shares rose nearly 10% after the startup announced a partnership with OpenAI to produce its first in-house AI processor. Other AI-related chip manufacturers also saw their shares rise, with Nvidia gaining 2.8% and Micron Technology rising more than 6%.
The latest trade tensions between the US and China followed China's announcement on October 9th of a significant expansion of its rare earth export controls. The following day, President Trump announced he would impose a 100% additional tariff on Chinese imports and impose export controls on all critical US-made software starting November 1st. However, over the weekend, Trump stated that the US did not want to "harm" China.
Sam Stovall, head of investment strategy at financial research firm CFRA Research, believes AI continues to be a driving force and it's no surprise that investors are buying on dips, while also advising caution as US-China trade tensions remain unresolved.
JPMorgan Chase, Goldman Sachs, Citigroup, and Wells Fargo will release their quarterly results on October 14th, kicking off the earnings reporting season that investors will closely watch for signs of how tariffs are impacting Wall Street's biggest firms.
Earnings reports will provide a basis for assessing the economy, especially given the delay in crucial official data due to the ongoing government shutdown.
Source: https://vtv.vn/chung-khoan-my-phuc-hoi-100251014075758341.htm
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