US stocks recover

US stocks recover in first session of the week

After plunging sharply last weekend due to concerns about US-China trade tensions, US stocks gradually recovered in the trading session last night Vietnam time. Reassuring statements from President Donald Trump and US officials helped ease investors' concerns and stabilize the market.

At the close, the Nasdaq technology index jumped 2.21% - the strongest increase since May 27, while the Dow Jones and S&P 500 also recorded positive results. Market sentiment improved after President Trump said that the US did not want to hurt China, and Beijing did not offer additional countermeasures. 10 of the 11 major stock groups of the S&P 500 all increased, led by technology.

Tech stocks related to artificial intelligence (AI) were the biggest gainers of the session. Broadcom shares jumped nearly 10% after the startup announced a partnership with OpenAI to produce its first in-house AI processor. Other AI chipmakers also saw their shares rise, with Nvidia rising 2.8% and Micron Technology rising more than 6%.

The latest trade tensions between the US and China follow China’s announcement on October 9 of a significant expansion of its rare earth export controls. A day later, Mr. Trump announced that he would impose an additional 100% tariff on imports from China and impose export controls on all critical US-made software starting November 1. However, Mr. Trump said over the weekend that the US did not want to “hurt” China.

Sam Stovall, head of investment strategy at financial research firm CFRA Research, said AI continues to be a driving force and it is not surprising that investors are buying on dips, while recommending investors to be cautious as US-China trade tensions remain unresolved.

JPMorgan Chase, Goldman Sachs, Citigroup and Wells Fargo will report quarterly results on October 14, kicking off an earnings season that investors will be watching closely for signs of how tariffs are impacting Wall Street’s biggest companies.

Earnings reports will provide a window into the economy as key official data remain delayed due to the ongoing government shutdown.

Source: https://vtv.vn/chung-khoan-my-phuc-hoi-100251014075758341.htm