Wall Street records sixth gain in seven sessions

Despite a quiet trading session on December 2, US stocks still ended with gains, marking the sixth increase in the last seven sessions, thanks to the technology group's rise as expectations that the US Federal Reserve (Fed) will lower interest rates at its meeting next week remain high.

Activities at the New York Stock Exchange, USA. Photo: THX/TTXVN

US stocks fell early this week after disappointing US manufacturing data, US government bond yields rose sharply due to rising Japanese bond yields, and bitcoin and cryptocurrency-related stocks fell. However, with little new economic data, the pressure from bond yields eased and bitcoin recovered, helping Wall Street regain some of its momentum as investors turned their attention to the Fed meeting.

Meanwhile, sales figures from two important shopping days during the year-end holidays, Black Friday and Cyber ​​Monday, showed positive consumer purchasing power, contributing to supporting the market.

At the end of the session, the Dow Jones industrial average rose 185.13 points, or 0.39%, to 47,474.46 points. The S&P 500 index rose 0.25% to 6,829.37 points, while the Nasdaq Composite technology index rose 0.59% to 23,413.67 points.

Notably, in this session, the stock price of aircraft manufacturer Boeing rose 10.1%, becoming the biggest drag on the Dow Jones with a contribution of about 117 points, after the company forecasted the number of 737 and 787 aircraft delivered next year will increase. Technology stocks also rose 0.8%, thanks to large-cap stocks such as Apple, Nvidia and Microsoft, which all rose about 1%.

Recent data has shown that the US economy is gradually cooling down, while Fed officials still call for caution in cutting interest rates because of concerns that inflationary pressures may return. However, recent statements by some Fed officials have strongly increased market expectations that the Fed will cut interest rates at its December 2025 meeting.

The probability of a 25 basis point rate cut at the Fed's next meeting is now 89.2%, up from 63% a month ago, according to the CME FedWatch tool. The Personal Consumption Expenditures Price Index (PCE) report, the Fed's preferred inflation measure, due on December 5 could further reinforce those expectations.

Markets are also watching the story of who will succeed Fed Chairman Jerome Powell when his term ends next year, amid reports that White House economic adviser Kevin Hassett is the leading candidate. President Trump has said he will announce his decision early next year.

In Vietnam, at the end of the session on December 2, the VN-Index increased by 15.39 points, or 0.9%, to 1,717.06 points, while the HNX-Index increased by 0.96 points, or 0.37%, to 258.87 points.

Source: https://baotintuc.vn/thi-truong-tien-te/pho-wall-ghi-nhan-phien-tang-thu-sau-trong-bay-phien-20251203065315372.htm