Wall Street stock markets recorded an impressive performance at the close of trading on July 9, where the Nasdaq Composite index led the gain by 1.3% to the level of 26,206.89 points. The S&P 500 index followed suit with a 0.8% increase to 7,543.64 points, while the Dow Jones Industrial Average rose slightly by 0.27% to 52,487.41 points.
This surge was heavily driven by optimism in the semiconductor sector. Micron Technology shares jumped 4.5% following the announcement of a massive investment worth over $250 billion through 2035 to expand artificial intelligence (AI)-based memory chip production capacity. In addition, Meta Platforms' plan to produce its own AI chips starting this September also provided positive sentiment for the tech market.
Although the upward trend looks solid, market analysts warn of looming risks, particularly related to geopolitical tensions in the Middle East due to the escalation of conflict between Iran and the United States. In addition to these external factors, oil price stability and the direction of the Federal Reserve's monetary policy remain crucial variables monitored by market participants.
On the other hand, investors are beginning to shift their focus to the upcoming second-quarter earnings season. LSEG data projects an average earnings growth of 24% year-on-year for companies in the S&P 500 index, with the largest contribution coming from the tech sector. Meanwhile, the stable US labor market data provides room for the Fed to continue evaluating future interest rate adjustments.
In contrast to the dynamics in the US, the Vietnamese capital market recorded mixed results at the close of trading on July 9. The VN-Index experienced a correction of 0.7% to the level of 1,840.7 points, while the HNX-Index showed a positive trend with a 2.09% increase to the position of 306.67 points. At the diplomatic level, the Vietnamese Government reaffirmed its commitment to enhancing its strategic partnership with the US across various sectors, including innovation and digital transformation.
