According to CNBC (USA), the S&P 500 increased 0.3% and reached a new intraday record high of 6,215.80 points at noon, surpassing the previous record of 6,215.08 on June 30.
Meanwhile, the Nasdaq Composite also rose 0.8%, but the Dow Jones fell 32 points, or 0.1%.
The S&P 500 index rose sharply after President Trump posted on the social network Truth Social about the trade agreement between the US and Vietnam. At 10:25 a.m. on July 2 (local time), US President Donald Trump posted on the social network Truth Social that he had just reached a trade agreement with Vietnam. President Trump wrote: "I have just reached a Trade Agreement with Vietnam. More details, please wait for further information."
In a follow-up post shortly after, the US leader emphasized: “I am deeply honored to announce that I have just reached a Trade Agreement with the Socialist Republic of Vietnam, after speaking with the Honorable General Secretary of the Communist Party of Vietnam , To Lam. This will be a great partnership between our two countries. Under the terms of the agreement, Vietnam will impose a 20% tariff on all goods entering the United States and a 40% tariff on goods in transit. In return, Vietnam will do something it has never done before: Give the United States full access to its market for trade. In other words, it will ‘open its market to the United States,’ meaning we will be able to export our products to Vietnam with ZERO tariffs. In my view, the SUVs – also known as big cars – that are very successful in the United States will be a great addition to the diverse product lineup in Vietnam. Working directly with General Secretary To Lam was an extremely pleasant experience. Thank you for your attention to this issue!".
According to CNN (USA), it is still unclear whether Vietnam agrees with what President Trump declared on social media or not.
Arlan Suderman, of financial services network StoneX, said the trade deal with Vietnam would open up many opportunities for the US to export pork, wheat and corn, among other potential products to the Southeast Asian country. “Therefore, the market is reacting positively to that with the mentality that other agreements can still be reached, which may or may not be positive,” he said.
According to HA LINH/News and People Newspaper
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