US stocks rise after Trump announces trade deal with Vietnam

At around 11pm on July 2 (Vietnam time), CNBC channel updated: The S&P 500 index on the US stock market increased after President Trump announced that the US had reached a trade agreement with Vietnam.

Employees work on the floor of the New York Stock Exchange (NYSE) at the opening in New York City, USA on June 23. Next to them is a hat with the words "Make America Great Again" - Photo: AFP

The S&P 500 rose 0.3%, while the Nasdaq Composite rose 0.7%. The Dow Jones Industrial Average rose 48 points, or 0.1%.

"The S&P 500 rose after President Trump posted information about the agreement between the US and Vietnam on the social network Truth Social, although he did not provide further information about the agreement. Shares of Nike, which produces about half of its footwear in Vietnam and China, rose 3% after the announcement" - CNBC wrote.

Earlier in the day, the US stock market was under pressure after the latest report from payroll processor ADP showed that the country's private sector lost 33,000 jobs last month.

This is the first monthly decline in the ADP jobs report since March 2023. Some economists had predicted a gain of 100,000 jobs.

According to information from the Vietnamese Ministry of Foreign Affairs , at around 8:00 p.m. on July 2, General Secretary To Lam had a phone call with US President Donald Trump about Vietnam-US relations and negotiations on reciprocal taxes between the two countries.

General Secretary To Lam and President Donald Trump welcomed the two countries' negotiating delegations' agreement on the Vietnam-US Joint Statement on the framework of a reciprocal, fair and balanced trade agreement.

President Trump affirmed that the US will significantly cut reciprocal taxes on many Vietnamese export goods.

On the social network Truth Social the same day, Mr. Trump also posted: "I just reached a trade agreement with Vietnam. Details will be announced later!".

Last April, President Trump announced a series of new tariffs applicable to many trading partners (of which Vietnam is subject to a rate of 46%), but postponed implementation for many countries for 90 days to facilitate negotiations with partners.

Tuoitre.vn

Source: https://tuoitre.vn/chung-khoan-my-tang-diem-sau-khi-ong-trump-thong-bao-dat-thoa-thuan-thuong-mai-voi-viet-nam-20250702230418267.htm