MORNING BULLETIN JUNE 9: U.S. May 2026 NFP Report Exceeds Expectations

Detailed Report

Macroeconomic News

• Iran: The Foreign Ministry stated that Tehran has ceased military operations targeting Israel, while warning it will resume attacks if Israel continues military operations in Lebanon.
• United States: The May 2026 Nonfarm Payrolls (NFP) report showed the economy added 172K jobs in May (forecast: 85K). April’s NFP figure was revised upward from 115K to 179K.
• United States: The CEO of the American Petroleum Institute (API) has warned that the U.S. Strategic Petroleum Reserve (SPR) is nearing a dangerous level, currently standing at approximately 350 million barrels. According to him, the system needs to maintain about 20% of its capacity to operate, equivalent to a floor of about 70 million barrels — a margin that is no longer safe as the rate of drawdowns accelerates.
• U.S.: Goldman Sachs has abandoned its forecast for the Fed to cut interest rates in December. The firm now expects the Fed to keep rates unchanged until cuts in June 2027 and December 2027.
• Eurozone: The Eurozone economy unexpectedly contracted in Q1 as final GDP was revised down to -0.2% q/q (forecast: +0.1% q/q; previously +0.2% q/q).
• Japan: The Minister of Economy offered a cautious assessment of the monetary policy outlook, leaving open the possibility of a BOJ rate hike while signaling that the government is closely monitoring the potential economic impacts of tightening.
• Vietnam: General Secretary and President To Lam called for the drafting of a new resolution on the blue economy with a long-term vision, innovative thinking, and modern governance, to make the sea a driver of rapid and sustainable growth.

Market News

• The VN-Index has fallen below the 50-day SMA. In the coming sessions, investors should trade cautiously, waiting for the market’s volatility to narrow and stabilize.
• HTG: has announced a Board of Directors resolution regarding the issuance of shares to pay dividends. Accordingly, HTG plans to issue 7.2 million shares to pay dividends for 2025, corresponding to an issuance ratio of 20% of the total 36 million shares currently in circulation.
• SBS: Held its 3rd Annual General Meeting of Shareholders for 2026. The company has set a target of net revenue of approximately 120–140 billion VND, operating and management expenses of approximately 112–130 billion VND, and operating profit of approximately 3–5 billion VND; and simultaneously changed the company’s name to Saigon Thuong Tin Securities Joint Stock Company.
• Green Electronics Investment JSC: As of Q2 2026, cumulative revenue exceeded VND 54.6 trillion, up 33% year-on-year, achieving 45% of the full-year plan.
• NKG: Will issue nearly 44.8 million shares to pay dividends for 2025, corresponding to a 10% ratio. The ex-dividend date is June 17. Following the issuance, NKG’s authorized capital is expected to increase from nearly VND 4,476 billion to over VND 4,923 billion.
• VJC: Will issue over 177.48 million shares to pay dividends to existing shareholders at a ratio of 100:30; shareholders holding 100 shares will receive an additional 30 new shares. Following the issuance, Vietjet’s charter capital is expected to increase from VND 5.916 trillion to nearly VND 7.691 trillion.
• MSN: Announced the successful implementation of a 750 million USD unsecured syndicated loan arranged under a guarantee.

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Source: BIDV Securities (BSC)