Track Markets Live NowMarket Indexes Poised for Recovery After Thursday’s Decline
U.S. stock futures are pointing higher early Friday, June 6, 2025, as investors await the crucial May jobs report while digesting signs of easing tensions between Tesla CEO Elon Musk and President Donald Trump. The market is looking to recover after all three major indexes closed in negative territory on Thursday.
As of early morning trading, S&P 500 futures are up 0.44%, Dow futures have gained 0.35%, and Nasdaq futures have advanced 0.46%.
Tesla Stock Rebounds as Trump-Musk Feud Shows Signs of Cooling
Tesla (TSLA) shares have rebounded 5.4% in premarket trading after plummeting approximately 15% on Thursday, when the electric vehicle maker lost about $150 billion in market value.
The conflict erupted when Musk criticized Trump’s signature tax bill, prompting the president to threaten cutting off government contracts with Musk’s companies. However, recent signals suggest both sides are working to dial down the hostility.
All Eyes on May Jobs Report
Today’s most anticipated economic event is the release of the May nonfarm payrolls report at 8:30 a.m. ET. Economists expect employers added approximately 125,000 jobs last month, a figure that would indicate healthy but moderating growth in the labor market.
The jobs data comes at a critical time as investors assess the Federal Reserve’s interest rate trajectory amid concerns about economic slowdown. Recent economic indicators, including ISM surveys, ADP figures, and jobless claims, have pointed to weakening economic momentum.
Traders currently anticipate two interest rate cuts by year-end, with the first 25-basis-point reduction expected in September. The Federal Reserve is scheduled to hold its next policy meeting later this month, where rates are expected to remain unchanged.
Circle’s NYSE Debut Makes Waves in Crypto Space
Circle (CRCL), the issuer of the USDC stablecoin, made a strong debut on the New York Stock Exchange, with shares surging 16.88% in pre-market trading. The company’s stock opened at $69.50, significantly higher than its IPO price of $31.
The successful IPO comes as the Trump administration and crypto industry push for legislation to regulate stablecoin issuers. Circle and existing investors raised $1.05 billion by selling 34 million shares at $31 each, exceeding the marketed range of $27 to $28.
Other Notable Market Movers
Broadcom (AVGO) shares have fallen 3.5% after the networking and custom AI chipmaker’s quarterly revenue forecast failed to meet investor expectations.
Lululemon (LULU) stock has plunged 21% as the sportswear maker cut its annual profit target, citing higher costs from Trump’s tariffs.
Amazon (AMZN) shares have gained nearly 1% in early trading, contributing to the positive momentum in the tech sector.
Earnings on Deck
Several companies are scheduled to report earnings before the market opens today, including ABM Industries (ABM), G-III Apparel Group (GIII), Manchester United (MANU), and QuantaSing Group (QSG).
International Developments
Investors are also monitoring international developments, particularly following Thursday’s leader-to-leader call between President Trump and Chinese President Xi Jinping. While the call represented an effort to address brewing trade tensions, key issues remain unresolved and are expected to be addressed in future talks.
Market Outlook
Despite recent volatility, U.S. equities posted strong gains in May, with the S&P 500 and Nasdaq recording their largest monthly percentage increases since November 2023. This performance was driven by a softening of Trump’s trade stance and positive earnings reports. However, the S&P 500 still remains approximately 3.3% below the record highs reached in February 2025.
As trading begins on this first Friday of June, market participants will be closely watching how the jobs report impacts expectations for economic growth and monetary policy in the coming months.