Today’s Market ActionMajor Indexes Climb as Investors Digest May Jobs Report
The U.S. stock market opened higher on Friday, June 6, 2025, as investors responded positively to the latest employment data and signs of cooling tensions between Tesla CEO Elon Musk and President Donald Trump.
At the opening bell, all three major indexes showed solid gains. The S&P 500 rose 0.4%, while the tech-heavy Nasdaq Composite added 0.46%. The Dow Jones Industrial Average climbed 0.35%, continuing its recovery from yesterday’s volatility.
The May jobs report released this morning showed the U.S. economy added 125,000 jobs last month, slightly below the expected 177,000 but still indicating steady growth. The unemployment rate remained unchanged at 4.2%, in line with economists’ expectations.
Tesla Rebounds as Trump-Musk Tensions Appear to Ease
Tesla (TSLA) shares rebounded 5.4% in early trading after plunging approximately 15% on Thursday following a public feud between CEO Elon Musk and President Donald Trump. The electric vehicle maker shed about $150 billion in market value during yesterday’s selloff after Trump threatened to cut off government contracts with Musk’s companies.
Reports indicate that White House aides have scheduled a call between Trump and Musk for today, likely to ease tensions after an extraordinary day of hostilities. The apparent cooling of the conflict has provided relief to Tesla investors and contributed to the broader market’s positive sentiment.
Tech Sector Performance and Notable Movers
Microsoft (MSFT) continued its strong performance, trading at $472.09, though down slightly by 0.94% after its impressive 16.5% surge in May. The tech giant remains just a few percentage points below its all-time high as investors continue to show confidence in its diversified business model and growth potential in cloud computing and AI.
Other tech giants showed mixed results at the open. Amazon (AMZN) gained nearly 1% in early trading, while semiconductor manufacturer Broadcom (AVGO) fell 3.5% after its quarterly revenue forecast failed to impress investors despite strong overall performance.
In the retail sector, Lululemon (LULU) shares plummeted 21% after the sportswear maker cut its annual profit target, citing higher costs from Trump’s tariffs as a significant factor affecting its outlook.
Economic Outlook and Upcoming Market Events
Today’s market open comes amid growing concerns about economic momentum, with several recent economic indicators suggesting a potential slowdown. Investors are closely watching how the Federal Reserve might respond to these signals at its upcoming meeting.
The Federal Open Market Committee (FOMC) is scheduled to meet on June 17-18, with market participants expecting the central bank to keep interest rates unchanged. The meeting will be particularly significant as it will include the Fed’s Summary of Economic Projections, providing insights into policymakers’ outlook for growth, inflation, and future rate adjustments.
Traders currently anticipate two 25-basis-point rate cuts by the end of 2025, with the first reduction potentially coming in September, according to data compiled by LSEG.
International Trade Developments
Market sentiment was also influenced by recent developments in U.S.-China trade relations. Investors are still digesting the implications of a leader-to-leader call between President Trump and Chinese President Xi Jinping earlier this week. While the conversation represented an attempt to address brewing trade tensions, key issues remain unresolved and are expected to be addressed in future talks.
Looking Ahead
As trading continues today, investors will be monitoring several key economic indicators scheduled for release next week, including the Consumer Price Index on June 11 and the Producer Price Index on June 12. These inflation readings will be crucial in shaping expectations for the Fed’s monetary policy decisions.
The S&P 500 remains approximately 3.3% below the record highs it reached in February, suggesting potential room for further gains if economic data and corporate earnings continue to support market optimism.