Stock Market Today: S&P 500 Breaches 6,000 as Markets Rally Following Jobs Report and Musk-Trump Tensions Ease

Major Indexes Surge as Employment Data Boosts Investor Confidence

U.S. stock markets rallied strongly on Friday, June 6, 2025, with all major indexes posting significant gains after a positive jobs report and signs of cooling tensions between Tesla CEO Elon Musk and President Donald Trump. The S&P 500 (^GSPC) briefly touched the psychologically important 6,000 level for the first time since February, gaining 65.62 points or 1.10% to close at 6,004.92.

The Dow Jones Industrial Average (^DJI) climbed 459.23 points or 1.09% to finish at 42,778.97, while the tech-heavy Nasdaq Composite (^IXIC) advanced 256.00 points or 1.33% to end at 19,554.45. This marked a significant recovery from Thursday’s session, when all three major indexes closed in negative territory amid the public spat between Musk and Trump.

Jobs Report Calms Recession Fears

Friday’s market rally was fueled in part by the May jobs report, which came in better than expected with unemployment holding steady at 4.2%. This data helped ease concerns about a potential economic slowdown that had been weighing on investor sentiment in recent weeks.

“Today’s employment figures suggest the economy remains resilient despite recent headwinds,” said market strategist Emma Chen at Capital Insights. “The steady unemployment rate provides the Federal Reserve with flexibility in their approach to monetary policy.”

Tesla Rebounds as Musk-Trump Tensions Cool

Tesla (TSLA) shares rebounded 6.95% to $304.49 after plunging 14% in the previous session. The recovery came as CEO Elon Musk backed off his threat to decommission the Dragon spacecraft used by NASA after President Trump had threatened to cut off the company’s government contracts. The White House, however, tamped down reports of a potential “peace call” between the two.

The public feud, which erupted after Musk criticized Trump’s signature tax bill, had sent shockwaves through markets on Thursday, contributing to the Dow’s 0.3% decline to 42,319.74 points and the S&P 500’s 0.5% drop to 5,939.30 points.

After-Hours Earnings Movers

Several companies reported earnings after Thursday’s close, creating significant after-hours movements that continued into Friday’s session:

Lululemon Athletica (LULU) plummeted 19.89% to $265.00 after its quarterly report, despite posting earnings per share of $2.59, representing a 1.97% increase compared to the same quarter last year.

DocuSign (DOCU) tumbled 18.89% to $75.36 following its quarterly results.

Broadcom (AVGO) slipped 2.90% to $252.41 despite reporting earnings that represented a 55.17% increase compared to the same quarter last year.

On the positive side, Applied Digital Corporation (APLD) surged 17.16% to $14.96, leading the day’s gainers.

Upcoming Market Events

Investors are looking ahead to several key economic reports next week that could significantly impact market direction:

– Monday, June 9: Wholesale inventories data for April
– Tuesday, June 10: NFIB small business optimism index for May
– Wednesday, June 11: Consumer Price Index (CPI) for May, with economists expecting a 0.2% monthly increase and 2.3% year-over-year rise
– Thursday, June 12: Producer Price Index (PPI) and weekly jobless claims
– Friday, June 13: Preliminary consumer sentiment data for June

Market Outlook

The S&P 500’s breach of the 6,000 level represents a remarkable recovery of approximately 20% from its April lows, which occurred after President Trump’s “Liberation Day” tariff policy announcement.

“Markets have demonstrated impressive resilience in the face of policy uncertainty and high-profile corporate conflicts,” noted investment strategist Marcus Wong at Global Advisors. “The focus now shifts to next week’s inflation data, which will be crucial for Federal Reserve policy expectations.”

Traders will be particularly attentive to Wednesday’s CPI report, as inflation trends remain a key determinant of the Fed’s interest rate decisions for the remainder of 2025.

With the VIX fear gauge dropping 7.08% to 17.17 on Friday, market sentiment appears to be improving, though analysts caution that volatility could return quickly if inflation data surprises to the upside or if geopolitical tensions escalate.