Market Pulse – Live UpdatesMajor Indexes Surge as Economy Shows Resilience
The U.S. stock market rallied strongly on Friday, June 6, 2025, with the S&P 500 breaking above the 6,000 level for the first time since February. As of midday trading, the Dow Jones Industrial Average jumped 386 points (0.91%) to 42,706, the S&P 500 gained 58.83 points (0.99%) to 5,998, and the tech-heavy Nasdaq Composite climbed 235.77 points (1.22%) to 19,534.
Today’s rally marks a significant recovery from Thursday’s selloff, which was largely triggered by a public feud between President Donald Trump and Tesla CEO Elon Musk. The market’s positive momentum was fueled by a stronger-than-expected May jobs report, which showed the U.S. economy added 139,000 jobs, surpassing economists’ expectations of 126,000. The unemployment rate remained steady at 4.2%.
Tesla Rebounds as Trump-Musk Tensions Show Signs of Easing
Tesla (TSLA) shares rebounded sharply today, climbing over 5% to around $300 after suffering a devastating 14% drop on Thursday that wiped out approximately $152 billion in market value.
The public spat began when Musk criticized Trump’s signature tax and spending bill, calling it a “disgusting abomination.” The situation escalated dramatically on Thursday when Musk publicly supported calls for Trump’s impeachment and made unsubstantiated claims about the president. Trump retaliated by threatening to terminate government contracts with Musk’s companies.
Wedbush analyst Dan Ives noted, “Musk needs Trump and Trump needs Musk for many reasons, and these two becoming friends again will be a huge relief for Tesla shares.”
Other Market Movers
Beyond the Tesla drama, several other stocks made significant moves today:
– Lululemon (LULU) plunged over 20% following disappointing earnings results
– DocuSign (DOCU) dropped more than 18% after its quarterly report
– FuelCell Energy (FCEL) surged nearly 40% on positive industry news
– Recursion Pharmaceuticals (RXRX) jumped 17.61% on promising research developments
– Applied Digital (APLD) gained nearly 15% amid growing interest in AI infrastructure
Economic Data and Upcoming Events
Today’s jobs report has diminished hopes for a Federal Reserve interest rate cut in June, despite President Trump’s continued calls for the Fed to lower rates. The solid employment figures, combined with the steady unemployment rate, suggest the economy remains resilient despite recent concerns about stagnation.
Investors should keep an eye on several key economic events next week:
– Consumer Price Index (CPI) data on Wednesday, June 11
– Producer Price Index (PPI) on Thursday, June 12
– Preliminary Consumer Sentiment report on Friday, June 13
Additionally, several Fed officials are scheduled to speak next week, which could provide further insights into the central bank’s thinking on monetary policy.
Market Sentiment and Outlook
The market’s recovery today reflects renewed optimism about the U.S. economy and improved relations between key business and political figures. However, caution remains as investors continue to monitor global trade tensions, particularly regarding President Trump’s recent tariff policies.
U.S. money market funds saw a sharp rise in inflows for the week ending June 4, with investors pouring a net $66.24 billion into these safer assets—the largest weekly inflow since December 2024. This suggests some investors are still positioning defensively amid ongoing uncertainties.
As we head into next week, market participants will be closely watching inflation data and Fed commentary for clues about the future direction of interest rates, while also keeping an eye on any further developments in the Trump-Musk relationship that could impact Tesla and the broader market.