Stock market today: Dow, S&P 500, Nasdaq rise after jobs report as Tesla jumps on Musk-Trump detente

Updated Fri, Jun 6, 2025, 11:16 AM 2 min read

Tesla shares suffered a wipeout and were down more than 14% in a broader stock slide on Thursday as mounting differences between the two powerful men erupted into the open. Musk called for the president’s impeachment, while Trump threatened the contracts and breaks critical to Musk’s business empire.

The feud injected more unpredictability into an already uncertain market, just as weary investors had become cautiously optimistic that Trump tariffs could be reined in and the US economy might prove resilient.

Meanwhile on Friday, the labor market showed more signs of resilience as Trump’s tariffs continued to seep in to the economy. The US added 139,000 jobs in May, more than the 126,000 expected by economists as the hiring rate slowed and unemployment held flat at 4.2%.

Following the May jobs beat, President Trump again criticized the Federal Reserve for being ‘too late’ in the central bank’s hesitancy to cut rates. Trump urged policy makers to ease borrowing costs by reducing rates, writing in a social media post: “Go for a full point, Rocket Fuel!”

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Microsoft touches fresh record, eclipses Nvidia as largest company in the world

Microsoft (MSFT) opened at a fresh record on Friday, surpassing AI chip giant Nvidia (NVDA) as the largest company in the world.

The software giant gained nearly 1% in morning trading, hitting a new all-time high above $470. Its market cap stood at more than $3.5 trillion, more than Nvidia’s $3.46 trillion valuation.

Microsoft is up 12% year to date versus Nvidia’s roughly 6% gain during the same period.

The company has fully recovered from its early April lows following President Trump’s unveiling of a reciprocal tariff policy and its subsequent rollback.
Circle stock continues to surge after IPO, with shares topping $100 each

Circle (CRCL) stock continues to climb.

Shares of the stablecoin issuer rose 22% in early trade Friday, building on the meteoric 168% gains in its first day of trading that saw the stock halted multiple times for volatility. Its market debut comes as crypto has received favorable treatment by the Trump administration and corporations.

Circle is currently trading at over $100 per share. It was priced at $31 ahead of its IPO.
Tesla stock rebounds after Trump-Musk blowup leads to $150 billion wipeout

Yahoo Finance’s Laura Bratton reports:

Read more here.
Trump to Fed: ‘Go for a full point’ rate cut

President Trump again urged the Federal Reserve to cut rates on Friday morning.

In a social media post, the president criticized the central bank for being “too late,” saying policymakers should go for a full point cut.

Trump wrote: “‘Too late’ at the Fed is a disaster! Europe has had 10 rate cuts, we have had none. Despite him, our Country is doing great. Go for a full point, Rocket Fuel!”

The president has repeatedly criticized the Federal Reserve and its chairman, Jerome Powell, for not cutting rates this year the way European policymakers have.
S&P 500 touches 6,000 for the first time since February

The S&P 500 (^GSPC) briefly touched the 6,000 mark on Friday shortly after the market open, its highest level since February.

Stocks have roared back roughly 20%, or more than 1,000 points, from their April lows after President Trump’s “Liberation Day” tariff policy reveal.

The president has since rolled back the broad-based reciprocal tariff plan he unveiled on April 2, announcing a 90-day pause on many countries, a framework deal with the UK, and a temporary trade truce with China.

The broad-based index came close to touching the 6,000 level on Thursday after President Trump said he had a “very good phone call” with his Chinese counterpart, Xi Jinping, about trade.

However, the S&P 500 retreated by the afternoon following a very public feud between Trump and Tesla (TSLA) CEO Elon Musk.

By Friday morning, the war of words showed signs of cooling. However, a White House official told Reuters there was no planned phone call between Trump and Musk.
Stocks open higher after jobs report, signs of cooldown in Trump-Musk feud

US stocks opened higher with the S&P 500 eyeing the 6,000 level after the release of a moderate beat on the monthly jobs report and signs of a potential cooldown between President Trump and Elon Musk.

The Dow Jones Industrial Average (^DJI) rallied more than 300 points, or 0.9%, while the S&P 500 (^GSPC) added about 1%. The tech-heavy Nasdaq Composite (^IXIC) also gained 1%.

Tesla (TSLA) shares rose 6% amid signs of a cooldown between CEO Musk and President Trump after a very public clash on social media.

The May jobs report came in better than expected, with unemployment holding steady at 4.2%.
US labor market adds 139,000 jobs in May, unemployment holds steady at 4.2%

Yahoo Finance’s Josh Schafer reports:

Read more here.
Circle stock extends run after massive IPO

Circle (CRCL) stock continued to gain in premarket trading Friday after an explosive debut on the public markets Thursday.

Shares of the stablecoin issuer rose 14% to trade around $94 as of 8:00 a.m. ET Friday. On Thursday, the stock soared 168% from its IPO price of $31, closing the session with a market capitalization north of $16 billion.

Circle is the second-largest stablecoin issuer in the market and issues the stablecoin USDC (USDC-USD), which is backed by the dollar. There is $60 billion worth of USDC in circulation, while the largest stablecoin issuer, Tether (USDT-USD), has closer to $150 billion in circulation.

Its market debut comes as multiple tailwinds have boosted the crypto market in recent months. Bitcoin (BTC-USD) breached the $100,000 level in early May and is currently trading around $103,800 per token.

Read more about Circle’s IPO here.
Good morning. Here’s what’s happening today.
Lululemon shares tumble after tariff-fueled cut to outlook

Lululemon said its profits will take a hit as uncertainty around tariffs deters shoppers, prompting the yogawear retailer to lower its 2025 forecast.

Shares sank over 20% in pre-market trading in the wake of Lululemon’s earnings report late Thursday.

Yahoo Finance’s Brooke DiPalma reports:

Read more here.
Trending tickers: Broadcom, Tesla, lululemon and DocuSign

Here are some top stocks trending on Yahoo Finance in premarket trading:

Broadcom (AVGO) stock fell 3% in premarket trading on Friday, after the tech company, which makes semiconductors, failed to impress Wall Street with it’s third-quarter revenue forecast. Despite investors being bullish on chip stocks amid the artificial intelligence boom, the results failed to excite.

“High expectations drove a bit of downside,” Bernstein analyst Stacy Rasgon said in a note.

Tesla (TSLA) stock rebounded on Friday and rose 4% in premarket trading after closing 14% down the day before. The war of words between CEO Elon Musk and President Trump cooled amid a report that White House officials were organising a call between the two leaders.

lululemon athletica inc. (LULU) shares plunged 20% on Friday before the bell after the sports company warned profits would be hit amid what it called a “dynamic macro-environment.”

DocuSign (DOCU) stock fell 18% in premarket trading on Friday after reporting a rise in its profit and revenue, however, the company now expects to bring in less money from company contracts.
Tesla stock gains amid growing hopes for Musk-Trump truce

Tesla (TSLA) shares rose before the bell, setting up for a comeback from tanking 14% on Thursday as the public spat between its CEO Elon Musk and President Trump became increasingly heated.

Investors are taking some comfort from White House aides scheduling a call between Musk and Trump to broker peace, as the Tesla boss signals he’s open to moves to cool the situation.

Reuters reports:

Read more here.
Elon Musk pulls out of Dragon decommission threat in public spat with Donald Trump

Elon Musk has taken back his threat to decommission the Dragon spacecraft, currently produced by SpaceX and used for ferrying people and essential items to the International Space Station.

Bloomberg reports:

Read more here.
Trending tickers in after-hours trading

Lululemon (LULU)

Shares in the apparel company plunged 21.7% after the company issued weaker-than-expected guidance for the second quarter and claimed profits are at risk in a “dynamic macro-environment”. The brand expects Q2 earnings per share in the range of $2.85 to $2.90, significantly below Wall Street’s consensus estimate of $3.29.

DocuSign (DOCU)

DocuSign stock dropped 16.9% in after-hours trading following a miss on billings growth. The digital agreements company reported Q1 billings of $739.6 million, falling short of the $746.2 million consensus from analysts.

Samsara (IOT)

Shares in the software company plunged 12.5% despite beating earnings expectations after Samsara issued guidance that pointed to slowing revenue growth. For the fiscal second quarter, the company expects revenue between $371 million and $373 million, up from $367 million in the previous quarter.