Live: Stock Market Climbs on Jobs Report, Tesla Recovers as Musk-Trump Feud Calms
Live updates: Markets rally after strong jobs data. Tesla rebounds as Musk and Trump ease tensions. Follow real-time stock and news coverage.
U.S. markets kicked off Friday with strong gains, driven by upbeat job numbers and a temporary pause in the escalating feud between Tesla CEO Elon Musk and former President Donald Trump.
The S&P 500 rose 1%, surpassing the 6,000 level for the first time in months. The Dow Jones Industrial Average jumped nearly 400 points, while the Nasdaq climbed 1.1%, supported by a rebound in major tech stocks.
Tesla shares staged a sharp recovery after a dramatic 14% drop on Thursday. The turnaround came after Musk backed off from a threat to suspend NASA’s Dragon spacecraft program—used for vital missions—following Trump’s warning about reviewing Tesla’s government contracts. While some reports suggested the two may speak to settle differences, the White House later denied any scheduled communication.
Also Read: Elon Musk Loses $34 Billion After Fight with Trump Hurts Tesla Stock
Their recent clash had shaken investor confidence, introducing fresh volatility into a market already dealing with economic uncertainties and ongoing tariff impacts. The standoff also raised concerns about the future of federal partnerships crucial to Musk’s business operations.
In economic news, the May jobs report helped lift market sentiment. Employers added 139,000 jobs last month, beating forecasts of 126,000. The unemployment rate held steady at 4.2%, reinforcing the view that the U.S. labor market remains resilient even as trade pressures linger.
Reacting to the report, Trump renewed his criticism of the Federal Reserve, urging it to cut interest rates by a full percentage point. “Go for a full point, Rocket Fuel!” he posted on social media, pressing for a faster response to support economic momentum.
Stay with us for live updates throughout the day as more headlines develop.
Key Moments
- S&P 500 crosses 6,000 after stronger-than-expected May jobs report.
- Tesla shares rebound following signs of de-escalation between Musk and Trump.
- Musk drops NASA threat after Trump warns of government contract consequences.
- Trump slams Fed again, urging a full-point rate cut in response to job numbers.
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06 Jun 2025 12:47 PM
Job Growth Tops Forecasts in May, Unemployment Unchanged at 4.2%The latest U.S. jobs report for May indicates steady labor market performance, even as new tariffs from President Trump continue to take effect.
Employers added 139,000 nonfarm jobs during the month, surpassing economists’ expectations of 126,000. The unemployment rate remained unchanged at 4.2%, signaling continued workforce stability.
April’s job gains, initially reported at 177,000, were revised down to 147,000. Combined revisions for March and April show 95,000 fewer jobs were created than earlier reported.
Despite the downward revisions, the May numbers suggest that hiring remains solid across many sectors, helping ease market concerns over economic slowdown.
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06 Jun 2025 12:49 PM
S&P 500 briefly tops 6,000 as trade talks boost market
The S&P 500 crossed the 6,000 mark early Friday, reaching its highest level since February.
The index has bounced back about 20% from April lows after President Trump softened his tough tariff stance. He put a 90-day pause on many tariffs, reached a trade deal framework with the UK, and agreed to a temporary truce with China.
The S&P nearly hit 6,000 on Thursday following news of a positive call between Trump and Chinese President Xi Jinping. But gains slipped later that day after a public spat between Trump and Tesla CEO Elon Musk.
By Friday morning, the tension between the two appeared to ease a bit, although a White House official told Reuters there’s no scheduled call planned between them.
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06 Jun 2025 12:51 PM
Trump urges Federal Reserve to cut rates by a full point
President Trump once again called on the Federal Reserve to lower interest rates on Friday morning.
In a social media post, he criticized the Fed for acting “too late” compared to other regions, pointing out that Europe has already cut rates 10 times while the U.S. has yet to make a move.
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 frequently voiced frustration with Fed Chair Jerome Powell and the central bank’s cautious approach to rate cuts this year.
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06 Jun 2025 12:53 PM
Tesla shares rebound after Trump-Musk feud causes $150 billion market loss
Tesla stock surged up to 4.5% early Friday, recovering some of the massive $150 billion wiped off its value following a public clash between CEO Elon Musk and President Trump.
Sources at Ishook Finance initially reported that a phone call between Trump and Musk was planned for Friday, raising hopes for a potential easing of tensions. However, those reports were later refuted.
Investors are closely monitoring the situation, as the dispute had created uncertainty and volatility around Tesla’s stock.
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06 Jun 2025 12:54 PM
Circle stock climbs further after explosive IPO debut, surpasses $100 per share
Shares of Circle (CRCL), the stablecoin issuer, continued their strong momentum on Friday, rising 22% in early trading.
This builds on the dramatic 168% surge on its first day as a public company, a performance so volatile it triggered multiple trading halts.
Circle’s IPO comes amid a growing wave of support for cryptocurrency from the Trump administration and major corporations.
Currently, Circle shares are trading above $100, a sharp increase from the $31 IPO price.
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06 Jun 2025 12:55 PM
Microsoft hits new record, overtakes Nvidia as world’s largest company
Microsoft (MSFT) reached a fresh all-time high on Friday, surpassing AI chip maker Nvidia (NVDA) to become the largest company by market value.
Shares rose nearly 1% in early trading, pushing Microsoft’s stock above $470 and giving it a market cap of over $3.5 trillion—slightly ahead of Nvidia’s $3.46 trillion valuation.
Year to date, Microsoft has gained 12%, outperforming Nvidia’s roughly 6% increase over the same period.
The tech giant has fully bounced back from the dip earlier this year tied to President Trump’s initial tariff policy and its later easing.
