Traders work on the floor at the New York Stock Exchange (NYSE), on the day of Circle Internet Group’s IPO, in New York City, U.S., June 5, 2025.
Brendan McDermid | Reuters
Stocks jumped Friday after the latest nonfarm payrolls data came in better than expected, easing concern the economy faces an imminent slowdown.
The Dow Jones Industrial Average popped 510 points, or 1.2%. The S&P 500 also gained 1.2% — touching the 6,000 level for the first time since late February — and the Nasdaq Composite rallied 1.4%.
The market’s move higher was supported by a more than 3% gain in Tesla. Shares of the electric vehicle maker weighed on the market Thursday, tumbling 14%, as CEO Elon Musk sparred with President Donald Trump on social media. Other major tech-related names such as Nvidia, Meta Platforms and Apple also traded higher on the day.
Those gains came after U.S. payrolls climbed 139,000 in May, the Bureau of Labor Statistics reported Friday, above the Dow Jones forecast of 125,000 for the month but less than the downwardly revised 147,000 in April. The unemployment rate was unchanged at 4.2%.
“Today’s jobs report will not be viewed as a call to action for the Fed to cut rates,” said Eric Merlis, managing director and co-head of global markets at Citizens. “The unemployment rate remained unchanged and, while other measures are pointing to a softer labor picture, the demand for workers remains stable as businesses adjust to policy shifts.”
A series of data released earlier this week signaled a possible economic slowdown, raising questions about the impact of the multi-front tariff negotiations and the next steps for the Federal Reserve, which next meets to set interest rate policy on June 17-18.
On Thursday, unemployment claims for last week’s period came in higher than expected. That came a day after ADP reported that private sector payrolls saw a gain of just 37,000 in May, which substantially missed the Dow Jones estimate for 110,000. Activity in the U.S. services sector also weakened unexpectedly last month.
The major indexes are on pace for meaningful gains for the week. The S&P 500 and Dow are up nearly 2% and 1.5%, respectively, week to date, while the Nasdaq Composite is up more than 2%.
Health care industry powered job gains in May
The better-than-expected May jobs report was fueled largely by the health care industry.
The health care and social assistance category grew by more than 78,000 jobs in May, accounting for more than half of the economy’s net gains. Leisure and hospitality was the next strongest sector, adding 48,000 jobs.
Five categories lost jobs, including manufacturing, which shrank by 8,000.
— Jesse Pound, Gabriel Cortés
Stocks open higher Friday
Stocks jumped on Friday morning.
The Dow Jones Industrial Average jumped 423 points, or 1%, shortly after the opening bell. The S&P 500 also rose about 1%, while the Nasdaq Composite gained 1.2%.
— Sean Conlon
Deepwater’s Gene Munster says Telsa’s dive Thursday was an ‘overreaction’
NEW YORK, NEW YORK – JUNE 05: A Tesla car dealership stands on June 05, 2025 in the Brooklyn borough of New York City. As the relationship between Tesla CEO Elon Musk and U.S. President Donald Trump becomes increasingly strained, shares of Tesla dropped by more than 14% on Thursday. (Photo by Spencer Platt/Getty Images)
Spencer Platt | Getty Images News | Getty Images
As Tesla CEO Elon Musk and President Donald Trump exchanged public jabs, the EV maker’s stock tumbled more than 14%, but Gene Munster, managing partner at Deepwater Asset Management, said the move was an “overreaction.” Tesla stock was bouncing back more than 5% in premarket trading on Friday.
Munster said that Tesla’s lofty valuation is tied to investor bets on the company’s future in self-driving vehicles, and he doesn’t think the spat puts its robotaxi efforts in jeopardy.
“Ultimately, I think that the president wants to do what is right for the country, despite, I think, all the personalities between the two and wanting to get a kind of one-up manship,” he said. Munster argued that it’s more important for the country to support Tesla in the artificial intelligence “arms race” with China.
“I’m fast-forwarding one to five years from now, and in Europe and the rest of the world, it would be a little bit odd, I think, for this personality blow up to really slow down that pace of innovation. And so ultimately, I think that what is best for the country is autonomy to move forward. And I think that means that this is going to continue to move forward.”
Munster said he owns Telsa stock in his personal accounts and would continue to buy its shares.
— Christina Cheddar Berk
U.S. payrolls rose more than expected in May
Nonfarm payrolls gained 139,000 in May, above the 125,000 that economists polled by Dow Jones had estimated but slightly below the downwardly revised 147,000 that the U.S. economy added in April.
The unemployment rate stayed at 4.2%.
— Jeff Cox
Stocks making premarket moves
Here are some of the names making moves before the bell:
Broadcom — The chipmaker slipped nearly 3% on the heels of lackluster free cash flow in the second quarter. Broadcom reported free cash flow of $6.41 billion, versus the $6.98 billion consensus estimate from FactSet.
Circle Internet Group — Shares of the stablecoin company popped nearly 12%, following its 168% rally during its debut on the New York Stock Exchange Thursday.
Lululemon — The stock sank 21% after the athleisure company’s second quarter outlook missed analyst estimates. he firm also slashed its earnings outlook for the full year.
To see more stocks moving during premarket trading, read the full story here.
— Michelle Fox
Tesla shares tick 4.5% higher in premarket after $152 billion wipeout
President Donald Trump holds a news conference with Elon Musk to mark the end of the Tesla CEO’s tenure as a special government employee overseeing the U.S. DOGE Service on Friday May 30, 2025 in the Oval Office of the White House in Washington.
Tom Brenner | The Washington Post | Getty Images
Tesla share price.
— Jenni Reid
Small caps lead for the week entering Friday
With one day left in trading for the week, here’s where the major averages stand:
- The Dow is up 0.12% week to date, on pace for its second positive week in a row
- The S&P is up 0.47% on the week, headed for its second positive week in a row
- The Nasdaq Composite is up 0.97% week to date, on track for its second positive week in a row
- The small cap Russell 2000 is up 1.50% for the week, on pace for its eight positive week in nine.
— Jesse Pound, Christopher Hayes
Nasdaq 100 futures, S&P 500 futures fall at the open
Futures for the Nasdaq 100 and S&P 500 dipped 0.4% and 0.2%, respectively, when trading resumed on Thursday evening. Dow futures were little changed.
— Jesse Pound
Lululemon’s slide highlights after hours movers
A customer shops in a Lululemon store on April 03, 2025 in Miami Beach, Florida.
Joe Raedle | Getty Images
Shares of Lululemon sank 22% in extended trading after the apparel company cut its full-year earnings guidance, citing a “dynamic macroenvironment.”
However, the firm was not the only company whose quarterly report led to a big after hours move:
- Docusign fell 17% after billings growth was slower than expected in the first quarter, according to FactSet.
- Broadcom slipped 3% after reporting only modest beats on the top and bottom lines, according to analysts surveyed by LSEG, and free cash flow that was weaker than expected, according to FactSet.
Check out more movers here.
— Jesse Pound
Traders work on the floor at the New York Stock Exchange (NYSE), on the day of Circle Internet Group’s IPO, in New York City, U.S., June 5, 2025.
Brendan McDermid | Reuters
Stocks jumped Friday after the latest nonfarm payrolls data came in better than expected, easing concern the economy faces an imminent slowdown.
The Dow Jones Industrial Average popped 510 points, or 1.2%. The S&P 500 also gained 1.2% — touching the 6,000 level for the first time since late February — and the Nasdaq Composite rallied 1.4%.
The market’s move higher was supported by a more than 3% gain in Tesla. Shares of the electric vehicle maker weighed on the market Thursday, tumbling 14%, as CEO Elon Musk sparred with President Donald Trump on social media. Other major tech-related names such as Nvidia, Meta Platforms and Apple also traded higher on the day.
Those gains came after U.S. payrolls climbed 139,000 in May, the Bureau of Labor Statistics reported Friday, above the Dow Jones forecast of 125,000 for the month but less than the downwardly revised 147,000 in April. The unemployment rate was unchanged at 4.2%.
“Today’s jobs report will not be viewed as a call to action for the Fed to cut rates,” said Eric Merlis, managing director and co-head of global markets at Citizens. “The unemployment rate remained unchanged and, while other measures are pointing to a softer labor picture, the demand for workers remains stable as businesses adjust to policy shifts.”
A series of data released earlier this week signaled a possible economic slowdown, raising questions about the impact of the multi-front tariff negotiations and the next steps for the Federal Reserve, which next meets to set interest rate policy on June 17-18.
On Thursday, unemployment claims for last week’s period came in higher than expected. That came a day after ADP reported that private sector payrolls saw a gain of just 37,000 in May, which substantially missed the Dow Jones estimate for 110,000. Activity in the U.S. services sector also weakened unexpectedly last month.
The major indexes are on pace for meaningful gains for the week. The S&P 500 and Dow are up nearly 2% and 1.5%, respectively, week to date, while the Nasdaq Composite is up more than 2%.
Health care industry powered job gains in May
The better-than-expected May jobs report was fueled largely by the health care industry.
The health care and social assistance category grew by more than 78,000 jobs in May, accounting for more than half of the economy’s net gains. Leisure and hospitality was the next strongest sector, adding 48,000 jobs.
Five categories lost jobs, including manufacturing, which shrank by 8,000.
— Jesse Pound, Gabriel Cortés
Stocks open higher Friday
Stocks jumped on Friday morning.
The Dow Jones Industrial Average jumped 423 points, or 1%, shortly after the opening bell. The S&P 500 also rose about 1%, while the Nasdaq Composite gained 1.2%.
— Sean Conlon
Deepwater’s Gene Munster says Telsa’s dive Thursday was an ‘overreaction’
NEW YORK, NEW YORK – JUNE 05: A Tesla car dealership stands on June 05, 2025 in the Brooklyn borough of New York City. As the relationship between Tesla CEO Elon Musk and U.S. President Donald Trump becomes increasingly strained, shares of Tesla dropped by more than 14% on Thursday. (Photo by Spencer Platt/Getty Images)
Spencer Platt | Getty Images News | Getty Images
As Tesla CEO Elon Musk and President Donald Trump exchanged public jabs, the EV maker’s stock tumbled more than 14%, but Gene Munster, managing partner at Deepwater Asset Management, said the move was an “overreaction.” Tesla stock was bouncing back more than 5% in premarket trading on Friday.
Munster said that Tesla’s lofty valuation is tied to investor bets on the company’s future in self-driving vehicles, and he doesn’t think the spat puts its robotaxi efforts in jeopardy.
“Ultimately, I think that the president wants to do what is right for the country, despite, I think, all the personalities between the two and wanting to get a kind of one-up manship,” he said. Munster argued that it’s more important for the country to support Tesla in the artificial intelligence “arms race” with China.
“I’m fast-forwarding one to five years from now, and in Europe and the rest of the world, it would be a little bit odd, I think, for this personality blow up to really slow down that pace of innovation. And so ultimately, I think that what is best for the country is autonomy to move forward. And I think that means that this is going to continue to move forward.”
Munster said he owns Telsa stock in his personal accounts and would continue to buy its shares.
— Christina Cheddar Berk
U.S. payrolls rose more than expected in May
Nonfarm payrolls gained 139,000 in May, above the 125,000 that economists polled by Dow Jones had estimated but slightly below the downwardly revised 147,000 that the U.S. economy added in April.
The unemployment rate stayed at 4.2%.
— Jeff Cox
Stocks making premarket moves
Here are some of the names making moves before the bell:
Broadcom — The chipmaker slipped nearly 3% on the heels of lackluster free cash flow in the second quarter. Broadcom reported free cash flow of $6.41 billion, versus the $6.98 billion consensus estimate from FactSet.
Circle Internet Group — Shares of the stablecoin company popped nearly 12%, following its 168% rally during its debut on the New York Stock Exchange Thursday.
Lululemon — The stock sank 21% after the athleisure company’s second quarter outlook missed analyst estimates. he firm also slashed its earnings outlook for the full year.
To see more stocks moving during premarket trading, read the full story here.
— Michelle Fox
Tesla shares tick 4.5% higher in premarket after $152 billion wipeout
President Donald Trump holds a news conference with Elon Musk to mark the end of the Tesla CEO’s tenure as a special government employee overseeing the U.S. DOGE Service on Friday May 30, 2025 in the Oval Office of the White House in Washington.
Tom Brenner | The Washington Post | Getty Images
Tesla share price.
— Jenni Reid
Small caps lead for the week entering Friday
With one day left in trading for the week, here’s where the major averages stand:
- The Dow is up 0.12% week to date, on pace for its second positive week in a row
- The S&P is up 0.47% on the week, headed for its second positive week in a row
- The Nasdaq Composite is up 0.97% week to date, on track for its second positive week in a row
- The small cap Russell 2000 is up 1.50% for the week, on pace for its eight positive week in nine.
— Jesse Pound, Christopher Hayes
Nasdaq 100 futures, S&P 500 futures fall at the open
Futures for the Nasdaq 100 and S&P 500 dipped 0.4% and 0.2%, respectively, when trading resumed on Thursday evening. Dow futures were little changed.
— Jesse Pound
Lululemon’s slide highlights after hours movers
A customer shops in a Lululemon store on April 03, 2025 in Miami Beach, Florida.
Joe Raedle | Getty Images
Shares of Lululemon sank 22% in extended trading after the apparel company cut its full-year earnings guidance, citing a “dynamic macroenvironment.”
However, the firm was not the only company whose quarterly report led to a big after hours move:
- Docusign fell 17% after billings growth was slower than expected in the first quarter, according to FactSet.
- Broadcom slipped 3% after reporting only modest beats on the top and bottom lines, according to analysts surveyed by LSEG, and free cash flow that was weaker than expected, according to FactSet.
Check out more movers here.
— Jesse Pound
