Strong jobs report, Tesla rebound buoy markets as S&P 500 nears all-time highs
- S & P 500 jump 1 % on Friday amid a positive report on jobs and a recovery in Tesla shares after Thursday, the disastrous Thursday, in which Elon Musk and president Donald Trump clashed on social media.
The markets have a wave. After the work statistics office published a strong report on the jobs on Friday, the S& P 500 profit daily recorded 1 % and a weekly increase of 1.8 %. The Nasdaq Stock Exchange jumped by 1.2 %, and Dow Jones rose 1 %. S&P 500 crossed a mark of 6000 points, only 2.4 % lower than its highest levels ever in February.
The economists surveyed by FactSet expected that the United States would add only 130,000 jobs in May amid the ongoing trade war Donald Trump, a noticeable decrease from 177,000 in April. On Friday, the United States government announced the addition of 139,000 jobs last month and the number he said was added to March and April by 95,000.
The Federal Agency also said that the unemployment rate in May remained steady by 4.2 %. Analysts closely monitor this number to see if Trump’s wing of severe definitions had an impact on the economy. “The unemployment rate should be more important than salary statements, given possible disturbances to display employment,” said analysts at Bank of America in a research note on Friday before publishing job data.
Meanwhile, Tesla, a giant for the manufacture of electric cars, witnessed the recovery of stocks by 3.7 % on Friday. Elon Musk, CEO of Tesla and former Trump team head, was a dramatic break with the 47th president on Thursday after criticizing the tariff of the supreme leader and the proposed budget. “Trump’s tariff will cause stagnation in the second half of this year,” he wrote on X, the social media platform he possesses.
A record number of $ 150 billion in the market value in Tesla was eliminated on Thursday and Musk witnessed a decrease in the net value of 34 billion dollars, according to the Bloomberg billionaires. However, the price of Tesla’s shares recovered on Friday amid increasing the wider market.
Other technology fans were also. Meta saw its shares jumping 1.9 %, Apple increased by 1.6 %, and Microsoft increased by 0.6 %. The Circle, one of Stablecoin, who was in public on Thursday, continued to ride the hot public subscription as its shares increased by 30 % to end the week.
On Friday, positive gains crowned a chaotic week that also witnessed investors to see Trump negotiations with the Chinese government on definitions. On Thursday, US President Xi Jinping spoke to the President of the People’s Republic, in an attempt to cancel a trade war between the two countries.
This story was originally shown on Fortune.com
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2025-06-06 20:08:00
