U.S. stocks rise across the board; Dow up 1.05%, Nasdaq up 1.2%, S&P 500 up 1.03%

U.S. stocks rise across the board; Dow up 1.05%, Nasdaq up 1.2%, S&P 500 up 1.03%

U.S. stocks rallied across the board on Friday, with the S&P 500 (^GSPC) breaching the 6,000 level following a moderate beat on the monthly jobs report and rising investor hopes of a cooldown in the acrimonious feud between President Trump and Elon Musk. The S&P 500 (^GSPC) added about 1.0% to close at the 6,000 mark, its highest level since February. The Dow Jones Industrial Average (^DJI) rose over 400 points, or 1.1%, while the tech-heavy Nasdaq Composite (^IXIC) gained 1.2% [1].

The monthly employment report from the Labor Department showed that U.S. employers added 139,000 jobs in May, compared with the 126,000 that economists had expected, while the unemployment rate held steady at 4.2%. The jobs report underscores the continued resilience of the labor market amid concerns that tariffs could hinder economic growth [3].

Tesla (TSLA) shares rebounded as CEO Musk and President Trump's feud took a backseat. 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 [1].

On Friday, President Trump said high-level trade talks with China would take place in London this upcoming Monday. The latest on Trump's tariffs [1]. Meanwhile, the labor market showed more signs of resilience as Trump's tariffs continued to seep into the economy [2].

The yield on the 10-year Treasury note, which affects borrowing costs on a wide range of loans, notably mortgages, was at 4.46%, up from 4.39% at yesterday's close. The U.S. dollar index, which measures the performance of the dollar against a basket of foreign currencies, rose 0.4% to 99.10. Gold futures were up 0.2% to $3,380 an ounce, while West Texas Intermediate futures, the U.S. crude oil benchmark, rose 0.1% to $63.40 [3].

Wall Street is 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 is up more than 2% [4]. The yield on the 10-year Treasury bond advanced eight basis points to 4.47% as faster-than-expected US job and wage growth prompted markets to trim back bets that the Federal Reserve will cut interest rates this year [4].

References:
[1] https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-surge-after-jobs-report-tesla-jumps-on-musk-trump-cooldown-133037032.html
[2] https://www.cnbc.com/2025/06/05/stock-market-today-live-updates.html
[3] https://www.investopedia.com/dow-jones-today-06062025-11749583
[4] https://www.ndtvprofit.com/markets/us-stock-market-today-sp-500-reclaims-6000-points-dow-jones-nasdaq-jump-1-per-cent