US stocks end lower, crude gains as Trump-Musk row distracts from trade talks, data
By Stephen
Culp
Thu June 5, 2025 4:21 PM
The indexes moved in a herky-jerky fashion today as they fluctuated between red and black, the Dow swinging in almost a 400-point range between -200 and +200 several times. All three ended negative, the Dow and Nasdaq in triple digits. The upward surges were encouragement from the news that today Trump phoned Xi to talk trade, the result being a willingness to have more talks. The downward surges came as a consequence on the online feud between Trump and Musk being played out all day live on social media. Tesla’s stock dropped 14.3%.
There was more downward thrust from two disappointing batches of labor data dampening expectations that Friday’s payrolls report will be positive, but also providing encouragement that it may motivate the Fed to have more rate cuts sooner. There is a range of opinion as to whether the budget bill will deal with the debt. As far as China goes, today’s expert says, “The market seems to be accepting that if they’re talking, they’re not going to do anything drastic, then it’s okay to buy stocks. People want to own stocks.” Per the CBOE, volume came in at 17.6 billion, quite close to the 17.8 billion average.
DJ: 42,427.74 -91.90 NAS: 19,460.49
+61.53 S&P: 5,970.81
+0.44 6/4
DJ: 42,319.74 -108.00 NAS: 19,298.45 -162.04 S&P: 5,939.33 -31.48 6/5
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