US stocks end up on jobs data, China hopes; Tesla bounces
By Saeed
Azhar, Kanchana Chakravarty and Sukriti
Gupta
Fri June 6, 2025 4:26 PM
After the week’s pessimism over the health of the job market and the anticipated data in today’s payrolls report, the markets were overjoyed that jobs came in 9,000 higher than forecast, especially with April’s numbers having been revised downward. It reignited confidence that the job market was steady, unemployment was steady, and consequently the economy as a whole. This caused an immediate surge at opening bell on all the indexes, the Dow up some 600 points and more or less staying steady all day and closing 443 up.
Tech also had a very good day on news that Trump’s reps would be meeting with Xi’s reps in London on Monday. There remains the issue that the labor market has to soften more before the Fed will cut rates further but the bets remain for cuts in both September and December. All three indexes had gains for the week between 1.2% and 2.2% with the S&P now having regained all but about 2% of its losses since February’s record high. At 14.5 billion, volume was well below the average of 17.8 billion.
DJ: 42,319.74 -108.00 NAS: 19,298.45
-162.04 S&P: 5,939.33
-31.48 6/5
DJ: 42,762.87 +443.13 NAS: 19,529.95
+231.50 S&P: 6,000.36
+61.06 6/6
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