Overview

• The Bureau of Labor Statistics reported 139,000 jobs added in May, topping forecasts and highlighting labor market resilience.
• The S&P 500 closed above 6,000 for the first time since February after a 1% gain on robust jobs data and renewed US-China trade negotiations.
• Tesla shares rose 3.7% as tensions between CEO Elon Musk and President Trump eased heading into the weekend.
• Tech stocks led the rally with Palantir up 6.5% on strong AI demand and government contracts, while Broadcom recorded a year-over-year jump in AI semiconductor revenue.
• Consumer names faced headwinds as Lululemon trimmed its sales outlook due to cautious spending and tariff concerns, Docusign cut its billings forecast, and G-III Apparel withdrew its guidance.