Overview

• The U.S. economy added 139,000 jobs in May, surpassing forecasts and easing fears of a tariff-driven slowdown in the labor market.
• The S&P 500 rose 1% to close above 6,000 for the first time since February after reports of renewed US-China trade negotiations bolstered market sentiment.
• Tesla shares climbed 3.7% as tensions between CEO Elon Musk and President Donald Trump showed signs of de-escalation over the weekend.
• Lululemon stock plunged nearly 20% following a cut to its quarterly and full-year guidance amid soft consumer spending and potential tariff impacts.
• AI and tech sectors diverged with Docusign tumbling nearly 19% on a billings miss while Palantir jumped 6.5% and Broadcom reported record quarterly revenue driven by AI semiconductor sales.