Friday Afternoon Coffee - Markets Update - 6 June 2025 - Wall Street Climbs on Strong Jobs Report; Tesla, Tech Stocks Lead Rally

The Trade Academy Team
Jun 6
2 min read

Markets Update: U.S. stocks advanced Friday as a stronger-than-expected jobs report soothed fears of a weakening economy, lifting investor sentiment and boosting major indexes. Tesla rebounded from a sharp selloff, and gains in energy and tech sectors helped sustain the rally.

Global Markets Roundup: 6 June 2025

By B.P. Wolff

June 6, 2025

Jobs Data Eases Growth Concerns

Nonfarm payrolls rose by 139,000 in May, surpassing economists’ expectations of 130,000, though April’s figure was revised down to 147,000. The unemployment rate held steady at 4.2%, matching forecasts.

With job growth holding up, traders are pushing back expectations for Federal Reserve rate cuts. Markets now see the central bank staying on hold until September, with only one rate cut projected by year-end. The Fed’s next policy meeting is later this month.

Indexes Hit Three-Month Highs

Major indexes surged to multi-month highs, continuing a rally that began in May when the S&P 500 and Nasdaq posted their strongest monthly gains since November 2023. By late morning Friday:

Dow Jones Industrial Average: +330.86 points (+0.78%) to 42,650.60
S&P 500: +51.23 points (+0.86%) to 5,990.53
Nasdaq Composite: +202.24 points (+1.05%) to 19,500.69

Ten of the S&P 500’s 11 sectors rose, with energy up 1.9% and tech up 0.9%. Advancing stocks outnumbered decliners by more than 2-to-1 on both the NYSE and Nasdaq.

Tesla Jumps; Lululemon, DocuSign Slide

Tesla rallied 5.5%, rebounding from a 15% plunge Thursday amid public friction between Donald Trump and Elon Musk. Other megacap tech names also gained, including:

Amazon: +1.5%
Alphabet: +2.6%
However, Broadcom fell 3.6% after its revenue outlook disappointed.
Lululemon shares sank 20.2% after the company slashed its annual profit forecast, citing tariff-related cost pressures.
DocuSign dropped 18.5% following weak first-quarter results.

Commodities Mixed; Gold Drops on Rising Yields

Gold prices fell sharply as bond yields and the U.S. dollar spiked on the jobs report. August gold futures dropped $30.80 to $3,344.30 per ounce.

The U.S. Dollar Index DXY climbed 0.5% to 99.275, pressuring the euro, EURUSD which retreated to below $1.14 from Thursday’s six-week high of $1.149.

Oil gained on economic optimism and the prospect of U.S.-China trade talks next week.

WTI Crude (July): +$1.21 to $64.58/barrel
Brent Crude (August): +$0.99 to $66.33/barrel

Coffee futures surged past $3.70/lb, their highest level since May 19, driven by technical factors and strong supply expectations.

Grains rose across the board:

Corn: +1.1%
Wheat: +1.0%
Soybeans: +0.7%

Outlook

While the labor market shows resilience, economic and trade uncertainties remain. The White House confirmed a high-level meeting with Chinese officials will occur within the next week, following a Thursday call between Trump and President Xi Jinping. Although progress was made, several contentious issues were left unresolved.

Looking forward, refer to the economic calendar below to see the upcoming events scheduled for today and the rest of the week.

General news - Information source from multiple newswires.

The article and the data is for general information use only, not advice!

The Trade Academy Team