Key Takeaways
- The S&P 500 added 1% on Friday, June 6, as a strong jobs report pointed to resilience in the labor market despite tariff-related concerns.
- After retreating from record highs over the past few sessions, shares of data analytics firm Palantir bounced back, boosted by a signal of robust AI demand.
- Shares of Lululemon plummeted after the apparel maker cut its outlook for the current quarter and the full year, citing soft consumer spending.
Major U.S. ✅equities indexes pushed higher to close out the trading🐷 week.
The Bureau of Labor Statistics reported that the U.S. economy added 139,000 jobs in May, topping economists' forecasts and helping alle🐽viate concerns about a tariff-driven slowdown in the labor market.
The S&P 500 ga🍰ined 1% on Friday, closing above the 6,000-point level for the first time since February. The Dow was up 1.1%, while the Nasdaq jumped 1.2%.
Shares of big data analytics software provider Palantir Technologies (PLTR) popped 6.5% higher, securing the top daily performance in the S&P 500. Positivity around its expanding government business helped lift Palantir to an all-time high on Tuesday, but before Friday's gains, the stock had been pulling back for a couple of sessions. Palantir and other artificial intelligence companies benefited from upbeat sentiment after earnings results from chipmaker Broadcom (AVGO) revealed strong AI demand.
Moderna (MRNA) shares wrapped up a volatile week of trading with a gain of 5.1% on Friday. The biotech company announced at the end of last week that it had re𒈔ceived Food and Drug Administration (FDA) approval for the use of its new COVID-19 vaccine by older and higher-risk patients. On Tuesday, Health and Human Services Secretary Robert F. Kenne⛦dy Jr. said Moderna had agreed to a placebo-controlled trial of the vaccine.
United Airlines (UAL) announced a partnership with Spotify Technology (SPOT) that will allow airborne passengers to access playlists, audiobooks, and video podcasts from the streaming service on their seatback screens. United shares increased 4.8% on Friday, while rival carrier Delta Air Lines (DAL) shares were up 4.3%.
Tesla (TSLA) shares advanced 3.7% on Friday as the feud between Tesla CEO Elon Musk and U.S. President Donald Trump showed signs of de-escalation heading into the weekend. The spat between the two contributed to 澳洲幸运5官方开奖结果体彩网:a major drop in the electric vehicle (EV) maker's stock in the prior session. Several analysts 澳洲幸运5官方开奖꧑结果体彩网:reaffirmed their bullishness oౠn Tesla despite the high-profile conflict, but they noted that the tensions with Trump could complicate the regulatory path for the firm's self-driving technology or risk alienating people with certain political perspectives.
Lululemon Athletica (LULU) issued 澳洲幸运5官方开奖结果🦂体彩网:lower-than-expected sales an♑d profit guidance for the current quarter and trimmed its full-year profit forecast. The maker of yoga attire and other athletic apparel noted that U.S. consumers are taking a cautious approach to spending and discussed plans to increase prices on some products as it aims to mitigate tariff impacts. Lululemon shares plunged 19.8% on Friday, dropping the most of any constituent in the S&P 500. JPMorgan and UBS analysts cut their price targets on Lululemon stock following the underwhelming outlook.
Broadcom posted fiscal second-quarter sales and adjusted profit results that were roughly in line with consensus forecasts. A 澳洲幸运5官方开奖结果体彩网:major year-over-year uptick in artificial intelligence semiconductor revenue helped the chipmaker achieve record quarterly revenue of $15 billion. However, Broadcom shares slipped 5% on Friday, receding from a 澳洲幸运5官方开奖结果体彩网:string of record highs notched before the earnings release.
Mosaic (MOS), a provider of fertilizers and other agricultural products, reduced its 2025 phosphate production guidance, citing operational issues at its U.S. facilities. Shares of Mosaic were down 4.4%.