Please ensure Javascript is enabled for purposes of website accessibility
Wall Street Gains Ground Following a Solid Jobs Report
gvw_ap_news
By Associated Press
Published 12 hours ago on
June 6, 2025

Stock markets surge after strong employment data shows resilient job growth despite trade tensions. (AP/Richard Drew)

Share

NEW YORK — Stocks rose on Wall Street Friday following a better-than-expected report on the U.S. job market.

The S&P 500 index rose 1.2% in morning trading. The benchmark index remains on track to notch a second consecutive winning week.

The Dow Jones Industrial Average added 482 points, or 1.1% as of 11:11 a.m. Eastern. The Nasdaq composite rose 1.4%

Technology Stocks Lead Market Rally

The gains were broad, with nearly every sector in the benchmark S&P 500 rising. Technology stocks, with their outsized values, gave the market its biggest boost. Chipmaker Nvidia jumped 1.7% and iPhone maker Apple rose 1.5%.

Tesla rose 6.8%, regaining some the big losses it suffered on Thursday when Trump and Musk sparred feverishly on social media.

U.S. employers slowed their hiring last month, but still added a solid 139,000 jobs amid uncertainty over President Donald Trump’s trade war. The closely-watched monthly update reaffirmed that the job market remains resilient, despite worries from businesses and consumers about the impact of tariffs on goods going to and coming from the U.S. and its most important trading partners.

Tariff Concerns Continue to Impact Companies

President Donald Trump’s on-again-off-again tariffs continue to weigh on companies. Lululemon plunged 19.8% after the maker of yoga clothing cut its profit expectations late Thursday as it tries to offset the impact of tariffs while being buffeted by competition from start-up brands.

Lululemon joins a wide range of companies, from retailers to airlines, who have warned investors about the potential hit to their revenue and profits because of tariffs raising costs and consumers potentially tightening their spending.

Hopes that Trump will lower his tariffs after reaching trade deals with other countries have been among the main reasons the S&P 500 has rallied back so furiously since dropping roughly 20% from its record two months ago. It’s now back within 2.2% of its all-time high.

The economy is already absorbing the impact from tariffs on a wide range of goods from key trading partners, along with raw materials such as steel. Heavier tariffs could hit businesses and consumers in the coming months.

Federal Reserve Faces Delicate Balancing Act

The U.S. economy contracted during the first quarter. Recent surveys by the Institute for Supply Management, a trade group of purchasing managers, found that both American manufacturing and services businesses contracted last month. On Tuesday, the Organization for Economic Cooperation and Development forecast 1.6% growth for the U.S. economy this year, down from 2.8% last year.

The uncertainty over tariffs and their economic impact has put the Federal Reserve in a delicate position. The central bank is holding its benchmark interest rate steady as it worries about tariffs reigniting inflation. It fought hard, though interest rate increases, to ease inflation rates back toward its target of 2% and rates have been hovering just above that level.

The Fed has been hesitant to cut interest rates in 2025 after trimming rates three times late last year. While lower interest rates can give the economy a boost, they can also push inflation higher. That could be especially damaging if import taxes are also raising costs for businesses and consumers.

The central bank is expected to hold rates steady at its June meeting, but traders are forecasting that it will have to cut interest rates later this year in an effort to prop up the economy.

In the bond market, Treasury yields gained ground. The yield on the 10-year Treasury rose to 4.48% from 4.39% late Thursday. The two-year Treasury yield, which more closely tracks traders’ expectations for what the Federal Reserve will do with overnight interest rates, rose to 4.02% from 3.92% late Thursday.

Markets in Asia were mixed and markets in Europe were were mostly higher.

___

AP writers Elaine Kurtenbach and Matt Ott contributed to this report.

RELATED TOPICS:

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

DON'T MISS

First California EV Mandates Hit Automakers This Year. Most Are Not Even Close

DON'T MISS

test

DON'T MISS

World’s Largest Almond Processor Will Shutter Sacramento Plant. 600 Workers Impacted

DON'T MISS

Trump Eyes Major Funding Cuts for California, Including All Public Universities

DON'T MISS

Farming Regulation Costs Rise 1,300% Since 2006: Cal Poly

DON'T MISS

Southern California Air Regulators Weigh a Plan to Phase Out Gas Furnaces and Water Heaters

DON'T MISS

US Supreme Court Allows DOGE Broad Access to Social Security Data

DON'T MISS

Doctors Were Preparing to Remove Their Organs. Then They Woke Up.

DON'T MISS

Abrego Garcia Is Returned to US From El Salvador

DON'T MISS

Proud Boys Convicted in Jan. 6 Attack Sue Government on Claims of ‘Political Persecution’

DON'T MISS

FDA’s AI Assistant ‘Elsa’ Fails Its First Day on the Job

UP NEXT

Trump Eyes Major Funding Cuts for California, Including All Public Universities

UP NEXT

Farming Regulation Costs Rise 1,300% Since 2006: Cal Poly

UP NEXT

Southern California Air Regulators Weigh a Plan to Phase Out Gas Furnaces and Water Heaters

UP NEXT

US Supreme Court Allows DOGE Broad Access to Social Security Data

UP NEXT

Doctors Were Preparing to Remove Their Organs. Then They Woke Up.

UP NEXT

Abrego Garcia Is Returned to US From El Salvador

UP NEXT

Proud Boys Convicted in Jan. 6 Attack Sue Government on Claims of ‘Political Persecution’

UP NEXT

FDA’s AI Assistant ‘Elsa’ Fails Its First Day on the Job

UP NEXT

Documentary Series Goes Inside Trump’s Bubble

UP NEXT

Tulare County Gang Member Convicted of Trying to a Murder Police Officer

Southern California Air Regulators Weigh a Plan to Phase Out Gas Furnaces and Water Heaters

4 hours ago

US Supreme Court Allows DOGE Broad Access to Social Security Data

4 hours ago

Doctors Were Preparing to Remove Their Organs. Then They Woke Up.

4 hours ago

Abrego Garcia Is Returned to US From El Salvador

4 hours ago

Proud Boys Convicted in Jan. 6 Attack Sue Government on Claims of ‘Political Persecution’

5 hours ago

FDA’s AI Assistant ‘Elsa’ Fails Its First Day on the Job

5 hours ago

Documentary Series Goes Inside Trump’s Bubble

5 hours ago

Tulare County Gang Member Convicted of Trying to a Murder Police Officer

5 hours ago

Newsom Promises Funding to Jump-Start ‘Science of Reading’

6 hours ago

Feds Indict SoCal Hospice CEO for Medicare Fraud in Fresno and Kern Counties

6 hours ago

World’s Largest Almond Processor Will Shutter Sacramento Plant. 600 Workers Impacted

The world’s largest almond processor, Blue Diamond Growers, says it will close its Sacramento processing plant this year The almond co...

2 hours ago

2 hours ago

World’s Largest Almond Processor Will Shutter Sacramento Plant. 600 Workers Impacted

4 hours ago

Trump Eyes Major Funding Cuts for California, Including All Public Universities

4 hours ago

Farming Regulation Costs Rise 1,300% Since 2006: Cal Poly

5 hours ago

Southern California Air Regulators Weigh a Plan to Phase Out Gas Furnaces and Water Heaters

5 hours ago

US Supreme Court Allows DOGE Broad Access to Social Security Data

5 hours ago

Doctors Were Preparing to Remove Their Organs. Then They Woke Up.

5 hours ago

Abrego Garcia Is Returned to US From El Salvador

6 hours ago

Proud Boys Convicted in Jan. 6 Attack Sue Government on Claims of ‘Political Persecution’

Help continue the work that gets you the news that matters most.

Search

Send this to a friend