U.S. payrolls increased 139,000 in May, more than expected; unemployment at 4.2%. Nonfarm payrolls were expected to increase 130,000 in June while the unemployment rate stayed at 4.2%.
Market Snapshot
US stock futures extend rally after jobs data. Nasdaq, S&P futures gained over 0.8% each.
Pre-Market Movers
Tesla rose 4.25% in premarket trading after the electric-vehicle company's shares sank 14% on Thursday following the exchange of insults between Musk and Trump. After expressing his disappointment with Musk for criticizing his tax-and-spending bill -- the Tesla chief executive called it a "disgusting abomination" -- Trump escalated their war of words by threatening to eliminate government subsidies and contracts for Musk's businesses.
Tesla closed Thursday with a market capitalization of $915.7 billion, down $152.4 billion on the day, the largest one-day market cap decline for Tesla on record, according to Dow Jones Market Data.
Shares of Trump Media & Technology Group, the parent of social media site Truth Social and which was launched by President Trump, were up 1.4%. They tumbled 8% on Thursday as the Musk-Trump relationship splintered.
Broadcom was down 2.7% after the semiconductor and software company reported fiscal second-quarter earnings that slightly beat analysts' estimates on revenue of $15 billion, better than consensus of $14.96 billion. Sales from artificial intelligence jumped 46% from a year earlier to $4.4 billion, "driven by robust demand for AI networking," said Chief Executive Hock Tan said. The CEO said Broadcom expects growth in AI semiconductor revenue to rise to $5.1 billion in the third quarter, "delivering 10 consecutive quarters of growth, as our hyperscale partners continue to invest."
Rival chip maker Nvidia, the leading maker of AI chips, was up 0.6% after Broadcom's quarterly earnings report showed that demand for artificial intelligence remains robust. AI companies Palantir Technologies and Super Micro Computer also were trading higher, rising 2.6% and 2.5%, respectively.
Microsoft rose 0.4% in the premarket session. The software giant closed up 0.8% on Thursday to a record high of $467.68. It ended the session with a market cap of $3.476 trillion, making it the most-valuable U.S. company, topping both Nvidia ($3.416 trillion) and Apple ($2.997 trillion). Micosoft has risen for six consecutive sessions.
Circle Internet Group was up 16% in premarket trading at $95.45 after the leader in the world of stablecoins closed up 167% at $82.88 in its trading debut Thursday. Circle's initial public offering price was $31 a share.
Lululemon Athletica was falling 21% after first-quarter earnings and sales topped analysts' expectations but the maker of yoga pants cut profit guidance for the fiscal year because of higher tariff-related costs and more markdowns. Lululemon said it expects fiscal-year earnings of between $14.58 to $14.78 a share, down from prior guidance of $14.95 to $15.15. The high end of Lululemon's new range is lower than Wall Street forecasts of $14.86.
Samsara, the internet-of-things company, posted first-quarter earnings and revenue that beat expectations but issued revenue guidance for the second quarter that while slightly higher than estimates disappointed investors. Shares fell 11%.
Rubrik reported a narrower-than-expected first-quarter loss as revenue jumped 49% to $278.5 million, topping estimates of $260 million. The cybersecurity company was rising 3.1%.
Docusign was down 18% after the e-signature company reported first-quarter billings of $739.6 million, up 4% from a year earlier, but the metric was below company projections of $741 million to $751 million. Docusign said it expects billings in the fiscal year of around $3.3 billion, down from a prior forecast of as high as $3.4 billion.
ServiceTitan, a software platform for trade businesses, tumbled 10% even as first-quarter earnings and revenue topped Wall Street forecasts.
Market News
Tesla Short Sellers Pocket About $4 Billion In Profits After Musk-Trump Spat
Traders raked in $4 billion in profit from their short positions in Tesla shares TSLA.O on Thursday after a public feud between President Donald Trump and CEO Elon Musk drove the biggest single-day drop in market value.
The gains from betting against the EV maker were the second biggest, data from analytics firm Ortex showed. Traders had pocketed $5.4 billion from a selloff on September 8, 2020, after the firm was looked over for inclusion into the S&P 500 .SPX index.
Cathie Wood’s ARK Buys Circle Internet, Sells Coinbase Stock
Cathie Wood’s ARK ETFs have reported their daily trades for Thursday, 05 June 2025, with significant activity across a range of technology and internet-focused stocks. Leading the trades was a substantial purchase of Circle Internet Corp. shares and a notable sell-off of Coinbase Global, Inc. shares, reflecting a reshuffling of the investment firm’s portfolio.
ARK’s most significant move was the acquisition of 4,486,560 shares of Circle Internet Group Inc (NYSE:CRCL), valued at approximately $139 million. The shares were bought through three different ARK funds: ARKK, ARKW, and ARKF, indicating a strong bullish stance on the company. This purchase follows a trend of ARK increasing its position in Circle Internet, suggesting a strategic accumulation of the stock.
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