US stocks rallied on Friday, with the S&P 500 adding 1% to cross over the 6,000 mark and hitting its highest level since February, boosted by a stronger-than-expected jobs report and renewed optimism around US-China trade talks.
The Dow gained 442 points and the Nasdaq rose 1.2%, led by a sharp rebound in Tesla, which jumped 3.7% after tensions between Elon Musk and President Trump appeared to cool. The labor market added 139K jobs in May, exceeding forecasts and easing fears of a near-term slowdown.
Meanwhile, Trump offered a glimmer of optimism on the trade front, announcing that US-China negotiations are set to resume next week in London. Still, President Donald Trump called on Fed Chairman Powell to cut interest rates by a full percentage point, calling it "rocket fuel" for the economy.
Major tech stocks, including Nvidia (1.2%), Meta (1.9%), and Apple (2.1%) posted gains. For the week, all three major indexes advanced, with the S&P and Dow up over 1% and the Nasdaq rising 2%.
Source: Trading Economics
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