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Market Rebounds as Tesla Surges Amid Musk-Trump Truce
Wall Street saw a positive shift on Friday as Dow, S&P 500, and Nasdaq futures climbed following the latest U.S. jobs report and signs of easing tensions between Elon Musk and President Donald Trump.
The Dow Jones Industrial Average futures rose 0.7%, while the S&P 500 gained 0.8%, and the Nasdaq 100 advanced 0.9%. Investors welcomed the May jobs report, which showed the U.S. economy added 139,000 jobs, slightly surpassing expectations, while the unemployment rate remained steady at 4.2%.
Tesla (TSLA) shares rebounded after a 14% drop on Thursday, as Musk and Trump signaled a willingness to de-escalate their public feud. Musk backed off his threat to decommission NASA’s Dragon spacecraft, while reports suggested a potential peace call between the two.
The market’s optimism comes amid broader concerns over Trump’s tariff policies and their impact on economic growth. Investors are now watching closely for further developments in the Musk-Trump relationship and how it might affect Tesla’s standing in the market.
With political tensions cooling and economic indicators showing resilience, Wall Street is cautiously optimistic heading into the weekend.
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