Here are five key things investors need to know to start the trading day:
1. Up and back
2. Good call
Chinese President Xi Jinping attends a meeting with Russian President Vladimir Putin at the Kremlin in Moscow, Russia, May 8, 2025.
Kirill Kudryavtsev | Via Reuters
3. Role call
A ‘we’re hiring’ pamphlet at the Generali Global Assistance booth at the Mega JobNewsUSA South Florida Job Fair at the Amerant Bank Arena on April 30, 2025, in Sunrise, Florida.
Joe Raedle | Getty Images
Friday is the monthly jobs report. Economists expect nonfarm payroll additions for May of 125,000. That would be notably lower than April’s initial read of 177,000 jobs added and the year-to-date monthly average of 144,000. “Going into the NFP print, expectations have been reset lower and a reading of around 100,000 (vs. the 125,000 expected by the consensus) could fall in the ‘not-as-bad-as-feared'” camp, according to Julien Lefargue, chief market strategist at Barclays Private Bank. “Anything below the 100,000 mark could reignite recession fears, while a stronger-than-expected print could perversely be negative for risk assets as it would likely put upward pressure on [Treasury] yields.”
4. Fall out boys
U.S. President Donald Trump and Elon Musk attend a press event in the Oval Office of the White House in Washington, D.C., U.S., May 30, 2025.
Nathan Howard | Reuters
5. Lay off
Mathisworks | Digitalvision Vectors | Getty Images
Corporate job cuts are piling up. Companies from Amazon to Walmart are among the names that have announced headcount reductions in recent weeks. Procter & Gamble said Thursday it would slash 7,000 jobs, amounting to 15% of its non-manufacturing staff. Citigroup said it would cut 3,500 positions in China. The string of announcements comes as businesses pull back and hunker down in the face of trade and policy uncertainty.
– CNBC’s Jesse Pound, Kevin Breuninger, Jeff Cox, Dan Mangan, Lora Kolodny, Chris Eudaily, Ali McCadden and Amelia Lucas contributed to this report.
