Futures tied to the Dow Jones Industrial Average rose 0.3%, while S&P 500 futures were up 0.4%. The Nasdaq 100 futures, which heavily features tech stocks like Tesla, climbed about 0.5%.
This pre-market bounce comes after a brutal Thursday when Tesla stock plunged over 14%, driven by escalating tensions between Trump and Musk that sent shockwaves through Wall Street. But Friday brought a shift in tone, with both camps softening their positions and signaling willingness to de-escalate.
How are stock futures moving?
Here’s where things stood around 7:35 a.m. ET:
- S&P 500 Futures: Up 0.37% to around 5,969
- Dow Jones Futures: Up 0.31% to around 42,499
- Nasdaq 100 Futures: Up 0.44% to about 21,678
Tech stocks are leading the early momentum, with Tesla making a notable comeback in pre-market trading. Investors are also eyeing the U.S. jobs report due later today, which could influence the Federal Reserve’s stance on interest rate cuts.
Who’s gaining big in pre-market trading?
A few names are soaring in early trading, mostly among small-cap and biotech stocks. Here’s a quick roundup of the top pre-market gainers:
| Ticker | Name | Price Move |
| BJDX | Bluejay Diagnostics | +68.4% (to $2.56) |
| EYEN | Eyenovia Inc. | +41.7% (to $4.45) |
| TTGE | T Stamp Inc. | +25.3% (to $12.58) |
| GLYC | GlycoMimetics Inc. | +22.0% (to $0.24) |
These surges are likely tied to news-driven catalysts and volume spikes in speculative trading.
Who’s falling fast this morning?
Some high-profile names are seeing steep losses before the market opens. Here’s a look at the top pre-market losers:
| Ticker | Name | Price Move |
| VERA | Vera Therapeutics | –31% (to ~$21) |
| LULU | Lululemon Athletica | –21% (to ~$264) |
| DOCU | DocuSign Inc. | –19% (to ~$75) |
Lululemon is sliding after a mixed earnings report, while biotech names are reacting sharply to clinical updates and analyst downgrades.
Recap from Thursday’s session (June 5, 2025)
Top Gainers:
- Dollar Tree: +9.1%
- Norwegian Cruise Line: +5.2%
- Tractor Supply Co.: +3.3%
- Micron Technology: +3.0%
- Airbnb: +2.8%
Top Losers:
- Costco: –3.9%
- Constellation Brands: –3.6%
- Wynn Resorts: –3.4%
- Bio-Techne: –3.1%
- Eastman Chemical: –3.1%
Most of the market pulled back on Thursday, with the S&P 500 falling 0.5%, the Dow down 0.3%, and the Nasdaq losing 0.8%.
What’s driving the market today?
- Trump–Musk détente: A recent easing in tensions between former President Trump and Elon Musk helped boost sentiment, particularly around Tesla.
- Jobs report ahead: All eyes are on the U.S. non-farm payrolls for May, which could influence expectations for Fed rate cuts. A weaker number might boost markets by increasing the odds of a rate cut in September.
Why did the Trump-Musk feud shake investor confidence this week?
The sudden breakdown in relations between President Trump and Elon Musk caught markets off guard. The clash had wide-reaching implications, especially since Musk’s companies—Tesla and SpaceX—are closely tied to federal contracts and space missions.
Earlier this week, Musk called for Trump’s impeachment during a tech summit, accusing the President of misusing trade powers and undermining innovation. In response, Trump publicly threatened to cut off Tesla’s access to critical government subsidies and contracts, including its lucrative collaboration with NASA’s Dragon spacecraft program.
The feud sent shockwaves through the tech and aerospace sectors. But by Friday, a potential peace move emerged: the White House confirmed a scheduled “peace call” between Trump and Musk. Meanwhile, Musk has backed off his threat to pull out of NASA’s mission support, which played a key role in calming investors.
How is Tesla stock reacting to signs of peace?
Tesla (TSLA) shares, which took a steep hit Thursday, rebounded sharply in Friday’s pre-market session, jumping over 4%.
The quick turnaround reflects how much the market had priced in risk from the Trump-Musk standoff. Investors were worried that losing federal contracts could cost Tesla billions and damage its long-term growth outlook. Friday’s détente talk has temporarily relieved those concerns.
What’s the latest on the May jobs report and why does it matter now?
All eyes are now on the May jobs report, set for release at 8:30 a.m. ET Friday. Economists are expecting the data to show a 125,000 increase in nonfarm payrolls, pointing to a slowdown in hiring. The unemployment rate is projected to hold steady at 4.2%.
This report is especially critical as recent economic data shows signs of a slowdown. Some analysts have warned of “paralysis” in consumer spending and hiring, even as inflation pressures cool. If the jobs numbers come in weaker than expected, it could raise fresh concerns about the strength of the recovery.
Could this market bounce last, or is it just a short-term relief?
While futures are up this morning, many traders remain cautious. The Trump-Musk clash has highlighted how quickly political risk can rattle markets.
Even with signs of reconciliation, the underlying issues remain unresolved. Musk continues to push back against Trump’s tariff policies, and Trump still has the power to disrupt business through regulation or executive order. Any breakdown in the tentative truce could reignite volatility.
Additionally, the broader market is still grappling with uncertainty over inflation, Fed policy, and the global economic outlook. The jobs report later today could help determine whether Friday’s early gains are sustainable—or just a temporary blip.
What should investors watch for next in the stock market?
As the dust settles from this week’s turmoil, investors should keep an eye on a few key developments:
- Results from the May jobs report at 8:30 a.m. ET
- Updates from the Trump-Musk call scheduled later today
- Market reaction to any further statements from the White House or Musk
- Broader economic data and Fed commentary over the next few days
With markets on edge, even small developments could have big ripple effects. Traders will be watching closely to see if Friday’s recovery holds—or if another headline sends stocks into reverse.
US stock market futures are pointing higher today as the feud between Trump and Musk shows signs of cooling. But with the jobs report just hours away and uncertainty still in the air, it’s too early to say whether the worst is over. Investors are hoping for calm, but staying braced for more twists.
FAQs:
Q1: Why is the stock market today going up?
Because Trump and Musk may be ending their feud, and investors feel more hopeful.
Q2: What time does the US jobs report come out today?
The jobs report will be released at 8:30 a.m. ET.
