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The S&P 500 index is trading back above the psychologically 6,000 level, buoyed by a better-than-expected jobs report. The U.S. economy added a robust 139,000 payrolls last month, surpassing economist forecasts of 125,000. The unemployment rate held steady at 4.2%, precisely as anticipated. Wall Street enthusiastically embraced the May jobs report, providing a welcome distraction from ongoing trade uncertainties and igniting a market rally. All sectors of the economy are seeing green, sending the SPDR S&P 500 ETF (SPY) up by 1.1%.
While Tesla (Nasdaq: TSLA) is enjoying today’s rally with a 4.8% gain, the stock has shed 20% of its value over the past five trading sessions, largely due to Elon Musk’s continued political commentary. Meanwhile, Apple (Nasdaq: AAPL) WWDC 2025 is right around the corner, with all eyes on AI-related announcements.
Here’s a look at the performance as of mid-morning trading:
Dow Jones Industrial Average: Up 511.31 (+1.2%)
Nasdaq Composite: Up 241.17 (+1.2%)
S&P 500: Up 64.67 (+1.1%)
Market Movers
Not all tech stocks are participating in today’s climb. Broadcom (Nasdaq: AVGO) is down 2.5% following its recent quarterly earnings report. Despite the dip, analyst firm Erste Group remains bullish, upgrading AVGO shares to “buy” from “hold.”
JPMorgan has upgraded discount retailer Dollar Tree (NYSE: DLTR) to an “overweight” rating from “neutral,” while simultaneously boosting its price target by a remarkable 44% to $111 per share.
Monness Crespi analysts are turning more bullish on MongoDB (Nasdaq: MDB), raising their rating to “buy” from “neutral” with a $295 price target after the company reported stronger-than-anticipated earnings.
Walmart (NYSE: WMT) announced it is expanding its drone delivery service to a trio of more states.
Lululemon (NYSE: LULU) is plummeting by 19% today on the heels of its earnings report.
Docusign (Nasdaq: DOCU) is falling 18.9% after reporting its quarterly results.
Circle Internet (NYSE: CRCL) is gaining 23.1% on its stock market debut.
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