{"id":49637,"date":"2025-06-05T15:02:05","date_gmt":"2025-06-05T19:02:05","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/stock-market-today-markets-wobble-as-trump-musk-feud-rattles-investors-lululemon-broadcom-earnings-on-deck\/49637\/"},"modified":"2025-06-05T15:02:05","modified_gmt":"2025-06-05T19:02:05","slug":"stock-market-today-markets-wobble-as-trump-musk-feud-rattles-investors-lululemon-broadcom-earnings-on-deck","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-markets-wobble-as-trump-musk-feud-rattles-investors-lululemon-broadcom-earnings-on-deck\/49637\/","title":{"rendered":"Stock Market Today: Markets Wobble as Trump-Musk Feud Rattles Investors; Lululemon, Broadcom Earnings on Deck"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-markets-wobble-as-trump-musk-feud-rattles-investors-lululemon-broadcom-earnings-on-deck\/49637\/#Major_Indexes_Close_Mixed_After_Trump-Xi_Call_Fails_to_Calm_Trade_Tensions\" >Major Indexes Close Mixed After Trump-Xi Call Fails to Calm Trade Tensions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-markets-wobble-as-trump-musk-feud-rattles-investors-lululemon-broadcom-earnings-on-deck\/49637\/#Tesla_Shares_Plunge_as_Musk-Trump_Relationship_Sours\" >Tesla Shares Plunge as Musk-Trump Relationship Sours<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-markets-wobble-as-trump-musk-feud-rattles-investors-lululemon-broadcom-earnings-on-deck\/49637\/#Economic_Data_Raises_Concerns_About_Labor_Market\" >Economic Data Raises Concerns About Labor Market<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-markets-wobble-as-trump-musk-feud-rattles-investors-lululemon-broadcom-earnings-on-deck\/49637\/#Notable_Stock_Movers\" >Notable Stock Movers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-markets-wobble-as-trump-musk-feud-rattles-investors-lululemon-broadcom-earnings-on-deck\/49637\/#Key_Earnings_Reports_After_the_Close\" >Key Earnings Reports After the Close<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-markets-wobble-as-trump-musk-feud-rattles-investors-lululemon-broadcom-earnings-on-deck\/49637\/#Looking_Ahead_Market_Events_to_Watch\" >Looking Ahead: Market Events to Watch<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Major_Indexes_Close_Mixed_After_Trump-Xi_Call_Fails_to_Calm_Trade_Tensions\"><\/span>Major Indexes Close Mixed After Trump-Xi Call Fails to Calm Trade Tensions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>U.S. stocks seesawed in choppy trading on Thursday, June 5, 2025, as investors digested news of a phone call between President Trump and Chinese President Xi Jinping while also reacting to an escalating public feud between Tesla CEO Elon Musk and President Trump.<\/p>\n<p>At the closing bell, the major indexes finished mixed. The <a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> edged down 0.02% to 5,969.36, while the <a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average gained 0.15% to 42,492.43. The tech-heavy Nasdaq Composite slipped 0.07% to 19,446.42.<cscitation citation_id=\"task_1__1\"><\/cscitation><\/p>\n<p>The day&#8217;s trading was marked by initial optimism following news of the Trump-Xi phone call, which investors hoped would ease ongoing U.S.-China trade tensions. However, gains were quickly erased as details of the conversation failed to provide clarity on the next steps in trade negotiations.<cscitation citation_id=\"task_1__1\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tesla_Shares_Plunge_as_Musk-Trump_Relationship_Sours\"><\/span>Tesla Shares Plunge as Musk-Trump Relationship Sours<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The most dramatic market story of the day was Tesla (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TSLA\">TSLA<\/a>), whose shares plummeted nearly 9% to $302.40 amid an increasingly bitter public dispute between CEO Elon Musk and President Donald Trump.<cscitation citation_id=\"task_1__2\"><\/cscitation><\/p>\n<p>The feud erupted after Musk criticized Trump&#8217;s tax-cut bill, describing it as a &#8220;disgusting abomination&#8221; on his social media platform X. Musk&#8217;s criticism appears to stem from the bill&#8217;s removal of tax incentives for electric vehicle purchases and a proposed new annual $250 fee on EV drivers.<cscitation citation_id=\"task_3__1\"><\/cscitation><\/p>\n<p>Trump responded from the Oval Office, saying, &#8220;Elon and I had a great relationship. I don&#8217;t know if we will anymore,&#8221; and later suggested on Truth Social that the government should &#8220;terminate&#8221; Musk&#8217;s federal subsidies and contracts.<cscitation citation_id=\"task_3__1\"><\/cscitation><\/p>\n<p>The public spat has rattled investors, with Tesla shares now down 22% year-to-date. The dispute comes just days after Musk concluded his role as head of Trump&#8217;s Department of Government Efficiency (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=DOGE\">DOGE<\/a>).<cscitation citation_id=\"task_3__3\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Economic_Data_Raises_Concerns_About_Labor_Market\"><\/span>Economic Data Raises Concerns About Labor Market<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Thursday&#8217;s market action was also influenced by disappointing economic data. The Department of Labor reported that jobless claims reached their highest point in eight months, raising fresh concerns about the health of the U.S. labor market.<cscitation citation_id=\"task_1__1\"><\/cscitation><\/p>\n<p>Private sector payrolls increased by just 37,000 in May, significantly below the Dow Jones forecast of 110,000, further stoking investor worries about a softening job market and its potential impact on the broader economy.<cscitation citation_id=\"task_1__3\"><\/cscitation><\/p>\n<p>Investors are now anxiously awaiting Friday&#8217;s comprehensive jobs report, which will provide a more complete picture of the employment situation.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Notable_Stock_Movers\"><\/span>Notable Stock Movers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Beyond Tesla, several stocks made significant moves on Thursday:<\/p>\n<p>&#8211; Brown-Forman (BF-A, BF-B) shares plunged over 16% after the spirits maker reported disappointing quarterly results.<cscitation citation_id=\"task_2__2\"><\/cscitation><br \/>&#8211; PVH Corp (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=PVH\">PVH<\/a>) tumbled nearly 17% after the owner of Calvin Klein and Michael Kors cut its full-year outlook due to tariff pressures.<cscitation citation_id=\"task_2__2\"><\/cscitation><br \/>&#8211; Ciena Corporation (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=CIEN\">CIEN<\/a>) dropped 13.4% following its earnings report.<cscitation citation_id=\"task_2__2\"><\/cscitation><br \/>&#8211; MongoDB (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MDB\">MDB<\/a>) surged 13.4%, making it one of the day&#8217;s <a href=\"https:\/\/stockmarketwatch.com\/movers\/today\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Top Stocks\">top gainers<\/a>.<cscitation citation_id=\"task_1__2\"><\/cscitation><br \/>&#8211; Newegg Commerce (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NEGG\">NEGG<\/a>) soared 59.24%, leading the day&#8217;s percentage gainers.<cscitation citation_id=\"task_1__2\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Earnings_Reports_After_the_Close\"><\/span>Key Earnings Reports After the Close<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors are closely watching several high-profile earnings reports scheduled for release after today&#8217;s market close:<\/p>\n<p>&#8211; Broadcom (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AVGO\">AVGO<\/a>) is expected to report quarterly earnings of $1.57 per share on revenue of $14.97 billion. The chipmaker&#8217;s stock has been in focus amid ongoing AI-related demand for semiconductors.<cscitation citation_id=\"task_2__1\"><\/cscitation><br \/>&#8211; Lululemon Athletica (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=LULU\">LULU<\/a>) is projected to post earnings of $2.59 per share on revenue of $2.37 billion as the athleisure retailer continues to navigate changing consumer spending patterns.<cscitation citation_id=\"task_2__1\"><\/cscitation><br \/>&#8211; DocuSign (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=DOCU\">DOCU<\/a>) is anticipated to report quarterly earnings of $0.81 per share on revenue of $748.92 million.<cscitation citation_id=\"task_2__1\"><\/cscitation><br \/>&#8211; Other notable companies reporting after the bell include Samsara (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=IOT\">IOT<\/a>), Vail Resorts (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MTN\">MTN<\/a>), Braze (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=BRZE\">BRZE<\/a>), and Petco Health and Wellness (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=WOOF\">WOOF<\/a>).<cscitation citation_id=\"task_2__1\"><\/cscitation><\/p>\n<p>Options activity suggests traders are expecting significant post-earnings moves, with Broadcom implied to move \u00b16.99%, Lululemon \u00b19.45%, and DocuSign \u00b110.55% following their reports.<cscitation citation_id=\"task_2__3\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Looking_Ahead_Market_Events_to_Watch\"><\/span>Looking Ahead: Market Events to Watch<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As investors look to Friday and beyond, several key events and data points will likely drive market sentiment:<\/p>\n<p>&#8211; Friday&#8217;s comprehensive jobs report will be the main economic event of the week, with investors seeking clarity on the labor market&#8217;s health.<br \/>&#8211; Ongoing developments in U.S.-China trade relations following the Trump-Xi phone call.<br \/>&#8211; The continuing fallout from the Trump-Musk dispute and its potential impact on Tesla and other Musk-led companies.<br \/>&#8211; Market reaction to tonight&#8217;s earnings reports, particularly from tech heavyweight Broadcom and consumer bellwether Lululemon.<\/p>\n<p><b>The market&#8217;s recent gains \u2014 powered largely by surging technology stocks and strong first-quarter earnings \u2014 have revived sentiment on Wall Street. However, investors remain cautious about potential headwinds, including the impact of Trump administration tariffs, which analysts suggest could hurt corporate profits in the coming quarters.<\/b><cscitation citation_id=\"task_1__3\"><\/cscitation><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major Indexes Close Mixed After Trump-Xi Call Fails to Calm Trade Tensions U.S. stocks seesawed in choppy trading on Thursday, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[94],"tags":[4128,4,4156,4322,287,4361,473,1487,1601,2087,2919,3701,3928],"class_list":["post-49637","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-update","tag-doge","tag-tsla","tag-brze","tag-iot","tag-mtn","tag-negg","tag-woof","tag-lulu","tag-cien","tag-pvh","tag-avgo","tag-mdb","tag-docu"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/49637","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=49637"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/49637\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=49637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=49637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=49637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}