{"id":49639,"date":"2025-06-05T17:02:10","date_gmt":"2025-06-05T21:02:10","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/stock-market-today-markets-wobble-as-trump-xi-call-and-tesla-drama-take-center-stage\/49639\/"},"modified":"2025-06-05T17:02:10","modified_gmt":"2025-06-05T21:02:10","slug":"stock-market-today-markets-wobble-as-trump-xi-call-and-tesla-drama-take-center-stage","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-markets-wobble-as-trump-xi-call-and-tesla-drama-take-center-stage\/49639\/","title":{"rendered":"Stock Market Today: Markets Wobble as Trump-Xi Call and Tesla Drama Take Center Stage"},"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-xi-call-and-tesla-drama-take-center-stage\/49639\/#Major_Indexes_Close_Mixed_Amid_Trade_Tensions_and_Economic_Data\" >Major Indexes Close Mixed Amid Trade Tensions and Economic Data<\/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-xi-call-and-tesla-drama-take-center-stage\/49639\/#Tesla_Shares_Tumble_Following_Trump-Musk_Feud\" >Tesla Shares Tumble Following Trump-Musk Feud<\/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-xi-call-and-tesla-drama-take-center-stage\/49639\/#After_Hours_Movers_and_Earnings_Reports\" >After Hours Movers and Earnings Reports<\/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-xi-call-and-tesla-drama-take-center-stage\/49639\/#Economic_Data_Points_to_Mixed_Signals\" >Economic Data Points to Mixed Signals<\/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-xi-call-and-tesla-drama-take-center-stage\/49639\/#Upcoming_Market_Events_to_Watch\" >Upcoming Market Events to Watch<\/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-xi-call-and-tesla-drama-take-center-stage\/49639\/#Corporate_Earnings_Calendar\" >Corporate Earnings Calendar<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-markets-wobble-as-trump-xi-call-and-tesla-drama-take-center-stage\/49639\/#Market_Outlook_and_Analyst_Perspectives\" >Market Outlook and Analyst Perspectives<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Major_Indexes_Close_Mixed_Amid_Trade_Tensions_and_Economic_Data\"><\/span>Major Indexes Close Mixed Amid Trade Tensions and Economic Data<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>U.S. stock markets closed with mixed results on Thursday, June 5, 2025, as investors processed news of a call between President Trump and Chinese President Xi Jinping, while also digesting fresh economic data and corporate developments. 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 close at 42,492.43, while 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. The tech-heavy Nasdaq Composite slipped 0.07% to 19,446.42.<cscitation citation_id=\"task_1__2\"><\/cscitation><\/p>\n<p>The markets zigzagged throughout the day following news that President Trump had spoken with Chinese President Xi Jinping about their ongoing trade standoff. Trump described the call as reaching a &#8220;very positive conclusion&#8221; and announced that Treasury Secretary Scott Bessent, U.S. Trade Representative Jamieson Greer, and Commerce Secretary Howard Lutnick would hold follow-up meetings with their Chinese counterparts.<cscitation citation_id=\"task_1__1\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tesla_Shares_Tumble_Following_Trump-Musk_Feud\"><\/span>Tesla Shares Tumble Following Trump-Musk Feud<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>One of the day&#8217;s biggest market movers was Tesla (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TSLA\">TSLA<\/a>), which saw its shares plummet 8.93% to $302.40 after a public spat erupted between CEO Elon Musk and President Trump. The feud centered around Musk&#8217;s criticism of Trump&#8217;s giant tax-and-spending bill currently making its way through Congress.<cscitation citation_id=\"task_1__2\"><\/cscitation> The sharp decline made Tesla one of the most active stocks of the day and contributed to downward pressure on the broader market indexes.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"After_Hours_Movers_and_Earnings_Reports\"><\/span>After Hours Movers and Earnings Reports<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In after-hours trading, several companies made significant moves following earnings releases. Broadcom (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AVGO\">AVGO<\/a>) was closely watched as the AI chip maker reported earnings after the closing bell. Other notable after-hours gainers included Liminatus Pharma (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=LIMN\">LIMN<\/a>), which jumped 12.96% to $26.50, and Circle Internet Group (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=CRCL\">CRCL<\/a>), which rose 9.46% to $84.16.<cscitation citation_id=\"task_2__2\"><\/cscitation><\/p>\n<p>Petco Health and Wellness Company (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=WOOF\">WOOF<\/a>) gained 1.69% in after-hours trading to $3.62 following its quarterly report. Samsara (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=IOT\">IOT<\/a>) also edged up 0.55% to $47.66 after hours.<cscitation citation_id=\"task_2__2\"><\/cscitation><\/p>\n<p>MongoDB (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MDB\">MDB<\/a>) was another standout performer, with shares popping nearly 12% after the database software maker beat expectations on both top and bottom lines and raised its fiscal 2026 outlook.<cscitation citation_id=\"task_2__3\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Economic_Data_Points_to_Mixed_Signals\"><\/span>Economic Data Points to Mixed Signals<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Thursday&#8217;s economic data painted a mixed picture of the U.S. economy. The trade deficit, a key issue for the Trump administration, fell to $61.6 billion in April, a steeper drop than economists had forecast. This followed a record high in March as businesses rushed to stockpile ahead of tariff implementations.<cscitation citation_id=\"task_1__1\"><\/cscitation><\/p>\n<p>However, initial jobless claims hit their highest level since October last week, according to the Labor Department&#8217;s report, raising concerns about softening in the labor market. This follows Wednesday&#8217;s private sector payrolls report that showed just 37,000 jobs added in May, well below the Dow Jones forecast of 110,000.<cscitation citation_id=\"task_1__3\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Upcoming_Market_Events_to_Watch\"><\/span>Upcoming Market Events to Watch<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors are now turning their attention to Friday&#8217;s crucial employment situation report, which will provide a more comprehensive view of the labor market. This report has taken on added significance following the weaker-than-expected private payrolls data earlier in the week.<cscitation citation_id=\"task_3__2\"><\/cscitation><\/p>\n<p>The Federal Reserve&#8217;s next policy meeting is scheduled for June 17-18, which will include a Summary of Economic Projections that could provide insights into the central bank&#8217;s thinking on interest rates for the remainder of 2025.<cscitation citation_id=\"task_3__1\"><\/cscitation> Currently, the federal funds effective rate stands at 4.33%, while the bank prime loan rate is at 7.50%.<cscitation citation_id=\"task_3__3\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Corporate_Earnings_Calendar\"><\/span>Corporate Earnings Calendar<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Friday will see the market digesting Thursday&#8217;s after-hours earnings reports, while looking ahead to next week&#8217;s slate of corporate results. Notable companies that reported earnings on Thursday included Brown Forman (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=BF\">BF<\/a>), which saw its Class B shares fall 17.22% to $27.51, making it one of the day&#8217;s biggest losers.<cscitation citation_id=\"task_1__2\"><\/cscitation><\/p>\n<p>Companies scheduled to report earnings in the coming days include Lululemon Athletica (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=LULU\">LULU<\/a>), DocuSign (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=DOCU\">DOCU<\/a>), and Vail Resorts (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MTN\">MTN<\/a>), which could provide further insights into consumer spending and business investment trends.<cscitation citation_id=\"task_2__1\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Outlook_and_Analyst_Perspectives\"><\/span>Market Outlook and Analyst Perspectives<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite recent volatility, the major U.S. indexes are tracking for gains this week. The S&#038;P 500 is up 1%, the Dow has added 0.4%, and the Nasdaq has jumped 1.8% week to date.<cscitation citation_id=\"task_1__3\"><\/cscitation><\/p>\n<p>However, analysts remain cautious about the impact of tariffs on corporate profits in the coming quarters. BlackRock CEO Larry Fink warned that &#8220;if the tariffs are instituted over the next five months, I think we&#8217;re going to see very elevated inflation.&#8221; Ed Yardeni of Yardeni Research noted, &#8220;The impact of tariffs is still going to be substantial in the second and maybe the third quarter as well.&#8221;<cscitation citation_id=\"task_1__1\"><\/cscitation><\/p>\n<p>As the earnings season nears its end, approximately 78% of S&#038;P 500 companies have reported higher-than-expected earnings, according to FactSet data. However, for the small proportion of companies that have provided guidance for the current quarter, weak outlooks outnumber strong ones, suggesting potential challenges ahead.<cscitation citation_id=\"task_1__1\"><\/cscitation><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major Indexes Close Mixed Amid Trade Tensions and Economic Data U.S. stock markets closed with mixed results on Thursday, June 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