Futures Rise as Trump-Musk Tensions Ease Ahead of Jobs Report

• U.S. stock futures rose, with Dow Jones Industrial Average futures up 110 points (0.26%) to 42,479.00, S&P 500 futures up 21.50 points (0.36%) to 5,967.50, and Nasdaq 100 futures up 87 points (0.40%) to 21,669.00, driven by signs of a potential truce between President Trump and Tesla CEO Elon Musk.
• Tesla shares (TSLA) rebounded nearly 5% to $298.07 in pre-market trading after a 14.26% drop, as Musk signaled de-escalation by retracting threats to decommission NASA’s Dragon spacecraft.
• The May U.S. jobs report, expected to show 125,000 new nonfarm payrolls with unemployment steady at 4.2%, is poised to influence market sentiment amid signs of economic slowdown.

U.S. stock futures advanced on Friday as markets reacted to tentative signs of reconciliation between President Donald Trump and Tesla Inc. (TSLA) CEO Elon Musk, whose public feud had rattled investors. The potential détente comes as the market braces for the critical May U.S. jobs report, which could shape expectations for economic resilience amid ongoing uncertainties. Dow Jones Industrial Average futures climbed 110 points, or 0.26%, to 42,479.00, while S&P 500 futures gained 21.50 points, or 0.36%, to 5,967.50. Nasdaq 100 futures, reflecting tech-sector momentum, rose 87 points, or 0.40%, to 21,669.00.

The de-escalation of tensions between Trump and Musk provided a stabilizing signal for markets unsettled by their recent clash. Tesla shares, which had plummeted 14.26% on Thursday amid the escalating rhetoric, rebounded nearly 5% to $298.07 in pre-market trading. The feud, marked by Musk’s call for Trump’s impeachment and Trump’s threats to sever government contracts vital to Musk’s enterprises, had amplified market volatility. A Politico report suggested Trump had scheduled a call with Musk to broker a truce, though Trump’s Chief of Staff, Susie Wiles, told NBC News there were “no plans” for such a conversation. Despite the contradiction, Musk’s decision to retract his threat to decommission NASA’s Dragon spacecraft signaled a willingness to ease hostilities. Wedbush Securities analyst Dan Ives noted, “Musk needs Trump and Trump needs Musk for many reasons and these two becoming friends again will be a huge relief for Tesla shares,” adding that Tesla’s stock appeared “way oversold” on the news.

Beyond the Trump-Musk saga, broader market dynamics reflected cautious optimism. Investors, already navigating uncertainties around Trump’s tariff policies, have been encouraged by signs that these measures might be moderated. However, the upcoming May jobs report, due at 8:30 a.m. ET, looms large. Economists anticipate nonfarm payrolls increased by 125,000, with the unemployment rate steady at 4.2%. Recent data hinting at economic stagnation has heightened scrutiny of the report, as a slowdown in hiring could signal shifting economic tides. The VIX, a gauge of market volatility, eased 0.24, or 1.30%, to 18.24, suggesting a slight calming of investor nerves.

In commodities, gold prices rose $9.60, or 0.28%, to $3,384.70 per ounce, reflecting its appeal as a safe-haven asset amid lingering uncertainties. Crude oil prices dipped slightly, down $0.08, or 0.13%, to $63.29 per barrel, as demand concerns persisted. Treasury yields also edged lower, with the 30-year yield falling 0.06% to 4.8840, signaling muted expectations for immediate inflationary pressures.

The interplay of geopolitical developments and economic data underscores the delicate balance markets are navigating. The potential reconciliation between Trump and Musk, if realized, could bolster confidence in Tesla and the broader tech sector, while the jobs report will provide critical insight into the U.S. economy’s trajectory. Investors remain on edge, with the outcome of these events likely to dictate near-term market sentiment.

WallStreetPit does not provide investment advice. All rights reserved.

• Bulenox: Get 83% OFF ... Use Discount Code: JJT3A
• Risk Our Money Not Yours | Get 50% to 90% OFF ... Use Discount Code: MMBVBKSM