Dow, S&P 500, Nasdaq futures rise as Trump-Musk feud cools, with jobs report on deck

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US stock futures climbed on Friday amid signs of a potential truce in the acrimonious feud between President Trump and Elon Musk, with the crucial monthly US jobs report on deck. Dow Jones Industrial Average futures rose 0.3%, while those on the S&P 500 added 0.4%. Contracts on the tech-heavy Nasdaq 100 gained roughly 0.5%.

Markets shaken by the rapid escalation in Trump-Musk hostilities welcomed olive branches being offered by both sides on Friday. The White House has scheduled a peace call between the president and the Tesla CEO, while Musk has signaled he's open to making a move to cool tensions and backed off his threat to decommission the Dragon spacecraft used by NASA. Yahoo Finance reports.

🤖 Broadcom earnings top estimates: Analyst's take on the results: Broadcom reported second quarter adjusted earnings of $1.58 per share compared to the Bloomberg consensus estimate of $1.56.

Adjusted net revenue was $15.0 billion, which was about in line with expectations. The chip giant's outlook for revenue and AI semiconductor revenue was slightly better than expected. Yahoo Finance reports.

☯️ Lululemon shares tumble as yogawear firm warns tariffs will crimp profit: Lululemon Athletica's shares fell 21% in premarket trading on Friday, as the maker of high-end leggings warned that tariff-related costs and uneven demand in key markets of North America and China will dent its profits this year.

The Canadian firm, whose Align yoga pants sell for $128 apiece on its website, will raise prices "modestly" for a "small portion of the assortment" and ramp up discounts for the rest of the year, company executives said. Yahoo Finance reports.

🏕️ Winnebago says job cuts are coming. Why Trump’s tariffs can be blamed: Shares of Winnebago Industries were knocked down Thursday after the recreational-vehicle maker warned investors of a big profit miss, as an expected boost in retail sales following the presidential election hasn’t materialized.

In fact, demand has dropped off significantly since President Donald Trump’s “liberation day” tariff announcement. MarketWatch reports.

🧑‍💼 Investors are already looking to July's jobs report — or even August's: Friday’s jobs numbers will provide the latest glimpse of how a high-tariff regime and the uncertainty surrounding trade policies will influence unemployment figures. But like several other key indicators that look backward in time to help us steer through the present, it’s their future datasets that will reveal a fuller picture.

For the labor market, those numbers may not arrive until July or August — a time by which many investors hope a new tariff regime will already be established. A curious hallmark of this stutter-step trade policy shift, with its dealmaking and delays, is that the effects of a "Liberation Day" initiated this spring won’t be meaningfully felt until deep into summer, or perhaps longer, no matter how Friday's data stacks up. Yahoo Finance reports.

🛒 Walmart plans to expand drone deliveries to three more states: Walmart is bringing drone deliveries to three more states. The big-box retailer has said it plans to launch the speedier delivery option at 100 stores in Atlanta, Charlotte, Houston, Orlando and Tampa within the coming year. With the expansion, Walmart’s drone deliveries will be available in a total of five states: Arkansas, Florida, Georgia, North Carolina and Texas.

Customers will request a delivery through the app of Wing, the operator who flies the drones through a deal with Walmart. The drone operator will have an up to a six-mile range from stores. CNBC reports.

✂️ Corporate layoffs have ramped up in recent weeks. Here are the companies making cuts: While the government cost-cutting initiative known as the Department of Government Efficiency, which resulted in thousands of federal job cuts, winds down, mass layoffs are still roiling corporate America. Companies are under increasing pressure to trim costs against the backdrop of global economic uncertainty brought on by President Donald Trump’s tariff policies. Several companies have announced price hikes. Layoffs mark another way to pull back.

Trade tensions have also raised concerns about the general health of the U.S. economy and the job market. While the April jobs reading was better than expected, a separate reading from ADP this week showed private-sector hiring hit its lowest level in more than two years. CNBC reports.

🧑‍🌾 EU open to lowering tariffs on US fertilisers in trade talks: The European Union is open to lowering tariffs on U.S. fertiliser imports as an offer in trade talks with the Trump administration, but will not weaken its food safety standards in pursuit of a deal, EU agriculture commissioner Christophe Hansen told Reuters. "That is definitely an option," Hansen said, of reducing U.S. fertiliser tariffs.

"That will be on the table. And I think that would be a huge way forward, and an offer as well to the U.S.," he said in an interview with Reuters on Thursday, adding that whether that would mean zero tariffs, or a reduction of current rates, would need to be negotiated. U.S. exports face the EU's standard tariffs of 5.5% on imports of ammonia, and 6.5% on nitrogen fertilisers, as well as an extra 29.48 euro-per-tonne anti-dumping duty on U.S. urea ammonium nitrate. Yahoo Finance reports.

🛢️ Demand for US light sweet crude drops as OPEC+ ramps up output: Rising OPEC+ supplies and new streams of oil coming online globally are increasing options for European and Asian refiners and weighing on export demand for light sweet U.S. crude, contributing to lower prices in the country's main oil-producing regions.

The U.S., the world's largest crude producer, is facing increasing competition as the Organization of the Petroleum Exporting Countries and its allies pump more oil in a bid to regain market share and punish members that over-produce. Since April, OPEC+ countries including Saudi Arabia and Russia have made or announced increases totaling 1.37 million barrels per day, or 62% of the 2.2 million bpd they aim to add back to the market. Yahoo Finance reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1) $BJDX: Bluejay Diagnostics

Total gain: +77.63%

2) $EYEN: Eyenovia

Total gain: +39.17%

3) $HSDT: Helius Medical Tech

Total gain: +26.31%

4) $IMNN: Imunon

Total gain: +22.50%

5) $TGE: The Generation Essentials

Total gain: +20.51

The closing price of the top three market percent gainers trading near or above $3 on June 5.
Benzinga reports.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1) $MODV: ModivCare

Total gain: +75.75%

The company proudly recognizes DAB Transport's outstanding commitment to serving central Georgia with compassion and flexibility. Benzinga reports.

2) $EYEN: Eyenovia

Total gain: +51.92%

The stock appeared to be moving on no notable news.

3) $PL: Planet Labs

Total gain: +49.74%

The company announced financial results for the period ended April 30, 2025, delivering record Q1 revenue of $66.3 million, up 10% year-over-year. Remaining performance obligations increased 262% year-over-year to $451.9 million, while backlog rose 140% to $527.0 million. The company generated $17.3 million in net cash provided by operating activities and achieved its first-ever quarter of positive free cash flow, totaling $8.0 million. Benzinga reports.

*Estimate and Actual numbers represent Earnings Per Share in US Dollars

QSG: QuantaSing Group
3Q 2025

Before Market Open
Estimate: 0.180
Actual: 0.090

FCEL: FuelCell Energy
2Q 2025

Before Market Open
Estimate: -1.380
Actual: N/A

GIII: G-III Apparel Group
1Q 2026

Before Market Open
Estimate: 0.130
Actual: N/A

Time (ET) / Report / Period

8:30 AM - U.S. employment report - May

8:30 AM - U.S. unemployment rate - May

8:30 AM - U.S. hourly wages - May

“You have to keep your money in the market. It’s the only way you’re going to make money.”

- Jim Cramer

Sourced in: “Mad Money: Watch TV, Get Rich”, by Jim Cramer, published in 2005