The US labor market is creating new jobs, but maybe not yours

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Your own job is a binary event — you either have one or you don't. Labor market data so closely tracked by investors offers a different story about US employment, one told in the aggregate. And reconciling the two right now has made discussion about the overall state of the US job market particularly rich.

In May, the US economy added 139,000 new jobs while the unemployment rate held steady at 4.2%. Data on job openings posted last week showed a surprise increase in April, though hiring demand continues to cool from post-pandemic highs. That's at least according to the US government. Data from payroll processor ADP published last week, however, suggested there were only 37,000 roles added to the private sector, the fewest since March 2023. For recent college grads and others at the entry level of the workforce, the job market hasn't been this challenging in years. Yahoo Finance reports.

🤖 Microsoft-backed AI lab Mistral is launching its first reasoning model in challenge to OpenAI: French artificial intelligence firm Mistral is on Tuesday launching its first reasoning model to compete with rival options from the likes of OpenAI and China’s DeepSeek. “We’re announcing in a couple of hours our new reasoning model, which is very much competitive with all the others and has the specificity of being able to reason in multiple languages,” CEO Arthur Mensch told CNBC’s Arjun Kharpal onstage during a fireside chat at London Tech Week.

Reasoning models are systems that can execute more complicated tasks through a step-by-step logical thought process. Mistral’s new model “is great at mathematics [and] great at coding,” according to Mensch. CNBC reports.

🚗 Trump is open to speaking with Musk, won’t sell his red Tesla: The bromance may be over, but the president and Tesla CEO Elon Musk keep showing signs of backing off from last week’s very public feud. On Monday, Trump said “I’d have no problem with it,” when asked if he would be willing to speak with Musk. “I’d imagine he wants to speak with me.” Trump also said that he wasn’t going to sell the red Tesla he bought in March, when the two men were on better terms.

On Friday, a senior White House official said that he was considering getting rid of the Model S Plaid. “We may move the Tesla around a little bit,” Trump said Monday, without specifying where he might park it. The electric vehicle has been parked outside the White House ever since he bought it. MarketWatch reports.

🚕 Self-driving cars are coming to London as Uber announces pilot program: Uber on Tuesday said it was launching a self-driving pilot in London, which it said was the largest market it’s targeted.

Uber said it was partnering with the privately held Wayve for the trial. Uber said London and other U.K. cities represent a complex driving environment, with “significantly different road layouts and traffic laws compared to locations in the U.S., where a majority of global [Level 4] testing has until now been conducted.” MarketWatch reports.

🏦 Treasury yields slip as U.S.-China trade talks enter Day 2: Treasury yields slipped Tuesday as U.S. and Chinese officials resumed trade negotiations in London for the second day. The 10-year Treasury yield was down almost 3 basis points to 4.456% at 3.30 a.m. ET. The 2-year yield slipped around one basis point to 3.993%. The 30-year yield was lower by 3 basis points to 4.921%.

One basis point equals 0.01%. Yields and prices move inversely in the bond market. CNBC reports.

📊 Wary Wall Street positioning leaves room for S&P 500 to rally: Analysts at firms including Barclays Plc and JPMorgan Chase & Co. see further upside for US stocks, in part because they expect institutional investors to abandon their cautious stance and ramp up exposure to equities.

While stocks have roared back from their tariff-fueled April slide, big money managers remain remarkably underweight: Their overall equity positioning has been lower only 23% of the time since 2010, according to Deutsche Bank AG. President Donald Trump’s ever-changing trade policies have led them to show restraint, even as bullish retail investors have helped to push the S&P 500 Index back toward a record high. That positioning reflects tentative sentiment on the part of institutional asset managers, but it gives them room to boost their allocations as they seek to keep up with the market. Yahoo Finance reports.

🎥 Netflix to invest over $1.14 billion in Spain until 2029: Netflix is set to invest over 1 billion euros ($1.14 billion) to produce content in Spain over the next four years, the streaming giant's co-CEO, Ted Sarandos, told an event in Madrid on Tuesday. Reuters reports.

🛍️ US small business sentiment improves in May, but uncertainty rising: U.S. small-business confidence improved in May, likely because of a de-escalation in trade tensions between Washington and China, though uncertainty over the outlook mounted amid worries over the fate of President Donald Trump's tax-cut agenda.

The National Federation of Independent Business said on Tuesday its Small Business Optimism Index increased three points to 98.8 last month, rising for the first time since December. Reuters 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) $MEGL: Magic Empire Global

Total gain: +173.20%

2) $MRIN: Marin Software

Total gain: +76.47%

3) $KLTO: Klotho Neurosciences

Total gain: +46.70%

4) $YSXT: YSX Tech

Total gain: +29.09%

5) $RFL: Rafael Holdings

Total gain: +18.22%

The closing price of the top three market percent gainers trading near or above $3 on June 9.
Benzinga reports.

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

1) $OMH: Ohmyhome

Total gain: +300.99%

The stock appeared to be moving on no notable news.

2) $KNW: Know Labs

Total gain: +98.71%

The stock appeared to be moving on no notable news.

3) $KWM: K Wave Media

Total gain: +60%

The stock appeared to be moving on no notable news.

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


GME: GameStop
1Q 2025

After Market Close
Estimate: 0.040
Actual: N/A

GTLB: GitLab
1Q 2026

After Market Close
Estimate: 0.150
Actual: N/A

PETS: PetMed Express
4Q 2025

After Market Close
Estimate: -0.060
Actual: N/A

"Buy good companies at bargain prices—this is the secret to making lots of money in the stock market."

- Joel Greenblatt

Sourced in: “The Little Book That Beats the Market”, by Joel Greenblatt, published in 2005