CNBC Business News Update - Market Midday: Stocks Higher, Job Report Better Than Expected, Tesla Shares Higher After Selloff 6/6/25

Episode Date: June 6, 2025

From Wall Street to Main Street, the latest on the markets and what it means for your money. Updated regularly on weekdays, featuring CNBC expert analysis and sound from top business newsmakers. Anchored by CNBC's Jessica Ettinger.

I'm Jessica Evinger CNBC Wall Street higher this afternoon but off its earlier highs after more jobs were created last month than expected. The Dow up 381 points nine tenths of a percent being led higher by shares of Chevron which are up a little more than 2 percent this afternoon. The S&P 500 index today touched 6,000 for the first time since the end of February. It has retreated a little. It is up 58 points, almost 1%. The NASDAQ now up 234 points, 1.25%. Nvidia shares are up more than 1.5% this afternoon. Companies whose shares have hit fresh all-time highs today include MasterCard, payroll company ADP, Paychex, another payroll company, and IBM,

which started trading in 1962, hitting an all-time high today. The unemployment rate for May held steady at 4.2 percent, with slightly more jobs created than expected. 139,000 jobs created for the month of May. A smidge higher than we were expecting. And in the rear view mirror, well, there are some revisions. We lose 95,000 over the last two months. That's CNBC's Rick Santelli. Now we seem to be settling down

rate here on jobs still a who are coming into the w why you have your steady CNBC senior economics rep there. Now here's new ve CNBC. Healthcare jobs com been a big leader for thi Every month we've seen ab

created by the healthcare is an a cyclical industry impacted by tariffs. So t should be a driver of the forward. And this from fo official Katie Richards o important risk to the ec attention to is what's going on in Congress.

So I think we're absolutely right to look at the jobs report and see the strength in the healthcare sector. Currently Republicans in Congress are trying to take millions of people's healthcare away. That's going to be a real problem if that bill passes. Investors are bracing for anything more on the feud between the world's richest man and the world's most powerful man. Tesla shares yesterday tanked 14% during the social media post fight between the CEO of Tesla, Elon Musk and President Trump. Shares were rebounding today for Tesla. A take on the fight from CNBC MedMoney host Jim Cramer and anchors David Faber and Carl Quintanilla. White House Chief of Staff Suzy Wiles says there are no plans for a call today between Trump and Musk and that refutes a report by Politico which

says otherwise ABC John Carl Jim got him on the phone Trump said he's not interested at this time and talking to Musk. Musk has a lot of money but I do think the president is the cards David you studied Musk a lot of money, but I do think the president has the cards. David, you studied Musk. A lot of what Musk does is offer a superior product to governments worldwide. But a superior product doesn't necessarily win if you don't want it to. You can put your finger on the scale. It's way at risk here, dealing with a president who is not necessarily kind of has a very close relationship with the justice department. And not to mention is quite vindictive when it comes to his enemies certainly or perceived

enemies. New in theaters, IFC's Dangerous Animals, XYZ's horror film The Ritual, Lionsgate's John Wick, Ballerina, Jessica Ettinger's CNBC. The CNBC Disruptor 50 List revealed. Special coverage begins June 10th in Squawk Box and streaming on CNBC Plus.