Wall Street rallies as strong jobs data lifts sentiment; S&P 500 reclaims 6,000

U.S. stocks opened sharply higher on June 6 after a stronger-than-expected May jobs report eased concerns of an imminent economic slowdown and supported risk appetite. The Dow Jones Industrial Average surged over 500 points, or 1.2 percent, while the S&P 500 touched the 6,000 mark, gaining 1.2 percent. The Nasdaq Composite rose 1.4 percent, led by a rebound in tech shares.

U.S. non-farm payrolls rose by 139,000 in May, beating the Dow Jones estimate of 125,000, though slightly below April’s revised figure. The unemployment rate held steady at 4.2 percent, indicating continued resilience in the labor market despite signs of broader economic moderation.

Tesla, which had plunged 14 percent on Thursday following CEO Elon Musk’s feud with President Trump, rallied more than 3 percent, contributing to the broader market momentum. Tech giants, including Nvidia, Meta, and Apple, also posted gains in early trade.

Market participants see the latest data as reducing urgency for immediate Fed rate cuts, with traders still pricing in easing later in the year. Eyes now turn to the Fed’s June 17-18 policy meeting.

Healthcare and leisure sectors drove job growth, while manufacturing and a few other categories posted modest declines.

The major indices are now on track for strong weekly gains, with the S&P 500 and Nasdaq up over 2 percent so far.