The breakup

Wall Street reacts as Trump-Musk feud rages, Trump and Xi hold call, Circle triples in public market debut, Lululemon dives 23%, and Tesla plunges most in four years as conflict with Trump erupts...

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Market Briefing
June 06, 2025

Good morning.

The Fast Five → Wall Street reacts as Trump-Musk feud rages, Trump and Xi hold call, Circle triples in public market debut, Lululemon dives 23%, and Tesla plunges most in four years as conflict with Trump erupts…

📌 Nvidia's Jensen Huang said, "The ChatGPT moment for robotics is right around the corner." And one stock — currently priced around $7 — could be the biggest winner. See a live demonstration with one of these robots here. (ad)

Calendar: (all times ET) - Full Calendar

  • Today:
    Unemployment report, 8:30A

  • Monday:
    Wholesale inventories, 10:00A

Your 5-minute briefing for Friday, June 6:

BEFORE THE OPEN

As of market close 6/5/2025.

Pre-Market:

US Investor % Bullish Sentiment:
↓ 32.89% for Week of MAY 29 2025

Previous week: 37.70%. Updates every Friday.

Market Wrap:

  • Futures steady: S&P flat, Dow +39 pts (+0.1%), Nasdaq -0.1%

  • Thu close: S&P -0.5%, Nasdaq -0.8%, Dow -108 pts (-0.3%)

  • May jobs report due today; est. +125K, down from April

  • Recent data hints at slowing economy; Fed seen walking tightrope

  • Tesla -14% after Musk-Trump clash

  • Broadcom, Lululemon, Docusign drop post-earnings

EARNINGS

No earnings watched today. See full calendar here »

This Robot is Coming to 65 Million Americans … This Year—

Nvidia's robot breakthrough, unveiled by CEO Jensen Huang at CES, could spark a $24T revolution.

He said the "ChatGPT moment" for robotics is near.

I believe the lives of 65M Americans could be impacted – this year.

HEADLINES

For months, Tesla shareholders were tormented by Musk’s role in the Trump admin. But any relief brought by his government exit last week quickly turned to fear as Musk traded barbs with his former boss.

The phone call between the leaders marks their first known formal contact since Trump took office.

  • Wall Street stocks end down as Tesla slumps 14% on Trump-Musk feud (more)

  • Fed policymakers flag inflation concerns which argues against rate cuts (more)

  • Treasury rally stalls as ECB sparks euro-zone bond selloff (more)

  • Bipartisan House group urges Fed, OCC to revamp leverage rules (more)

  • For markets, end to ECB rate cuts just got closer (more)

  • Wall Street’s animal spirits start to stir — selectively (more)

  • Musk’s feud with Trump spurs one of his worst wealth losses ever (more)

  • Stablecoin issuer Circle triples in public market debut (more)

  • Lululemon plunges 23% as outlook misses Wall Street estimates (more)

  • MongoDB jumps 13% after company boosts guidance (more)

  • Procter & Gamble to cut 7,000 jobs as part of broader restructuring (more)

  • Lululemon shares tumble 23% as it cuts full-year earnings guidance (more)

  • Amazon to invest over $5 billion in new AWS region in Taiwan (more)

DEALFLOW

M+A | Investments

  • Kimberly-Clark sells majority stake in international tissue business to Suzano

  • CoinFlip explores sale amid cryptocurrency deal surge

  • Scytale, a trust and security compliance automation company, acquired AudITech

  • Payall Payment Systems receives investment from Ventura Capital

VC

  • Variational raises $1.5M in strategic funding and launches referral program

  • Neuralink, a brain-implant startup, raised $650M in Series E funding

  • Shield Technology Partners, a managed service provider platform, raised over $100M in initial funding

  • Allay Therapeutics, a clinical-stage biotech company, raised $57.5M in Series D financing and venture debt

  • Thread AI, an AI-powered platform for enterprises to build, connect, and manage workflows and agents, raised $20M in Series A funding

  • Signify Bio, a biotech company harnessing the human body for the production of in situ protein therapeutics, raised $15M in initial funding

  • Burstverse, an AI-driven DeFi platform, raised an undisclosed amount in Seed funding

  • Chckvet, a provider of integrated online communication and analytics software for veterinary clinics, raised an undisclosed amount in Pre-Seed funding

  • PopID, a platform that improves digital interactions and payments, raised an undisclosed amount in equity funding

CRYPTO

  • Circle founder is billionaire as crypto firm jumps after IPO (more)

  • Trump’s potential crypto conflicts may dictate industry’s future (more)

  • Bitcoin’s shrinking supply may trigger price breakout (more)

BULLISH BITES

🇨🇳 China's trade war gambit puts Trump on defense.

🤬 Let’s all do a dramatic reading of Trump and Musk’s mean posts.

📦 Walmart and Wing expand drone delivery to more cities.

✈️ The rise of the $500-a-night airport hotel.

DAILY SHARES

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