Morning Brief anchors Madison Mills and Brad Smith break down the latest financial news for June 6, 2025. The jobs report for the month of May came out better than expected with US employers adding 139,000 jobs, while the report signaled a gradual moderation in the labor market.
U.S. equities were higher at midday when the Labor Department reported May job creation was better than anticipated. The Dow Jones Industrial Average, S&P 500, and Nasdaq all rose.
Donald Trump has said Elon Musk has "lost his mind", according to US media, as the White House reveals the president is not interested in speaking to him.
Investors were hopeful for signs that the two might reconcile after Tesla suffered its worst single-day drop in more than four years, though President Trump said Friday he has no interest in a call with CEO Elon Musk.
Tesla, Inc. CEO Elon Musk's recent actions have eroded the political goodwill Tesla may have been betting on, impacting the stock's outlook. On June 5th, a public spat on Musk's X platform between Musk and President Trump left investors scratching their heads. The anticipated catalyst for further TSLA gains has dissipated for now, raising concerns about near-term upside potential.
Tesla's fundamentals remain strong despite political drama; the recent dip is a buying opportunity for long-term investors. CEO Elon Musk's pivot away from President Trump could realign Tesla's brand with its original, liberal-leaning customer base, providing a positive catalyst. Political risks, including potential subsidy removal, are likely already priced in; product quality and innovation will drive long-term value.
Tesla's stock is driven by sentiment, which has soured greatly. Plus, Musk has now alienated Republicans and Democrats alike.
Elon Musk has never been shy about his disdain for big government. And yet, many of Musk's companies have thrived thanks to government subsidies, tax credits, and federal contracts.
Tesla, Inc.'s Q1 revenue fell 9% YoY to $21.3B, with operating income plunging 66% amid ASP pressure and factory upgrades. Energy and Services segments surged to 27% of total revenue, driven by 67% YoY growth in Energy Storage to $2.73B. Political backlash from Trump's threats exposed strategic risk across Musk's empire, triggering a 14% drop in the TSLA share price.
Donald Trump and Elon Musk have been exchanging increasingly heated comments at each other on social media after Musk called Trump's new tax bill a ‘disgusting abomination.
Cracks in the relationship between President Donald Trump and Tesla CEO Elon Musk, his self-proclaimed “first buddy,” are scaring Tesla shareholders as the two fired salvos at each other in increasingly heated rhetoric on Thursday.