📰 Market Snapshot – Friday, June 6, 2025

Pre-Market Snapshot (as of 9:00 AM ET):

• S&P 500 Futures: up 0.39%

• 10-Year Treasury Yield: 4.386% (down from 4.42% on Thursday)

• Gold Futures: up 0.29%

U.S. stock futures are trading higher this morning, with S&P 500 futures up 0.39%. Bond markets show slight relief—10-year yields have dipped to 4.386%—and gold futures are up 0.29% as investors seek a safe-haven amid lingering uncertainty.

---

What’s Driving the Markets Today

1. May Jobs Report Incoming
   All eyes are on today’s nonfarm payrolls release (expected ~125,000 new jobs). A weaker print could reinforce calls for a Fed rate cut later this year; a stronger reading might push yields higher and pressure equities.

2. Tariff Headwinds Persist
   The 50% steel and aluminum tariffs, effective since last week, continue to weigh on industrial and auto names. Any fresh headlines from China or the EU could swing risk sentiment sharply.

3. Tech & Tesla Dynamics
   Tesla stock rebounded 5% in pre-market trading after a 14% drop earlier this week, as reports surfaced that White House aides are mediating the public feud between Elon Musk and President Trump. Broader tech earnings have been mixed; investors are rotating into AI-driven names with clear near-term catalysts.

4. Commodity Signals

   • Gold’s Modest Uptick: A 0.29% jump in gold futures underscores ongoing safe-haven demand despite equity strength.

   • Oil Stays Muted: Brent crude is roughly flat; energy stocks are treading water ahead of next week’s OPEC+ meeting, where production decisions could influence inflation expectations.

---

What to Watch Today

• Nonfarm Payrolls (8:30 AM ET): The headline jobs figure and average-hourly earnings will heavily influence Fed-rate expectations for the remainder of 2025.

• ISM Services PMI (10:00 AM ET): A reading above 50 would signal expansion in the services sector and could push bond yields higher.

• Fed Speeches: Any nuance from Fed Chair Powell or regional Fed presidents this afternoon could swiftly move both equity and bond markets.

---

Bottom Line

With S&P 500 futures up 0.39%, the 10-year yield at 4.386%, and gold futures up 0.29%, today’s open leans cautiously optimistic. However, the jobs report looms as the primary catalyst: a weaker-than-expected print may extend this week’s risk-on momentum, while stronger data could realign markets toward “higher for longer” rates. Keep positions flexible and monitor key releases closely.