Trump-Musk Feud Effect, S&P 6,000, Jobs Report Beats Expectations 6/6/25

Squawk on the Street

CNBC

Investing, Business, News

4.1 • 567 Ratings

🗓️ 6 June 2025

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Jim Cramer and David Faber explored the escalating feud between President Trump and Elon Musk: Developments sent shares of Tesla down 14-percent on Thursday. The anchors also discussed the S&P 500 surpassing the 6,000 mark for the first time since February, fueled by a stronger-than-expected May jobs report. Also in focus: Microsoft's record run, day two for stablecoin issuer Circle after it soared 168-percent in its public debut, Broadcom earnings reaction, Lululemon tumbles, Trump blasts Fed Chair Powell again for not cutting interest rates. Squawk on the Street Disclaimer

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0:00.0	Market moving insight and analysis.
0:02.1	Join Jim Kramer, David Faber, and me, Carl Kintanilla, on the opening bell hour of CNBC Squawk on the Street.
0:09.0	Good Friday morning. Welcome to Squawk on the Street.
0:11.1	I'm Carl Kintania with Jim Kramer, David Faber, Post 9 of the New York Stock Exchange.
0:14.8	Futures do spike on another solid jobs print.
0:17.5	139,000, slightly ahead of estimates, some negative revisions. Unemployment stays at
0:22.5	4-2 for the third consecutive month. VIX is near a four-month low. A roadmap begins with
0:28.8	the May job surprise. Hotter than expected, futures rally ahead of the open. Plus that Trump-musk
0:35.2	bromance breakup. And oh, what a breakup, the the world's wealthiest man of very public war boards on social media.
0:43.2	Tesla shares are looking to rebound after they had one of the worst days ever.
0:47.5	And, well, tech is the biggest winner on the S&P this week.
0:50.4	Microsoft, in fact, amongst the big names that are hitting all-time highs.
0:55.3	In fact, that is its first in nearly a year.
0:58.8	Let's begin with this feud between the president and Elon Musk.
1:01.9	Their differences over the Trump tax and spending cuts bill extending into those back-and-forth
1:06.1	posts on social media yesterday about other issues, too.
1:09.3	According to NBC News this morning, White House
1:11.2	Chief of Staff Susie Wiles says there are no plans for a call today between Trump and
1:15.6	Musk and that refutes a report by Politico, which says otherwise. ABC, John Carl, Jim, got him on
1:21.6	the phone. Trump said he's not interested at this time in talking to Musk. Well, look, I mean,
1:32.3	I think that we always speak in terms of cards because of the Zelenskyy craziness.
1:33.3	And I don't know.
	...

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