Tesla Shares Sink

Trump and Elon feud | Trump talks to Xi | Circle IPO

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Welcome Back,

Market Headlines ๐Ÿ‘€ 

  • US President Trump and Elon Musk public spat grows as Elon says he is very disappointed with the spending bill and Trump questions how good their current relationship is.

  • ADP private sector jobs grew just 37k for the month of May, lowest in two years.

  • US and China leaders spoke today, Trump citing it was a good call with Xi.

  • US Weekly jobless claims rose to 247k, a seven month high.

  • European Central Bank (ECB) cut their fed funds rate for a eighth consective time.

  • Microsoft (MST) shares saw all time highs in the trading session today.

  • Circle (CRCL) stable coin crypto company IPO opens at more than double IPO price of $31.

  • Lululemon (LULU) shares sink after company cuts full year guidance.

Earnings ๐Ÿ’ธ

  • Broadcom (AVGO)

    • EPS: $1.58 beats (exp. $1.57)

    • Revenue: $15b beats (exp. $14.95b)

  • Docusign (DOCU)

    • EPS: $0.90 beats (exp. $0.81)

    • Revenue: $763.64m beats (exp. $748.92m)

  • Lululemon (LULU)

    • EPS: $2.60 beats (exp. $2.58)

    • Revenue: $2.37b beats (exp. $2.36b)

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S&P 500 Heatmap ๐Ÿ”ฅ 

Recap Around the Street ๐Ÿง 

A lot of back and forth tweets between Elon and Trump leading to a major drop in Tesla share price through the session.

Source: Bloomberg

Market Preview ๐ŸŽž๏ธ 

  • Friday, June 6th: Consumer credit; Non-farm payrolls; Unemployment data

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