For: June 6, 2025
>>Trading Week Winding Down
(New York, NY) -- The opening bell rings this morning after stocks closed lower on Wall Street Thursday. At the closing bell, the Dow Jones Industrial Average fell by 108 to 42-319. The S^P 500 dropped by 31 points to 59-59. The Nasdaq lost 162 points to 19-298.
>>Tesla Stock Plummets Following Trump, Musk War Of Words
(Austin, TX) -- Tesla stock is down almost 15-percent following a war of words between CEO Elon Musk and President Trump on Thursday. Trump and Musk traded escalating insults Thursday afternoon, with the president threatening to "terminate Elon's Governmental Subsidies and Contracts." Musk has been critical of Trump's "big beautiful bill" since ending his time at DOGE, and yesterday, Trump said he asked Musk "to leave" his administration. The spat across social media has seen the EV maker drop over 150-billion dollars in value, the biggest hit to its market cap ever, while shares fell 14-percent.
>>Jobs Report Due Today
(Undated) -- The always closely-watched monthly jobs report is due out this morning. It's expected to show 125-thousand new jobs created last month, versus 177-thousand the month prior. The unemployment rate is seen holding steady at four-point-two percent.
>>Average 401(k) Balances Fell In First Quarter
(Undated) -- Economic uncertainty is taking a toll on retirement accounts. According to Fidelity Investments, which is the largest provider of 401(k) plans in the U.S., average balances fell three-percent while the average individual retirement account balance fell four-percent. The findings come even as savings rates hit a record high in the quarter at a combined 14-point-three-percent. The analysis was reported on the heels of news that U.S. gross domestic product shrank zero-point-three-percent during the first quarter of this year.
>>Procter & Gamble To Cut 6% Of Workforce
(Cincinnati, OH) -- Procter & Gamble is set to cut six-percent of its workforce. The maker of Pampers diapers and Tide detergent will get rid of seven-thousand jobs over the next two years as it restructures. Executives at a conference in Paris on Thursday said this approach is not new and is meant to accelerate the company's current strategy. In April, Procter & Gamble said it would raise the price of some of its products and it was set to make every move it could to offset the impact of tariffs.
