Key Takeaways

• The S&P 500 added 1% on Friday, June 6, as a strong jobs report pointed to resilience in the labor market despite tariff-related concerns.

• After retreating from record highs over the past few sessions, shares of data analytics firm Palantir bounced back, boosted by a signal of robust AI demand.

• Shares of Lululemon plummeted after the apparel maker cut its outlook for the current quarter and the full year, citing soft consumer spending.

Major U.S. equities indexes pushed higher to close out the trading week.

The Bureau of Labor Statistics reported that the U.S. economy added 139,000 jobs in May, topping economists' forecasts and helping alleviate concerns about a tariff-driven slowdown in the labor market.

The S&P 500 gained 1% on Friday, closing above the 6,000-point level for the first time since February. The Dow was up 1.1%, while the Nasdaq jumped 1.2%.

Shares of big data analytics software provider Palantir Technologies (PLTR) popped 6.5% higher, securing the top daily performance in the S&P 500. Positivity around its expanding government business helped lift Palantir to an all-time high on Tuesday, but before Friday's gains, the stock had been pulling back for a couple of sessions. Palantir and other artificial intelligence companies benefited from upbeat sentiment after earnings results from chipmaker Broadcom (AVGO) revealed strong AI demand.

Moderna (MRNA) shares wrapped up a volatile week of trading with a gain of 5.1% on Friday. The biotech company announced at the end of last week that it had received Food and Drug Administration (FDA) approval for the use of its new COVID-19 vaccine by older and higher-risk patients. On Tuesday, Health and Human Services Secretary Robert F. Kennedy Jr. said Moderna had agreed to a placebo-controlled trial of the vaccine.

United Airlines (UAL) announced a partnership with Spotify Technology (SPOT) that will allow airborne passengers to access playlists, audiobooks, and video podcasts from the streaming service on their seatback screens. United shares increased 4.8% on Friday, while rival carrier Delta Air Lines (DAL) shares were up 4.3%.

Tesla (TSLA) shares advanced 3.7% on Friday as the feud between Tesla CEO Elon Musk and U.S. President Donald Trump showed signs of de-escalation heading into the weekend. The spat between the two contributed to a major drop in the electric vehicle (EV) maker's stock in the prior session. Several analysts reaffirmed their bullishness on Tesla despite the high-profile conflict, but they noted that the tensions with Trump could complicate the regulatory path for the firm's self-driving technology or risk alienating people with certain political perspectives.