We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
We both began and ended today’s trading day with news about President Trump: early this morning, the Chinese government announced Trump and Chinese President Xi held a phone call that lasted an hour and a half on trade policy. By mid-day, an open rift between recently departed DOGE leader and Tesla (TSLA - Free Report) CEO Elon Musk sent indexes southward. Their war of words continues on X and Truth Social as I type this.
The Dow closed the session -108 points, -0.25%, while the S&P 500 slimmed -31 points, -0.53%. The Nasdaq shed -162 points, -0.83%, as Tesla shares slid to their worst one-day loss in history, -14%. The small-cap Russell 2000 took the least amount of flak, -0.07%. This all said, the indexes did come off session lows.
Often, this administration feels more like a soap opera than an agency of the most powerful government in the world. It remains to be seen how far this rhetoric goes, but market participants were in no mood to remain very hopeful. At the same time, the war of words between these two titans has very little to do with fundamentals in the equities market.
Earnings Results After the Close
Semiconductor maker Broadcom (AVGO - Free Report) beat earnings estimates by a penny in its fiscal Q2 report out after today’s closing bell, to $1.58 per share. This was +43% over the $1.10 per share reported in the company’s year-ago quarter. Revenues of $15.00 billion. The company also increased its revenue guidance for next quarter, to $15.8 billion.
Broadcom bought back shares in the quarter and held a quarterly dividend of $0.59 per share. The company also has $6.4 billion in free cash flow. Not too shabby for the Zacks Rank #2 (Buy)-rated stock. Shares had sold off initially, but have leveled out around -1.5%. Considering overall market conditions, we don’t see this being so bad. (You can see the full Zacks Earnings Calendar here.)
Athleisure giant lululemon (LULU - Free Report) reported Q1 earnings after today’s close, also registering a 1-cent beat to $2.60 per share on revenues of $2.4 billion, above the $2.36 billion consensus and +7% from the year-ago quarter. However, the company guided next quarter down, particularly on next-quarter earnings. It was assisted by its growing International presence, which gained +6% overall. The Americas were -2%.
What to Expect from the Stock Market Tomorrow
The big Employment Situation report from the Bureau of Labor Statistics (BLS) hits the tape tomorrow morning. Expectations are for the U.S. economy to have created 125K jobs last month — more than 50K fewer than the previous week, but still a healthy number compared to the 37K private-sector job gains from the ADP (ADP - Free Report) reported yesterday.
We know the BLS and ADP jobs numbers don’t often align in real time; upon revisions in following months they usually do tell more or less the same story. In any case, these will be important numbers to sift through in terms of gauging labor market health. Just this morning we saw Weekly Jobless Claims creep up to levels not seen in months or even years. Questions or comments about this article and/or author? Click here>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Trump, Musk War of Words Send Indexes Lower Late
Thursday, June 5, 2025
We both began and ended today’s trading day with news about President Trump: early this morning, the Chinese government announced Trump and Chinese President Xi held a phone call that lasted an hour and a half on trade policy. By mid-day, an open rift between recently departed DOGE leader and Tesla (TSLA - Free Report) CEO Elon Musk sent indexes southward. Their war of words continues on X and Truth Social as I type this.
The Dow closed the session -108 points, -0.25%, while the S&P 500 slimmed -31 points, -0.53%. The Nasdaq shed -162 points, -0.83%, as Tesla shares slid to their worst one-day loss in history, -14%. The small-cap Russell 2000 took the least amount of flak, -0.07%. This all said, the indexes did come off session lows.
Often, this administration feels more like a soap opera than an agency of the most powerful government in the world. It remains to be seen how far this rhetoric goes, but market participants were in no mood to remain very hopeful. At the same time, the war of words between these two titans has very little to do with fundamentals in the equities market.
Earnings Results After the Close
Semiconductor maker Broadcom (AVGO - Free Report) beat earnings estimates by a penny in its fiscal Q2 report out after today’s closing bell, to $1.58 per share. This was +43% over the $1.10 per share reported in the company’s year-ago quarter. Revenues of $15.00 billion. The company also increased its revenue guidance for next quarter, to $15.8 billion.
Broadcom bought back shares in the quarter and held a quarterly dividend of $0.59 per share. The company also has $6.4 billion in free cash flow. Not too shabby for the Zacks Rank #2 (Buy)-rated stock. Shares had sold off initially, but have leveled out around -1.5%. Considering overall market conditions, we don’t see this being so bad. (You can see the full Zacks Earnings Calendar here.)
Athleisure giant lululemon (LULU - Free Report) reported Q1 earnings after today’s close, also registering a 1-cent beat to $2.60 per share on revenues of $2.4 billion, above the $2.36 billion consensus and +7% from the year-ago quarter. However, the company guided next quarter down, particularly on next-quarter earnings. It was assisted by its growing International presence, which gained +6% overall. The Americas were -2%.
What to Expect from the Stock Market Tomorrow
The big Employment Situation report from the Bureau of Labor Statistics (BLS) hits the tape tomorrow morning. Expectations are for the U.S. economy to have created 125K jobs last month — more than 50K fewer than the previous week, but still a healthy number compared to the 37K private-sector job gains from the ADP (ADP - Free Report) reported yesterday.
We know the BLS and ADP jobs numbers don’t often align in real time; upon revisions in following months they usually do tell more or less the same story. In any case, these will be important numbers to sift through in terms of gauging labor market health. Just this morning we saw Weekly Jobless Claims creep up to levels not seen in months or even years.
Questions or comments about this article and/or author? Click here>>