Solid jobs data, more trade optimism send S&P 500 above 6,000

A good-enough jobs report and news of fresh US-China trade talks helped propel the S&P 500 to close above 6,000 for the first time since February.

The benchmark US stock index and Nasdaq 100 rose 1%, while the Russell 2000 led the way with a 1.7% advance.

All S&P 500 sectors finished positive, with energy, consumer discretionary, communication services, and financials all up more than 1%.

Gains were led by Palantir and Tesla (both still in the red for the week), as well as Shopify, which rallied 6% after Wells Fargo hiked its price target from $107 to $125. Retail favorites like Rocket Lab, SoundHound, and IonQ also jumped as traders’ dip-buying behavior continued.

SpaceX competitors Virgin Galactic and Rocket Lab jumped 2.4% and 9.3%, respectively, following the recent feud between Elon Musk and President Trump.

Lululemon led S&P 500 declines, sinking nearly 20% after the athleisure retailer got a string of analyst price target cuts following its latest Q1 earnings miss.

Petco shares tanked 23% after the pet supply retailer missed Q1 estimates and warned that full-year sales would fall in the low single digits.

DocuSign shares sank nearly 19% after the e-signature giant posted solid Q1 results, but a miss on billings raised investor fears about future growth.

Broadcom fell 5% even after topping Q2 estimates and guiding for stronger revenue this quarter as AI and networking demand continue to drive growth.