US stocks end up on jobs data, China hopes; Tesla bounces

U.S. stocks closed higher today, buoyed by promising employment data and renewed optimism regarding economic relations with China. The latest report indicated that nonfarm payrolls rose by 139,000 jobs in May, a slight dip from April's revised figure of 147,000. Despite the slowdown, investors remain encouraged by the steady job growth, which suggests resilience in the labor market amidst global uncertainties. Adding to the positive sentiment, hopes for improved U.S.-China relations also played a crucial role in boosting market confidence. Recent diplomatic engagements between the two nations have sparked optimism for easing trade tensions, which have long weighed on investor sentiment. Analysts suggest that any progress in this arena could pave the way for more stable economic interactions, benefiting both countries. Among individual stocks, Tesla experienced a notable rebound, contributing to the overall market upswing. The electric vehicle giant's shares surged after a series of upbeat analyst reports and strong delivery numbers, reinforcing investor faith in its growth trajectory. As markets continue to navigate economic indicators and geopolitical developments, today's performance underscores a cautiously optimistic outlook for the coming months.

— Authored by Next24 Live