Tesla Rebounds Amid Cooling Musk-Trump Tensions
U.S. stock index futures pointed upward as Tesla shares rebounded following reductions in friction between Elon Musk and President Trump. Economic data highlighted concerns over a slowdown due to trade issues. Investors await payroll data for further insights into the labor market and Fed's rate plans.
On Friday, U.S. stock index futures experienced a slight uptick as investors anticipated key payrolls data. Tesla shares recovered after notable tensions between CEO Elon Musk and President Donald Trump showed signs of easing.
Tesla stock rose 5.4% in premarket trading after the sharp 15% drop the previous day due to Trump's public clash with Musk, including threats to terminate government contracts with Musk's enterprises. The market saw Tesla lose $150 billion in value on Thursday, influencing Wall Street indices negatively.
New economic data this week stirred investor concern over a potential slowdown driven by trade uncertainties, with payroll figures set to provide further insights. Meanwhile, Wall Street continues to monitor the Federal Reserve's next policy moves amidst expectations of two rate cuts by year's end.
(With inputs from agencies.)
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