President Trump issued a warning to Elon Musk, stating that there would be "serious consequences" if Musk chooses to financially back Democratic candidates against Republicans.
Stocks surged as U.S. jobs report boosted major indexes to multi-month highs. Silver, critical materials, gold, and Bitcoin miners ETFs performed well.
In the wake of the public disagreement between Elon Musk and President Trump, Tesla has declared significant price reductions for its Cybertruck model.
In a heated debate on Piers Morgan Uncensored, Scott Galloway criticized Elon Musk's personal behavior while Kevin O'Leary defended his technological achievements, with Galloway saying, "I think the two of you are more impressed with Mr. Musk than I am."
Wedbush analyst Dan Ives reassured investors that despite the fallout between Elon Musk and Donald Trump causing Tesla's stock to drop, the long-term outlook for the company remains strong, calling the market reaction an overreaction.
Shares of electric vehicle pioneer Tesla (NASDAQ:TSLA) jumped 6.1% in the afternoon session after CEO Elon Musk and President Donald Trump appeared to de-escalate their recent tensions. The spat contributed to the double-digit decline in Tesla's stock price the previous day.
Economy added 139,000 nonfarm payrolls in May, exceeding expectations. Trump celebrated but clashed with Musk over tax bill, causing Tesla's stock to drop.
