US stocks rallied on Friday, with the S&P 500 (^GSPC) breaching the 6,000 level following a moderate beat on the monthly jobs report and rising investor hopes of a cooldown in the acrimonious feud between President Trump and Elon Musk.

The S&P 500 (^GSPC) added about 1.0% to close at the 6,000 mark, its highest level since February. The Dow Jones Industrial Average (^DJI) rose over 400 points, or 1.1%, while the tech-heavy Nasdaq Composite (^IXIC) gained 1.2%.

Tesla (TSLA) shares rebounded as CEO Musk and Trump moved to cool tensions. Musk backed off his threat to decommission the Dragon spacecraft used by NASA after Trump threatened his government contracts. However, the White House tamped down reports of a potential "peace call" between the two.

Tesla shares partially recovered from a 14% wipeout in a broader stock slide on Thursday as mounting differences between the two powerful men erupted into the open. Musk called for the president's impeachment, while Trump threatened the contracts and breaks critical to Musk's business empire.

The feud injected more unpredictability into an already uncertain market, just as weary investors had become cautiously optimistic that Trump tariffs could be reined in and the US economy might prove resilient.

On Friday President Trump said high level trade talks with China would take place in London this upcoming Monday.
Meanwhile on Friday morning, the labor market showed more signs of resilience as Trump's tariffs continued to seep in to the economy. The US added 139,000 jobs in May, more than the 126,000 expected by economists as the hiring rate slowed and unemployment held flat at 4.2%.

Following the May jobs beat, President Trump again criticized the Federal Reserve for being "too late" with its monetary policy. Trump urged the central bank to ease borrowing costs by reducing rates, writing in a social media post: "Go for a full point, Rocket Fuel!"