Trending stocks as S&P 500 index reclaims 6,000 points level

Wall Street’s major averages on Friday took home gains, with the S&P 500 reclaiming the 6,000 level for the first time since late February. Sentiment was boosted by a strong May jobs report.

The benchmark S&P 500 added +1% to end at 6,000.36 points, its first close above that mark since February 21. Meanwhile, the tech-focused Nasdaq Composite ended +1.2%, and the Dow finished +1.1%.

Tesla (TSLA) ended 14% lower on Thursday with one of its worst declines in history after President Trump and Elon Musk engaged in an escalating war of words during the trading session.

Nio (NIO) shares closed flat following a widened quarterly loss, despite a 40.1% rise in vehicle deliveries totaling 42,094. “We expect total deliveries for the second quarter to reach between 72,000 and 75,000, representing a year-on-year growth of 25.5% to 30.7%,” top boss William Bin Li said.

Procter & Gamble’s shares dipped 2% Thursday as it revealed a plan to cut 7,000 jobs amid prolonged tariff challenges. This restructuring will affect 15% of its non-manufacturing staff. The company, known for Gillette and Tide, aims to navigate sluggish consumer trends.

Wells Fargo (WFC) stock rose after the Federal Reserve lifted the asset cap imposed in 2018, acknowledging the bank’s fulfilment of all requirements under the consent order. The Federal Reserve reviewed Wells Fargo’s remediation efforts, third-party assessments, and carried out its own evaluation of the bank’s corporate governance and risk management.

Moderna (MRNA) climbed following FDA approval for its latest COVID-19 vaccine, mNEXSPIKE (mRNA-1283), marking it as Moderna’s third FDA-approved product. Unlike Spikevax, mNEXSPIKE is refrigerator-stable and demonstrated superior immune responses in a Phase 3 trial involving over 11,000 participants. The vaccine is approved for individuals 65 and older and those aged 12–64 with risk factors defined by the CDC. Moderna plans to distribute mNEXSPIKE along with Spikevax and its RSV vaccine, mRESVIA, for the 2025–2026 respiratory season.

DraftKings (DKNG) and Flutter Entertainment (FLUT) prices decreased following a proposal by Illinois lawmakers to raise the sports betting tax in FY2026, surprising the industry after last year’s unexpected tax hike, according to Truist analyst Barry Jonas. The new tax plan, effective from July 1, will impose 25 cents on the first 20 million online wagers and 50 cents thereafter. Jonas pointed out this would particularly challenge DraftKings and Flutter, which already face steep online sports betting rates in states like New York and New Hampshire (around 51%). This is noteworthy as Flutter’s FanDuel processed about 164 million wagers and DraftKings 146 million over the past year (April 2024–March 2025), compared to BetMGM’s 16 million.

Novo Nordisk (NVO) shares saw a 2.7% increase Friday after European regulators reported that its weight loss/diabetes treatment, semaglutide, might cause rare cases of eye-related side effects. The regulator suggested updating the product information to include this potential risk.