Stock Market Live June 6: Jobs Picture Improves, S&P 500 (VOO) Rises

This article will be updated throughout the day, so check back often for more daily updates.

Two days ago, Automatic Data Processing (Nasdaq: ADP) data showed a dramatic weakening in the U.S. employment market, with private payrolls growing only 37,000 in May, well short of the 110,000 jobs forecast and, indeed, the weakest such ADP jobs report since March 2023. But what if that data was wrong?

This morning, the U.S. Bureau of Labor Statistics reported that nonfarm jobs actually grew by 139,000 in May. Not only was that more than the 125,000 jobs forecast for this report. It was also a result directly opposite the one implied by the ADP data earlier in the week.

DOL data also show that the unemployment rate held steady at 4.2%. 

The Vanguard S&P 500 ETF (NYSEMKT: VOO) is reacting positively to the news, rising 1% in the market’s opening minutes.

Earnings

S&P 500 component company lululemon athletica (Nasdaq: LULU) reported a modest earnings beat last night after close of trading. Earnings for lulu’s fiscal Q1 2026 came in at $2.60 per share, two cents better than expected. The bad news? Guidance for fiscal Q2 was very weak at no more than $2.90 per share, where Wall Street analysts forecast $3.32.

Full-year guidance is similarly weak at no more than $14.78 for fiscal 2026, although sales should be close to analyst predictions at $11.2 or $11.3 billion.

S&P 500 component company and semiconductors powerhouse Broadcom (Nasdaq: AVGO) beat by a penny last night, reporting $1.58 per share on $15 billion in Q2 revenue, also ahead of expectations — and Broadcom’s revenue guidance for fiscal Q3 is also ahead of expectations.

Analyst Calls

S&P 500 component company Deere & Company (NYSE: DE) received an upgrade to buy from Melius, with a $750 price target, this morning. “The timeline to cyclical recovery and to the market’s appreciation for Deere’s extraordinary position is still uncertain,” said the analyst. “It is increasingly clear, however, that Deere’s leading position in ag tech will deliver transformational value to farmers, and that the company will share in a meaningful part of that upside.” 

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