05:01 PM EDT, 06/06/2025 (MT Newswires) -- Equity markets rallied Friday amid strong jobs data and optimism as the US and China prepared to hold another round of trade talks next week.

The Nasdaq Composite was up 1.2% at 19,530, while the Dow Jones Industrial Average advanced 1.1% to 42,762.9. The S&P 500 rose 1% to 6,000.4 -- marking the first time since late February that the benchmark finished above the 6,000 level.

All sectors ended in the green, led by energy and communication services.

For the week, the Nasdaq gained 2.2%, the S&P 500 added 1.5%, and the Dow climbed 1.2%.

In economic news, nonfarm payrolls in the US rose by 139,000 last month, the Bureau of Labor Statistics reported. The consensus was for a 126,000 increase, according to a survey compiled by Bloomberg. The unemployment rate was steady at 4.2% in May, in line with the market view.

"Nonfarm payrolls remained resilient last month despite heightened trade policy uncertainty," TD Economics said. "Heightened uncertainty surrounding trade and fiscal policy alongside still-elevated inflation has left policymakers in no rush to cut rates."

In a social media post, President Donald Trump once again urged the Federal Reserve to lower interest rates. Trump said there is "virtually no inflation," and even if inflation does return, the Fed can always raise rates again.

Separately, Trump announced that Treasury Secretary Scott Bessent and two other officials will hold trade talks with representatives from China in London on Monday. That came a day after Trump said that he held a phone call with his Chinese counterpart, Xi Jinping. Previously, the countries accused each other of violating their preliminary trade deal.

Oil markets benefitted from the news as West Texas Intermediate crude oil was up 2% at $64.64 a barrel in late-afternoon trade.

US Treasury yields climbed, with the two-year rate jumping 12.1 basis points to 4.05% and the 10-year rate advancing 11.8 basis points to 4.51%.

In company news, Tesla (TSLA) shares jumped 3.7%, rebounding from a 14% slump in the previous session. The electric vehicle maker's chief executive, Elon Musk, and Trump launched a war of words on Thursday over Musk's criticism of the president's proposed tax bill, which is pending in the Senate.

The Tesla shares were "way oversold," Wedbush Securities said in a Friday note. "This spat between Trump and Musk does not change our firmly bullish view of the autonomous future looking ahead that we value at $1 trillion alone for Tesla," the brokerage wrote.

The president is "not interested" in getting on a phone call with Musk to resolve the ongoing spat, NBC News reported Friday, citing a senior White House official.

Amazon.com ( AMZN ) shares were up 2.7%, the second-best performer on the Dow. The e-commerce giant has vowed to "enhance" its systems to tackle fake reviews on its online marketplace, the UK Competition and Markets Authority said.

Lululemon Athletica ( LULU ) was the worst performer on the S&P 500, down nearly 20%. The athletic apparel and footwear company late Thursday slashed its full-year earnings outlook despite reporting fiscal first-quarter results above market estimates.

Broadcom ( AVGO ) shares slumped 5%, posting the second-biggest drop on the S&P 500. The chipmaker's most recent quarterly results and outlook released late Thursday narrowly beat estimates, but left investors disappointed as they were hoping for a more substantial upside surprise, Truist Securities said.

Gold was down 1.3% at $3,330.40 per troy ounce, while silver rose 0.8% to $36.10 per ounce.