Friday Market Pulse: After Tesla’s Tumble, Eyes on Jobs Data

We’re opening the final trading session of the week with a cautious tone, as global markets digest Thursday’s volatile session. Thursday delivered a mix of soft macro data, policy shifts, and headline-driven shocks—none more dramatic than the 15% plunge in Tesla, triggered by the escalating fallout between Elon Musk and Donald Trump.

The big event on Thursday was the European Central Bank’s rate decision. As expected, the ECB cut rates by 25 basis points, but the press conference that followed didn’t exactly light a fire under the markets. The tone from the ECB leaned dovish, but without much conviction for an aggressive easing path ahead. European indices climbed modestly in response but struggled to hold gains by the close.

Over in the U.S., the data stream was less than impressive. Jobless claims came in higher than expected once again, raising fresh concerns about the state of the U.S. labor market, especially when viewed alongside Wednesday’s shockingly weak ADP numbers. Despite this, traders largely looked past the economic data—until later in the day, when sentiment turned sour.

By the time U.S. markets closed, major indices had pulled back sharply from the day’s highs. Tech stocks bore the brunt, led by Tesla’s selloff. The Nasdaq turned negative, while the S&P 500 managed to stay barely afloat.

Friday Morning: A Mixed Picture

We’re seeing a mixed open in early European trading. Futures across major U.S. indices are showing signs of stabilization, hinting at a potential rebound—though it’s too early to call. European equities are slightly in the green, but gains are modest and tentative.

Currencies are showing some retracement. The U.S. Dollar, which weakened for most of the week, is now trying to regain ground. The Japanese Yen and Swiss Franc, typical safe havens, are slightly lower in early trading—suggesting a mild return of risk appetite. However, the picture remains fragile.

Commodities are also attempting to find footing. Oil, after a steep drop during Thursday’s U.S. session, is bouncing slightly in the morning. The overall trend for the week is still positive, but the volatility is keeping traders on edge. Meanwhile, precious metals are under pressure—gold is slipping again, while silver, platinum, and palladium remain near recent highs but are showing signs of consolidation.

In cryptocurrencies, Bitcoin and Ethereum are attempting a modest recovery after Thursday’s significant drop, but sentiment is cautious. Bitcoin remains below key technical levels after breaking the neckline of a head-and-shoulders pattern.

Eyes on the Calendar: Big Jobs Data Ahead

Today’s focus is squarely on the U.S. Non-Farm Payrolls report and Canadian employment data. These figures will be pivotal in shaping expectations for central bank policy, especially in the U.S., where weak job numbers could fuel more dovish sentiment. Volatility is almost guaranteed around the release.

Source: https://www.axiory.com/analytics/market-news/friday-market-pulse-after-tesla-s-tumble-eyes-on-j