U.S. stocks closed higher on Friday after a better-than-expected jobs report calmed worries about the economy, while Tesla bounced, clawing back some losses from a sharp plunge the previous session. The S&P 500 closed above 6,000 for the first time since Feb. 21, fueled by gains in technology shares.

Market Snapshot

The Dow Jones Industrial Average rose 442.88 points, or 1.05%, to 42,762.62, the S&P 500 gained 61.02 points, or 1.03%, to 6,000.32 and the Nasdaq Composite gained 231.50 points, or 1.20%, to 19,529.95. Palantir Technologies Inc., Hims & Hers Health Inc. rose 7%; Marvell Technology rose 5%.

Market Movers

Tesla Motors closed Thursday with a market capitalization of $915.7 billion, down $152.4 billion on the day, the largest one-day market cap decline for Tesla on record, according to Dow Jones Market Data.

Shares of Trump Media & Technology , the parent of social media site Truth Social and which was launched by Trump, gained 3.9%. They tumbled 8% on Thursday as the Musk-Trump relationship splintered.

Broadcom dipped 5% after the semiconductor and software company reported fiscal-second-quarter earnings that slightly beat analysts' estimates on revenue of $15 billion, better than consensus of $14.96 billion. Sales from artificial intelligence jumped 46% from a year earlier to $4.4 billion, "driven by robust demand for AI networking," said Chief Executive Hock Tan. The CEO said Broadcom expects growth in AI semiconductor revenue to rise to $5.1 billion in the third quarter, "delivering 10 consecutive quarters of growth, as our hyperscale partners continue to invest."

Rival chip maker NVIDIA , the leading maker of AI chips, gained 1.2% after Broadcom's quarterly earnings report showed that demand for artificial intelligence remains robust. Micron Technology rose 2.2%. AI companies Palantir Technologies and Super Micro Computer also traded higher, rising 6.5% and 1.9%, respectively.

Microsoft rose 0.6% Friday to a record high of $470.38. It ended the session with a market cap of $3.5 trillion, making it the most-valuable U.S. company, topping both Nvidia and Apple.

Circle Internet Corp. soared 29% at $107.70 after the leader in the world of stablecoins closed up 167% at $82.88 in its trading debut Thursday. Circle's initial public offering price was $31 a share.

Lululemon Athletica plummeted 20% after first-quarter earnings and sales topped analysts' expectations but the maker of yoga pants cut profit guidance for the fiscal year because of higher tariff-related costs and more markdowns. Lululemon said it expects fiscal-year earnings of between $14.58 to $14.78 a share, down from prior guidance of $14.95 to $15.15. The high end of Lululemon's new range is lower than Wall Street forecasts of $14.86.

Samsara, Inc. , the internet-of-things company, posted first-quarter earnings and revenue that beat expectations, but management said that customers' concerns about tariffs had prolonged sales cycles. Shares fell 4.6%.

Docusign tumbled 19% after the e-signature company reported first-quarter billings of $739.6 million, up 4% from a year earlier, but below company projections of $741 million to $751 million. Docusign said it expects billings in the fiscal year of around $3.3 billion, down from a prior forecast of as high as $3.4 billion.

Market News

US Suspends Licenses to Ship Nuclear Plant Parts to China, Sources Say

The U.S. in recent days suspended licenses for nuclear equipment suppliers to sell to China's power plants, according to four people familiar with the matter, as the two countries engage in a damaging trade war.

The suspensions were sent to companies by the U.S. Department of Commerce, the people said, and affect export licenses for parts and equipment used with nuclear power plants.

Tesla's Head of Optimus Humanoid Robot Program to Leave Firm

Milan Kovac, the head of Tesla Motors's Optimus humanoid robot program, announced his plans to step down in a post on X on Friday.

Kovac became the lead of the program in 2022 when he was appointed director of Optimus and Autopilot Engineering, and he took on the role of vice president in September last year.

Gemini Confidentially Files for US IPO as Crypto Markets Heat up

Gemini, a crypto exchange run by billionaire twins Tyler and Cameron Winklevoss, on Friday disclosed it had confidentially filed for a U.S. initial public offering, as digital asset firms seize on renewed market momentum.

Several high-profile companies, including those in high-risk sectors such as crypto and financial technology, have launched successful listings in recent weeks, reflecting pent-up demand and renewed vigor in the capital markets.