US stocks rallied over 1% after a strong May jobs report, though trade war concerns linger.

US stocks saw a strong rally after the May jobs report showed better-than-expected hiring, adding 139,000 jobs. The S&P 500 and Nasdaq each rose over 1%, with the Dow also gaining 1%. Tesla's shares rebounded after tensions between Elon Musk and President Trump eased. Despite the positive jobs data, concerns over Trump's tariffs on the economy persist. Oil prices rose, and Treasury yields increased. The Federal Reserve may consider interest rate cuts amid economic uncertainty.