logo
Should Auto Workers Fear Humanoid Robots or AI?

Should Auto Workers Fear Humanoid Robots or AI?

Yahoo24-03-2025

Mercedes-Benz reveals progress with the integration of robots and AI into car production processes, with both now being tested by the automaker.
The Apptronik Apollo humanoid robot is one of several now being readied by developers for factory and warehouse work, with expectations of a future market for robots of its type for physical work.
AI virtual agents and chatbots are also being integrated into engineering systems, allowing them to quickly diagnose issues with computer code and other systems and offer solutions to engineers.
Tesla may have gotten plenty of publicity for its Optimus robot despite being a relatively late arrival into the humanoid robot genre, but it's far from the only automaker now betting on robots.
Mercedes-Benz is now one of several automakers that see a role for humanoid robots in a car factory setting—an idea that would have seemed whimsical if not laughable a decade ago—and it's now taking steps to further this vision at its Berlin-Marienfelde hub for new production technologies.
The robots are produced by US-based Apptronik, which got its start recently, launching at the Human Centered Robotics Lab at the University of Texas at Austin in 2016. And they're now being tested by Mercedes in a real factory setting.
Mercedes says it is making a a low double-digit-million-euro investment into the startup, seeing a future for humanoid robots in vehicle assembly plants, at least when it comes to repetitive tasks that concern the sorting of parts and boxes within the factory—but perhaps not the splicing of tiny wires in some kind of electrical component. At least not yet.
"Apptronik's Apollo can transport components or modules to the production line for Mercedes-Benz's highly skilled production staff to assemble and conduct initial quality checks on components," the automaker notes.
Mercedes says the next step for Apollo robots will include more autonomous operations, when coupled with AI, that will make them more useful and intelligent helpers within a factory.
Ultimately, there is another side to humanoid robots in factories, and over the past decade or so it has often been summed up with the phrase "job loss to automation."
Mercedes does not shy away from the longer-term potential of robots in factory settings, and even points out that its employees are effectively training their potential, future replacements (or assistants, depending on your viewpoint), using augmented reality and teleoperation systems.
"Mercedes-Benz employees with hands-on production experience have transferred their knowledge to Apollo using teleoperation processes and augmented reality," the automaker says.
At the moment, humanoid robots may not seem like much of a threat to the jobs of auto workers. For one thing, they can't even tie their shoelaces if they were suddenly given a pair of vintage Adidas track shoes for some reason.
But with another decade of development we can't rule it out, and neither should those humans currently employed by automakers and suppliers.
Simultaneously, Mercedes-Benz is also working to integrate AI into its production processes, at least at the level of chatbots and virtual agents. The potential promised by these AI-supported virtual assistants is the ability to quickly and effectively analyze data, Mercedes says, including helping human engineers quickly find reasons for quality deviations during production.
"These AI agents quickly and reliably analyze available data, identify patterns and anomalies, and provide well-founded analyses and suggested solutions at the touch of a button, driving real efficiency gains in production," Mercedes notes.
Mercedes isn't the only automaker that sees a future for AI in software engineering, but it is one that perhaps faces fewer barriers to implementation across a wide range of systems compared to humanoid robots.
At this point it may feel like AI has had a head start on humanoid robots when it comes to tech that could be used by automakers, but those who remember Asimo know that it's a very different picture.
Considered separately, these two technologies may have limited immediate potential to transform a car factory.
But taken together, they could make the inside of an auto plant look very different another decade from now.
Will humanoid robots be common in car factories 10 years from now, or will they remain a relatively niche technology? Please comment below.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Lucid Announces Election of Douglas Grimm to Board of Directors
Lucid Announces Election of Douglas Grimm to Board of Directors

Yahoo

time16 minutes ago

  • Yahoo

Lucid Announces Election of Douglas Grimm to Board of Directors

Automotive Executive Brings Extensive Industry Experience to the Board of Directors NEWARK, Calif., June 5, 2025 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), maker of the world's most advanced electric vehicles, today announced the election of Douglas Grimm to its board of directors effective immediately. Grimm was elected at Lucid's 2025 Annual Meeting of Stockholders and will bring extensive automotive experience to Lucid's Board of Directors after having held executive positions at Chrysler Corporation as well as global automotive supply companies, including Metaldyne, Dana and Visteon. "We are delighted to welcome Douglas Grimm to the Lucid board," said Turqi Alnowaiser, Chairman of the Lucid Board of Directors. "We are confident that his insights will be valuable, given his proven leadership within the automotive and manufacturing sectors." Grimm currently serves as the CEO of V-to-X, LLC, which is focused on advising and investing in the mobility sector. From 2015 to 2017, he served as President and Chief Operating Officer at Metaldyne Performance Group, a $3 billion automotive metals supplier with 60 manufacturing plants in 13 countries and 12,000 employees. Previously, Grimm founded and was Chairman and CEO of Grede Holdings LLC which subsequently merged into MPG. He also served in various leadership roles during different periods at the company between 2001and 2006 where he was responsible for commercial operations, forging and casting operations, global purchasing and quality. At Visteon, Grimm served as Vice President of Global Ford, Materials Management, Powertrain Electronics & Fuel Operations. While at Dana Corporation, Grimm served in several executive positions, including Vice President of Global Strategic Sourcing. He started his career at Chrysler Corporation for ten years prior to transitioning into the automotive supply base. Grimm currently serves as Chairman of the Board of Blue Bird Corporation and Electrical Components International, Inc. (ECI) and also serves on the board of directors of Lumileds and Pangea Corporation. Lucid's board is currently composed of eight members. The company's other board members were re-elected today, including Turqi Alnowaiser, Lisa M. Lambert, Andrew Liveris, Nichelle Maynard-Elliott, Chabi Nouri, Ori Winitzer, and Janet S. Wong. About Lucid Group Lucid (NASDAQ: LCID) is a Silicon Valley-based technology company focused on creating the most advanced EVs in the world. The award-winning Lucid Air and new Lucid Gravity deliver best-in-class performance, sophisticated design, expansive interior space and unrivaled energy efficiency. Lucid assembles both vehicles in its state-of-the-art, vertically integrated factory in Arizona. Through its industry-leading technology and innovations, Lucid is advancing the state-of-the-art of EV technology for the benefit of all. Investor Relations Contact investor@ Media Contact media@ Trademarks This communication contains trademarks, service marks, trade names and copyrights of Lucid Group, Inc. and its subsidiaries and other companies, which are the property of their respective owners. View original content to download multimedia: SOURCE Lucid Group

Hilgers Graben and Two Partners Earn Prestigious Chambers USA Honors
Hilgers Graben and Two Partners Earn Prestigious Chambers USA Honors

Yahoo

time20 minutes ago

  • Yahoo

Hilgers Graben and Two Partners Earn Prestigious Chambers USA Honors

Firm receives first Dallas/Fort Worth litigation ranking; partners recognized for government investigations and e-discovery LINCOLN, Neb., June 05, 2025--(BUSINESS WIRE)--National commercial litigation and discovery counsel law firm Hilgers Graben is pleased to announce that the firm and two of its partners have earned recognition from Chambers USA, a guide published by Chambers & Partners that identifies and ranks the best legal talent globally. For the first time, the firm earned a nod for its litigation practice in Dallas/Fort Worth. Firm partner Scott Mascianica again earned recognition for white-collar crime and government investigations in Texas, and partner Rose Hunter Jones was again recognized with a national ranking in e-discovery and information governance. "Scott and Rose exemplify the excellence, integrity and client-centered approach that defines our firm," said firm founder Heather Hilgers. "We are so honored to be recognized by Chambers USA. We're especially proud to see our Dallas litigation team earn its first Chambers ranking." As part of the ranking process, Chambers conducts a rigorous review that includes thousands of peer and reference interviews. One reference described Hilgers Graben as "a tremendous firm" and said the firm is "amazing and so wonderful to work with." Mr. Mascianica is the firm's head of government investigations and regulatory enforcement and a former SEC counsel. He is described by one client, according to Chambers, as "an all-around great lawyer." "Scott has really exceptional technical expertise and experience. He is very well connected and relates to people well," a client told Chambers. Ms. Jones received a highly sought-after Band 2 ranking nationwide for her e-discovery practice. Clients praised her as "impressive and driven." One client told Chambers, "I would highly recommend working with Rose. She takes a unique approach to e-discovery and has specific expertise in the area." Hilgers Graben's Dallas office, led by Grant Schmidt, is known for its sophisticated commercial litigation practice and high-level advocacy on matters nationwide. "We've built a team in Dallas that reflects the firm's core values—delivering elite litigation services with efficiency, responsiveness, and integrity," said Mr. Schmidt. "It's gratifying to see our work recognized by Chambers as we continue to expand our footprint in the region." London-based Chambers and Partners publishes its U.S. guide annually, selecting honorees based on qualities such as technical legal ability, professional conduct, client service, commercial astuteness, diligence and commitment. About Hilgers Graben Hilgers Graben PLLC is a nationwide law firm specializing in complex commercial and IP litigation, government investigations, discovery counsel, corporate and trademark services. The firm combines elite legal talent with common sense business principles to provide high-value legal services while avoiding the billing rate insanity. Hilgers Graben has been named to the Inc. 5000 six times, including in 2024, and recognized as a Best Law Firm by The Best Lawyers in America. The firm is certified by the National Association of Minority & Women Owned Law Firms (NAMWOLF), making it the largest certified women-owned law firm in the nation. View source version on Contacts Media Contact: BeLynn Hollers800-559-4534Belynn@

Stock market today: Dow, S&P 500, Nasdaq slide as Tesla dives 14% on Trump-Musk escalation
Stock market today: Dow, S&P 500, Nasdaq slide as Tesla dives 14% on Trump-Musk escalation

Yahoo

time24 minutes ago

  • Yahoo

Stock market today: Dow, S&P 500, Nasdaq slide as Tesla dives 14% on Trump-Musk escalation

US stocks fell Thursday as escalating tensions between President Trump and Tesla (TSLA) CEO Elon Musk overshadowed a phone conversation between Trump and China's Xi Jinping, which had lifted investor optimism that a strained US-China relationship could be thawing. The Dow Jones Industrial Average (^DJI) fell nearly 0.3%. The S&P 500 (^GSPC) was down more than 0.5%, and the tech-heavy Nasdaq Composite (^IXIC) slid over 0.8%. Trump's spat with Musk burst into the open Thursday after days of Musk-led criticism of his giant tax-and-spending bill working its way through Congress. Trump posted on Truth Social that "the easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts." Tesla stock closed down by more than 14%, with losses escalating after Trump's apparent threat to Musk's businesses. Earlier, just ahead of the market open, Trump confirmed a phone call with China's Xi after Chinese state media said the two leaders spoke on Thursday at Trump's request. "The call lasted approximately one and a half hours, and resulted in a very positive conclusion for both Countries," Trump wrote on social media on Thursday morning. "Our respective teams will be meeting shortly at a location to be determined." Read more: The latest on Trump's tariffs Meanwhile, Department of Labor data out Thursday showed weekly claims for unemployment benefits hit their highest level in eight months during the final full week of May. Meanwhile, the tally of continuing claims continued to hover near the highest level in nearly four years, as the US labor market continues to show signs of slowing. Investors now await Friday's release of the closely watched May jobs report, which economists say will offer the "first real look at how the labor market is faring under a rapidly changing trade environment." In other corporate news, shares of stablecoin firm Circle (CRCL) exploded higher in its market debut. Well, despite the recent rise of the 'TACO" trade, it appears President Trump does not always chicken out. After days of Tesla (TSLA) CEO Elon Musk bashing Trump's tax bill, the president responded in scathing fashion on Thursday. Trump wrote in a Truth Social post that the easiest way to save money in the budget is to "terminate Elon's Governmental Subsidies and Contracts." He added in a separate post, "Elon was 'wearing thin' I asked him to leave, I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!' The spat resulted in Tesla stock falling more than 14% amid its worst single-day market cap loss in history. With the stock trading at about $284 per share, roughly in line with where shares ended the trading session the day after the election on Nov. 6, the Trump bump has essentially been erased from one of the most popular Trump trades. Now, with the stock essentially back at the same price it was seven months ago, investors are faced with evaluating the difference between a company's CEO buddying up with the president and that same CEO becoming the president's direct adversary. President Trump took to his social media platform, Truth Social, on Thursday afternoon to continue an ongoing feud with Tesla (TSLA) CEO Elon Musk, who recently left his post with the Department of Government Efficiency (DOGE). "Elon was 'wearing thin,' I asked him to leave, I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!," Trump wrote on Truth Social. In a separate post, Trump said the easiest way money in the budget is to "terminate Elon's Governmental Subsidies and Contracts." Tesla stock quickly extended losses and was down more than 12% just after Trump posted the comments. Read more about the ongoing feud here. Mortgage rates fell for the first time in a month, following a sharp move lower in Treasury yields. At around 6.9%, relatively high rates have depressed mortgage and homebuying activity throughout the critical spring season. Yahoo Finance's Claire Boston reports: Read more here. Palantir (PLTR) shares fell as much as 5% in afternoon trading as Semafor reported Republican privacy advocates in Congress are criticizing the Trump administration's work with the defense technology company. Multiple Congress members expressed privacy concerns regarding Palantir's collection of a "massive pool of government data on Americans." Read more here. Yahoo Finance's Pras Subramanian reports: Read more here. Stablecoin issuer Circle Internet Group (CRCL) shares are soaring just after the company began trading at $69. The stock quickly hit $92 after several trading halts. Shares are now up more than 200% from the companies IPO price of $31 per share. Read more here. The S&P 500 (^GSPC) came close to touching 6,000 on Thursday, its highest level since February. The broad-based index touched a session high of 5,999.70 after President Trump said he had a "very good phone call" with his Chinese counterpart, Xi Jinping, about trade. Stocks have roared back roughly 20%, or more than 1,000 points, from their April lows after President Trump's "Liberation Day" tariff policy reveal. The president has since rolled back the broad-based reciprocal tariff plan he unveiled on April 2, announcing a 90-day pause on many countries, a framework deal with the UK, and a temporary trade truce with China. Yahoo Finance's Jen Schonberger reports: Read more here. Trump Media and Technology (DJT) took a key step toward launching a publicly traded crypto investment product Thursday morning. The newly formed Truth Social Bitcoin ETF business trust filed its S-1 with the US Securities and Exchange Commission to register the new exchange-traded fund licensing Trump Media's social media brand. The ETF will trade on the NYSE Arca. Thursday's filing is a significant step for Trump Media's move into the cryptocurrency space. Shares of DJT were down just over 1% late Thursday morning. Read the full story here. President Trump posted on social media that he had a 'very good phone call' with Chinese leader Xi Jinping over trade. "I just concluded a very good phone call with President Xi, of China, discussing some of the intricacies of our recently made, and agreed to, Trade Deal," Trump wrote on Truth Social on Thursday morning. "The call lasted approximately one and a half hours, and resulted in a very positive conclusion for both Countries," he added. Trump said each country's respective teams will be meeting shortly at a location to be determined. The president also said there "should no longer be any questions respecting the complexity of Rare Earth products." The issue of rare earth minerals, crucial components for manufacturing, has come to the forefront in recent weeks as China has made moves to restrict their exports to the US, in retaliation against US trade policy. This week, a group representing US auto suppliers called on Wednesday warned that the issue could quickly disrupt auto parts production Read more here. Tesla (TSLA) stock fell more than 5% on Thursday, extending declines from the previous session following an increasingly public policy blowout between President Trump and Tesla CEO Elon Musk "Call your Senator, Call your Congressman, Bankrupting America is NOT ok! KILL the BILL," Musk posted on X on Wednesday. Musk added, "If the massive deficit spending continues, there will only be money for interest payments and nothing else!" EV tax credits could also be at risk after a report from Bloomberg suggests that Musk's new tack to destroy the bill comes after his lobbying to save the tax credits was unsuccessful. Amazon (AMZN) stock gained as much as 2% on Thursday morning after Chinese state media said President Trump and Chinese leader Xi Jinping spoke on Thursday, at the request of the US president. Amazon, which sells many products sourced in China, rose following the announcement. US stocks opened higher on Thursday after Chinese media reported a conversation between President Trump and Chinese leader Xi. This raised investor hopes that the two countries could be coming closer to a lasting trade agreement. The Dow Jones Industrial Average (^DJI) was little changed, while the S&P 500 (^GSPC) rose slightly. The tech-heavy Nasdaq Composite (^IXIC) also gained 0.2%. Chinese state media said Trump and Chinese leader Xi Jinping spoke on Thursday at the US president's request. Tesla (TSLA) stock slumped more than 3% in premarket trading as CEO Elon Musk continued his public feud with policymakers over President Trump's tax and spending bill. "Call your Senator, Call your Congressman, Bankrupting America is NOT ok! KILL the BILL," Musk posted on X on Wednesday. Some have speculated that these outbursts may in part have to do with Musk's concern that Congress will do away with the federal EV tax credit, which helped the company by making its cars more affordable to consumers. Though Musk has also downplayed Tesla's reliance on the tax credit in the past. Yahoo Finance's Pras Subramanian reports: Read more here. Weekly claims for unemployment benefits hit their highest level in more than seven months during the final full week of May while the number of Americans filing for unemployment insurance on an ongoing basis continued to hover near its highest level in nearly four years as the US labor market continues to show signs of slowing. Data from the Department of Labor released Thursday morning showed 247,000 initial jobless claims were filed in the week ending May 231, up from 239,000 the week prior and above economists' expectations for 235,000. Meanwhile, 1.904 million continuing claims were filed, down slightly from 1.907 million the week prior and near the highest level seen since November 2021. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs. Silver surged to its highest level since February 2012, rising about 4% to above $36 an ounce on Thursday morning. Gold also rose 0.5% as demand for the metals remained strong. Bloomberg reports: Read more here. As millions of people flooded into the stock market over the past few years, understanding of the things that move markets seems to have made noticeable progress. Not, however, for bonds, notes Yahoo Finance's Hamza Shaban: Read more here in today's Morning Brief. Earnings: Broadcom (AVGO), DocuSign (DOCU), Lululemon (LULU), Cracker Barrel (CBRL), Duluth Trading (DLTH), Land's End (LE), Petco (WOOF), Rubrik (RBRK), Victoria's Secret (VSCO) Economic data: Initial jobless claims (week ending May 31); Continuing claims (week ending May 24); Challenger job cuts (May); Nonfarm productivity (first quarter final); Unit labor costs (first quarter final) Here are some of the biggest stories you may have missed overnight and early this morning: Bonds are 'boring' — but they're critical to focus on right now US plans wider China tech curbs targeting subsidiaries 401(k) savings rate hit a record in first quarter: Fidelity US business optimism slumps in 'clear pivot' from Trump election Tesla: Musk may be changing his tune on EV tax credits Trump tariffs: China's rare-earth broadside hits its target Tide maker Procter & Gamble is slashing 7,000 jobs Amazon tests humanoid robots to replace delivery workers: Report Procter & Gamble (PG) said Thursday it will cut 7,000 jobs — or around 6% of its global workforce — as it grapples with rising tariff-related costs and shifts in demand from penny-watching shoppers. The consumer products giant's two-year restructuring plan also calls for the dropping of certain product categories and brands, Reuters reported. Shares in P&G were little changed in premarket trading as investors assessed the news from the world's largest consumer goods company. Yahoo Finance's Brian Sozzi reports: Read more here. Here are some top stocks trending on Yahoo Finance in premarket trading: Tesla (TSLA) stock fell over 1% in premarket trading on Thursday following CEO Elon Musk's latest attack on President Trump's tax bill. Musk said: "Call your Senator, Call your Congressman, Bankrupting America is NOT ok! KILL the BILL," Musk posted on X. PVH Corp (PVH), the owner of designer brand Calvin Klein, stock dropped 8% before the bell after cutting its profit outlook for the year, citing weakness in the US, China and tariffs. Zac Coughlin, Chief Financial Officer, said, 'We are reaffirming our revenue guidance for the year but are decreasing our outlook for profitability and earnings per share to reflect that backdrop and the current performance of our business." Robinhood (HOOD) stock rose 1% following Bank of America (BAC) saying the online brokerage is a "prime candidate" to enter the S&P 500 Index in the rebalancing set to be announced Friday. Broadcom (AVGO) stock rose 1.4% in premarket trading ahead of second-quarter earnings report, due for release later today. Well, despite the recent rise of the 'TACO" trade, it appears President Trump does not always chicken out. After days of Tesla (TSLA) CEO Elon Musk bashing Trump's tax bill, the president responded in scathing fashion on Thursday. Trump wrote in a Truth Social post that the easiest way to save money in the budget is to "terminate Elon's Governmental Subsidies and Contracts." He added in a separate post, "Elon was 'wearing thin' I asked him to leave, I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!' The spat resulted in Tesla stock falling more than 14% amid its worst single-day market cap loss in history. With the stock trading at about $284 per share, roughly in line with where shares ended the trading session the day after the election on Nov. 6, the Trump bump has essentially been erased from one of the most popular Trump trades. Now, with the stock essentially back at the same price it was seven months ago, investors are faced with evaluating the difference between a company's CEO buddying up with the president and that same CEO becoming the president's direct adversary. President Trump took to his social media platform, Truth Social, on Thursday afternoon to continue an ongoing feud with Tesla (TSLA) CEO Elon Musk, who recently left his post with the Department of Government Efficiency (DOGE). "Elon was 'wearing thin,' I asked him to leave, I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!," Trump wrote on Truth Social. In a separate post, Trump said the easiest way money in the budget is to "terminate Elon's Governmental Subsidies and Contracts." Tesla stock quickly extended losses and was down more than 12% just after Trump posted the comments. Read more about the ongoing feud here. Mortgage rates fell for the first time in a month, following a sharp move lower in Treasury yields. At around 6.9%, relatively high rates have depressed mortgage and homebuying activity throughout the critical spring season. Yahoo Finance's Claire Boston reports: Read more here. Palantir (PLTR) shares fell as much as 5% in afternoon trading as Semafor reported Republican privacy advocates in Congress are criticizing the Trump administration's work with the defense technology company. Multiple Congress members expressed privacy concerns regarding Palantir's collection of a "massive pool of government data on Americans." Read more here. Yahoo Finance's Pras Subramanian reports: Read more here. Stablecoin issuer Circle Internet Group (CRCL) shares are soaring just after the company began trading at $69. The stock quickly hit $92 after several trading halts. Shares are now up more than 200% from the companies IPO price of $31 per share. Read more here. The S&P 500 (^GSPC) came close to touching 6,000 on Thursday, its highest level since February. The broad-based index touched a session high of 5,999.70 after President Trump said he had a "very good phone call" with his Chinese counterpart, Xi Jinping, about trade. Stocks have roared back roughly 20%, or more than 1,000 points, from their April lows after President Trump's "Liberation Day" tariff policy reveal. The president has since rolled back the broad-based reciprocal tariff plan he unveiled on April 2, announcing a 90-day pause on many countries, a framework deal with the UK, and a temporary trade truce with China. Yahoo Finance's Jen Schonberger reports: Read more here. Trump Media and Technology (DJT) took a key step toward launching a publicly traded crypto investment product Thursday morning. The newly formed Truth Social Bitcoin ETF business trust filed its S-1 with the US Securities and Exchange Commission to register the new exchange-traded fund licensing Trump Media's social media brand. The ETF will trade on the NYSE Arca. Thursday's filing is a significant step for Trump Media's move into the cryptocurrency space. Shares of DJT were down just over 1% late Thursday morning. Read the full story here. President Trump posted on social media that he had a 'very good phone call' with Chinese leader Xi Jinping over trade. "I just concluded a very good phone call with President Xi, of China, discussing some of the intricacies of our recently made, and agreed to, Trade Deal," Trump wrote on Truth Social on Thursday morning. "The call lasted approximately one and a half hours, and resulted in a very positive conclusion for both Countries," he added. Trump said each country's respective teams will be meeting shortly at a location to be determined. The president also said there "should no longer be any questions respecting the complexity of Rare Earth products." The issue of rare earth minerals, crucial components for manufacturing, has come to the forefront in recent weeks as China has made moves to restrict their exports to the US, in retaliation against US trade policy. This week, a group representing US auto suppliers called on Wednesday warned that the issue could quickly disrupt auto parts production Read more here. Tesla (TSLA) stock fell more than 5% on Thursday, extending declines from the previous session following an increasingly public policy blowout between President Trump and Tesla CEO Elon Musk "Call your Senator, Call your Congressman, Bankrupting America is NOT ok! KILL the BILL," Musk posted on X on Wednesday. Musk added, "If the massive deficit spending continues, there will only be money for interest payments and nothing else!" EV tax credits could also be at risk after a report from Bloomberg suggests that Musk's new tack to destroy the bill comes after his lobbying to save the tax credits was unsuccessful. Amazon (AMZN) stock gained as much as 2% on Thursday morning after Chinese state media said President Trump and Chinese leader Xi Jinping spoke on Thursday, at the request of the US president. Amazon, which sells many products sourced in China, rose following the announcement. US stocks opened higher on Thursday after Chinese media reported a conversation between President Trump and Chinese leader Xi. This raised investor hopes that the two countries could be coming closer to a lasting trade agreement. The Dow Jones Industrial Average (^DJI) was little changed, while the S&P 500 (^GSPC) rose slightly. The tech-heavy Nasdaq Composite (^IXIC) also gained 0.2%. Chinese state media said Trump and Chinese leader Xi Jinping spoke on Thursday at the US president's request. Tesla (TSLA) stock slumped more than 3% in premarket trading as CEO Elon Musk continued his public feud with policymakers over President Trump's tax and spending bill. "Call your Senator, Call your Congressman, Bankrupting America is NOT ok! KILL the BILL," Musk posted on X on Wednesday. Some have speculated that these outbursts may in part have to do with Musk's concern that Congress will do away with the federal EV tax credit, which helped the company by making its cars more affordable to consumers. Though Musk has also downplayed Tesla's reliance on the tax credit in the past. Yahoo Finance's Pras Subramanian reports: Read more here. Weekly claims for unemployment benefits hit their highest level in more than seven months during the final full week of May while the number of Americans filing for unemployment insurance on an ongoing basis continued to hover near its highest level in nearly four years as the US labor market continues to show signs of slowing. Data from the Department of Labor released Thursday morning showed 247,000 initial jobless claims were filed in the week ending May 231, up from 239,000 the week prior and above economists' expectations for 235,000. Meanwhile, 1.904 million continuing claims were filed, down slightly from 1.907 million the week prior and near the highest level seen since November 2021. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs. Silver surged to its highest level since February 2012, rising about 4% to above $36 an ounce on Thursday morning. Gold also rose 0.5% as demand for the metals remained strong. Bloomberg reports: Read more here. As millions of people flooded into the stock market over the past few years, understanding of the things that move markets seems to have made noticeable progress. Not, however, for bonds, notes Yahoo Finance's Hamza Shaban: Read more here in today's Morning Brief. Earnings: Broadcom (AVGO), DocuSign (DOCU), Lululemon (LULU), Cracker Barrel (CBRL), Duluth Trading (DLTH), Land's End (LE), Petco (WOOF), Rubrik (RBRK), Victoria's Secret (VSCO) Economic data: Initial jobless claims (week ending May 31); Continuing claims (week ending May 24); Challenger job cuts (May); Nonfarm productivity (first quarter final); Unit labor costs (first quarter final) Here are some of the biggest stories you may have missed overnight and early this morning: Bonds are 'boring' — but they're critical to focus on right now US plans wider China tech curbs targeting subsidiaries 401(k) savings rate hit a record in first quarter: Fidelity US business optimism slumps in 'clear pivot' from Trump election Tesla: Musk may be changing his tune on EV tax credits Trump tariffs: China's rare-earth broadside hits its target Tide maker Procter & Gamble is slashing 7,000 jobs Amazon tests humanoid robots to replace delivery workers: Report Procter & Gamble (PG) said Thursday it will cut 7,000 jobs — or around 6% of its global workforce — as it grapples with rising tariff-related costs and shifts in demand from penny-watching shoppers. The consumer products giant's two-year restructuring plan also calls for the dropping of certain product categories and brands, Reuters reported. Shares in P&G were little changed in premarket trading as investors assessed the news from the world's largest consumer goods company. Yahoo Finance's Brian Sozzi reports: Read more here. Here are some top stocks trending on Yahoo Finance in premarket trading: Tesla (TSLA) stock fell over 1% in premarket trading on Thursday following CEO Elon Musk's latest attack on President Trump's tax bill. Musk said: "Call your Senator, Call your Congressman, Bankrupting America is NOT ok! KILL the BILL," Musk posted on X. PVH Corp (PVH), the owner of designer brand Calvin Klein, stock dropped 8% before the bell after cutting its profit outlook for the year, citing weakness in the US, China and tariffs. Zac Coughlin, Chief Financial Officer, said, 'We are reaffirming our revenue guidance for the year but are decreasing our outlook for profitability and earnings per share to reflect that backdrop and the current performance of our business." Robinhood (HOOD) stock rose 1% following Bank of America (BAC) saying the online brokerage is a "prime candidate" to enter the S&P 500 Index in the rebalancing set to be announced Friday. Broadcom (AVGO) stock rose 1.4% in premarket trading ahead of second-quarter earnings report, due for release later today.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store