US jobs steady, stocks rally: Wall Street shrugs off trade fears and Musk-Trump row
NEW YORK, June 7 — Major stock indexes pushed higher yesterday as data showed the US labour market is resilient despite uncertainty over President Donald Trump's tariffs, while upcoming US-China talks added to hopes of easing trade tensions.
Tesla stocks regained some ground after plunging Thursday following a stunning public row between the company's billionaire boss Elon Musk and Trump.
A below-par reading on private hiring this week raised worries about the labour market and the outlook for the US economy ahead of a Labour Department jobs report, a key piece of data used by the Federal Reserve as it decides whether to adjust interest rates.
But the report showed hiring in the world's largest economy came in at 139,000 last month, above market expectations.
The figure indicates that the US employment market is relatively healthy despite the jolts to financial markets, supply chains and consumer sentiment this year as Trump announced successive waves of tariffs.
'There was concern that the labour market was buckling under the pressure of tariffs and weaker economic growth. However, the May report suggests that the labour market is softening, not falling off a cliff,' said Kathleen Brooks, research director at trading platform XTB, in a note.
'The price action suggests that the market is not taking these risks too seriously, that they do not see a recession in the future and that investors still think that corporate earnings growth will be strong.'
The state of the jobs market is critical given how important consumer spending is to the overall economy, said eToro US investment analyst Bret Kenwell.
'While it may not be firing on all cylinders, it's far from showing signs of a major breakdown.'
Wall Street mounted a strong comeback, and Paris and London stocks closed higher.
Frankfurt was near-flat after sentiment was knocked by the Bundesbank warning Germany could face two more years of recession if a trade war with the United States escalates sharply.
For now, however, the eurozone economy is showing signs of resilience, with official data yesterday indicating it expanded at a significantly faster pace than previously estimated in the first three months of the year.
The EU's data agency said the 20-country single currency area recorded growth of 0.6 per cent over the January-March period from the previous quarter, up from the 0.3-per cent figure published last month.
US-China talks
Equity markets were also buoyed as Trump announced US officials would meet a Chinese team in London on Monday to discuss a 'trade deal' on both sides.
'The meeting should go very well,' Trump added in a Truth Social post, a day after speaking with Chinese President Xi Jinping on the phone.
Investors are hopeful that high-level engagements could bring an easing of tensions following Trump's 'Liberation Day' global tariff blitz that hit Beijing particularly hard.
While a stunning public row between the US leader and his former adviser Musk sent Wall Street into the red Thursday, all three major US indexes closed higher yesterday.
Shares in Musk's electric vehicle company Tesla rose 3.7 per cent after tanking a day prior.
The president had threatened Musk's multibillion-dollar government contracts and Tesla shares plummeted — wiping more than S$100 billion (RM422.8 billion) from the company's value.
Oil prices rose yesterday, driven by the jobs data and nevertheless by prospects for a US-China trade detente, said Mark Bowman, an analyst at ADM Investors Services. — AFP
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VenHub Launches 24/7 AI-Powered Smart Store at Metro Transit Center at LAX, Leading the Next Era of Autonomous Retail in Travel and Transportation
[email protected] Los Angeles, California - Newsfile Corp. - June 6, 2025 - VenHub Global, Inc. ("VenHub" or the "Company"), a leader in fully autonomous, AI-powered retail, unveiled its flagship Smart Store at the LAX/Metro Transit Center at Los Angeles International Airport. The Smart Store brings secure, frictionless, and fully automated retail convenience to millions of travelers and transit riders moving through Los Angeles each in anticipation of the 2026 FIFA World Cup and 2028 Olympic and Paralympic Games, the installation places VenHub at the forefront of smart retail infrastructure as Los Angeles prepares to welcome the world."Retail should work for people, not the other way around," said Shahan Ohanessian, Founder & CEO of VenHub. "Launching our Smart Store at the Metro Transit Center at LAX represents much more than a store opening. It's about giving people access to what they need, exactly when they need it, with safety and simplicity built into every interaction. Whether you're a traveler heading to the terminal, a commuter catching a connection, or a parent needing essentials after hours, VenHub is ready to serve. Always open, always secure, and always designed around the customer."Ohanessian added, "Being first is not just a milestone, it's a responsibility. As leaders in unattended retail, it's our obligation to keep pushing the edge of what's possible. With over $300 million in Smart Store pre-orders across the U.S. and growing demand from enterprise partners around the world, we are scaling our production capacity to meet this extraordinary is a fully autonomous, AI-powered Smart Store that can be installed in under seven days and operates 24/7 without staff. Using robotics, machine vision, and IoT, each unit delivers a safe, secure, and lightning-fast shopping experience - completing transactions in as little as 90 seconds. Whether fixed or mobile, VenHub's Smart Stores intelligently adapt inventory and merchandising based on location, customer behavior, and time-of-day demand, setting a new standard for access, convenience, and future-ready view an enhanced version of this graphic, please visit:This launch marks VenHub's first deployment in partnership with LA Metro, with additional locations already being planned across Southern California. These Smart Stores will serve transit-connected communities across the region, offering a retail experience that is fast, secure, and completely contactless, available 24 hours a day, 365 days a year."Metro is committed to enhancing every step of our customers' journeys, and that includes the moments they spend in our stations," said Jennifer Vides, Chief Customer Experience Officer. "Partnering with VenHub at the LAX/Metro Transit Center station reflects our focus on innovation and our Board's directive to explore retail and other station-based amenities that improve the overall rider experience. VenHub's 24/7, AI-powered smart retail technology is a forward-thinking solution that adds convenience, engagement, and value to our customers as they travel the Metro system."This partnership underscores the power of combining public infrastructure with private innovation to elevate everyday convenience for millions of June 6, VenHub welcomed the public, government officials, and partners to its grand opening at the Metro Transit Center at LAX. Attendees interacted with the Smart Store, placed live orders, explored the robotics system in action, and met the team behind the view this video? Visit:VenHub is building the retail infrastructure of the future. With a bold vision to modernize access to goods and services, VenHub delivers scalable, autonomous Smart Store technology across the U.S. and beyond. From major metro regions to rural towns, fixed units to mobile deployments, VenHub brings automation, intelligence, and convenience wherever people need AI-powered Smart Stores operate 24/7 with no on-site employees, adapting dynamically to customer behavior, local conditions, and operator settings. With a focus on safety, speed, and scalability, VenHub is setting the new global standard for retail that never sleeps. Following its Southern California expansion, VenHub is preparing deployments for transit hubs and commercial sites in major cities across North America, the Middle East, and learn more, visit:VenHub, a division of VenHub Global, Inc. ("VenHub" or the "Company"), may make forward-looking statements regarding future events or the future financial perrmance of the Company in press releases, presentations, conference calls, or other"believes," "expects," "anticipates," "foresees," "forecasts," "estimates," "intends," "plans," "targets," or other words conveying future outcomes or forward-looking statements involve certain risks, uncertainties, and assumptions that are difficult to predict and beyond the Company's control. Actual results could differ materially from those expressed or implied by the forward-looking statements as a result of various factors, including but not limited to changes in general economic conditions, the Company's ability to execute its business strategy, competitive pressures, unanticipated manufacturing or supply chain issues, compliance with regulatory requirements, and other risks detailed in the Company's public filings with the Securities and Exchange in these forward-looking statements should be regarded as a representation by VenHub or its management that the Company's objectives or plans will be achieved. VenHub undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable Barry, Alliance Advisors604-997-0965 The issuer is solely responsible for the content of this announcement. About VenHub Global Inc.
