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• S&P 500 closes just above 6,000 as Dow wipes out 2025 loss
  U.S. stocks closed sharply higher on Friday, with the...

  U.S. stocks closed sharply higher on Friday, with the Dow Jones Industrial Average erasing its 2025 loss as investors weighed a stronger-than-expected jobs report.

  
  

  The Dow rallied 443.13 points Friday, or 1%, to end at 42,762.87.

  
  

  The S&P 500 gained 61.06 points, or 1%, to close at 6,000.36.

  
  

  The Nasdaq Composite climbed 231.50 points, or 1.2%, to finish at 19,529.95.

  
  

  Friday marked the first time since Feb. 21 that all three equities benchmarks closed in positive territory on a year-to-date basis, according to Dow Jones Market Data. The S&P 500 ended 2.3% below its record closing peak notched Feb. 19.

  
  

  The U.S. economy added 139,000 jobs in May while the unemployment rate remained unchanged at 4.2%, according to a report Friday from the Bureau of Labor Statistics. The pace of job growth slowed last month, but the total number of jobs created was stronger than Wall Street expected.

  
  

  All three major U.S. stock-market benchmarks booked back-to-back weekly gains, with investors appearing encouraged by President Donald Trump’s phone call this week with China’s leader Xi Jinping about trade. The Dow rose 1.2% for the week, while the S&P 500 advanced 1.5% and the technology-heavy Nasdaq rallied 2.2%.

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• Energy transition: Geothermal beckons producers
  Oil and gas producers in the Gulf Coast, Midcontinent and Rockies regions...
  Oil and gas producers in the Gulf Coast, Midcontinent and Rockies regions are uniquely positioned to leverage their existing infrastructure and drilling expertise for geothermal energy development. This opportunity arises from favorable geothermal gradients, robust power demand and established transmission networks, offering a route to diversify revenue and decarbonize operations.
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• Williams Cos. revives $2B in gas pipeline projects
  Williams Cos. has revived two natural gas pipeline projects from Pennsylvania...
  Williams Cos. has revived two natural gas pipeline projects from Pennsylvania to New Jersey and New York, totaling $2 billion, after recent discussions between the Trump administration and New York Gov. Kathy Hochul. The Northeast Supply Enhancement Project and the Constitution Pipeline were previously canceled due to permitting issues.
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• Trump and Xi had a “very good phone call
  President Trump said he spoke to Chinese President Xi Jinping—the first...
  President Trump said he spoke to Chinese President Xi Jinping—the first time since Trump’s inauguration in January—for about 90 minutes yesterday, and agreed to meet in the near future for trade talks. According to Trump, the two addressed the issue of rare earth metals, which China stopped exporting in April in response to Trump’s tariffs, though Beijing’s readout of the phone call did not mention rare earths. Trump said the call focused on trade and did not delve into matters concerning Iran, Ukraine, or Russia. A day before the call, Trump posted on social media that he liked Xi but that the Chinese leader was “EXTREMELY HARD TO MAKE A DEAL WITH!!!”
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• ☕️What Else is Brewing Friday Morning
  Procter & Gamble is cutting 15% of its non-manufacturing...
  Procter & Gamble is cutting 15% of its non-manufacturing workforce. The company that makes half the products at your local CVS or Walgreens announced it’s eliminating 7,000 roles as part of a restructuring. P&G said the cuts aren’t a cost-cutting measure, though earlier this year the company admitted it was considering cutting costs after it reported a decline in sales and lowered its annual outlook due to consumer uncertainty. As part of the restructuring, P&G reportedly plans to exit some product categories.
  
  The European Central Bank cut interest rates for the eighth time in the last year as the eurozone attempts to recover from the fallout of the US’ trade war.
  
  Kleenex parent company Kimberly-Clark is spinning off the tissue brand outside the US in a $3 billion deal with a Brazilian manufacturer.
  
  NBA team sponsorship revenue increased 8% this season to $1.62 billion, thanks to the growing use of jersey patches.
  
  Hooters abruptly closed more than 30 locations, calling it a “difficult decision” three months after filing for bankruptcy.
  
  TSA is researching haptic technology that would allow security agents to pat down passengers in virtual reality without physically touching them, 404 Media reported.
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