Market Rollercoaster: U.S. Stocks Bounce Back, Tesla Tanks Amid Musk-Trump Clash

Hang on tight, folks! U.S. stock indices are clawing their way back up after Presidents Trump and Xi vowed to start talking trade again. Meanwhile, Tesla's shares took a nosedive following a fiery feud between Elon Musk and Trump.

Thursday's trading session was a wild ride, with U.S. stocks showing some gains thanks to a glimmer of hope in U.S.-China trade talks. The Dow Jones Industrial Average managed to squeeze out a 60-point gain, up 0.15%, while the S&P 500 barely edged up by 0.02%. Over at the tech-heavy Nasdaq, it was a nail-biter with just a 0.01% increase.

The market's been a rollercoaster as traders grappled with the news that Trump and Xi had what Trump called a "very good phone call." Trump hit up social media to brag that they'd smoothed over some rough patches, particularly around those super-important rare earth minerals.

But wait, there's more! Trump's tweet also spilled the beans that the U.S. and China, the world's trading titans, are gearing up for face-to-face talks soon. Every move these two make sends shockwaves through their economies and the global markets.

Tesla down after Musk's break with Trump

Buckle up, Tesla fans! The electric car giant's shares plummeted 7.89% on Thursday after CEO Elon Musk and President Trump went head-to-head in a public spat. Musk, who used to be a key advisor to Trump, went off on the President's latest budget proposal, calling it a "disgusting abomination."

I’m sorry, but I just can’t stand it anymore.

This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination.

Shame on those who voted for it: you know you did wrong. You know it.

Trump didn't take this lying down, expressing "deep disappointment" and pointing out that Musk knew the budget details before he went off on his rant. Tesla had been riding high on hopes that Musk's White House connections would lead to sweet deals for the company. After Trump's election win, Tesla's stock soared, with everyone betting on regulatory and funding perks for Musk's projects.

But now, those dreams are crashing down, with Tesla's stock tumbling from a high of $479.86 in December to a current low of $303.99. Musk was a big Trump supporter since the election, throwing millions at his campaign and even heading up the not-so-popular Department of Government Efficiency in the White House until he bailed on May 28.