Investors are cheering signs of a potential truce in the acrimonious feud between President Trump and Elon Musk, and a monthly jobs report which topped estimates.

President Trump has threatened to end government subsidies and contracts to Elon Musk’s companies, with Tesla facing billions of dollars in annual losses without various state and federal programs. Musk escalated the feud with a series of posts on X,

Marko Kolanovic predicts a stock market pullback could be in the cards.Kolanovic thinks Tesla's decline on the Trump-Musk feud could be among the catalysts that spark a decline. Other problems he sees for the market include high valuations and economic uncertainty.