by Calculated Risk on 6/02/2024 06:15:00 PM

Weekend:
• Schedule for Week of June 2, 2024

Monday:
• At 10:00 AM ET, ISM Manufacturing Index for May. The consensus is for the ISM to be at 49.7, up from 49.2 in April.

• Also at 10:00 AM, Construction Spending for April. The consensus is for a 0.2% increase in construction spending.

• Late: Light vehicle sales for May. The consensus is for light vehicle sales to be 15.9 million SAAR in May, up from 15.7 million in April (Seasonally Adjusted Annual Rate).

From CNBC: Pre-Market Data and Bloomberg futures S&P 500 are up 4 and DOW futures are up 27 (fair value).

Oil prices were down over the last week with WTI futures at $76.85 per barrel and Brent at $81.00 per barrel. A year ago, WTI was at $72, and Brent was at $76 - so WTI oil prices are up about 7% year-over-year.

Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at $3.50 per gallon. A year ago, prices were at $3.54 per gallon, so gasoline prices are down $0.04 year-over-year.