Wall Street week ahead: Spotlight on May jobs data, manufacturing reports

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ALSO READ: RBI Policy: Repo rate cut expectations pushed back to December quarterOn June 3 (Monday), data on the S&P flash US manufacturing PMI for May and ISM manufacturing for May will be released.TBA Auto sales data for May is also due on the same day.On June 4 (Tuesday), factory orders data for April will be declared.June 5 (Wednesday) will see the release of reports on ADP employment for May, ISM services for May, US productivity (final revision) for first quarter, US trade deficit for April, and S&P flash US services PMI for MayOn June 7 (Friday), a report on consumer credit for May and data on US employmenand unemployment for May will be released.Following companies are due to report quarterly earnings in the week ahead— GitLab, Science Applications, CrowdStrike, PVH, Hewlett Packard Enterprise, Bath & Body Works, Lululemon, Dollar Tree, Brown-Forman, Campbell Soup, and Five Below, Samsara, DocuSign, J.M. Smucker, and NIO.US stocks rallied on Friday after a report showed the Federal Reserve’s preferred inflation was flat.ALSO READ: OPEC to extend cuts till 2H; Crude oil seen at $70-$90 in 2024: Kaynat ChainwalaThe Dow Jones Industrial Average rose 574.84 points, or 1.51%, to 38,686.32, the S&P 500 gained 42.03 points, or 0.80%, to 5,277.51 and the Nasdaq Composite lost 2.06 points, or 0.01%, to 16,735.02.The yield on the 10-year Treasury fell to 4.50% from 4.55%.

The 2-year Treasury yield slipped to 4.87% from 4.93%.The US dollar rose to 157.28 yen from 156.84 Japanese yen. The euro gained to $1.0842 from $1.0837.The benchmark US crude oil for July delivery fell 92 cents to $76.99 per barrel on Friday.