In the week ahead on Wall Street, focus of investors will be on OPEC meeting and US economic data including, factory orders, consumer credit and initial jobless claims.
The energy market may see some potential ripples in the wake of the 2-day OPEC meeting, starting Sunday.
Weak economic data from China and recession worries are weighing on crude oil prices, which fell 11% in May.
On Friday, Brent crude for August delivery rose $1.85 to $76.13 a barrel. US crude oil benchmark for July delivery rose $1.64 to $71.74 a barrel.
Next week will also see earnings reports of following companies– GitLab, Science Applications, Ferguson, J. M. Smucker, Brown-Forman, GameStop, Campbell Soup, DocuSign, Vail Resorts and Signet Jewelers.
In other events, Cisco will hold its five-day Cisco Live! IT event in Las Vegas.
StepStone Group will host an investor day in New York City on June 6. Toronto-Dominion Bank and DLocal will hold investor day events on June 8.
On Friday, US stocks closed higher after a strong report on the labour market. The S&P 500 jumped 1.5%. The Dow Jones Industrial Average rallied 701 points, or 2.1%. The Nasdaq composite gained 1.1%.
The yield on the 10-year treasury climbed to 3.69% from 3.60% late Thursday. The 2-year treasury yield jumped to 4.50% from 4.34%.
Data on Friday showed US job growth accelerating in May, even as a jump in the unemployment rate suggested labor market conditions were easing.
The US dollar on Friday rose to 139.94 Japanese yen from 138.86. The euro fell to $1.0712 from $1.0762.
Gold on Friday for August delivery fell $25.90 to $1,969.60 an ounce. Silver for July delivery fell 24 cents to $23.75 an ounce.
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Updated: 04 Jun 2023, 11:00 PM IST