In the coming week on Wall Street, investors will focus on economic data, including monthly retail sales and industrial production data, for clues on the Federal Reserve’s next monetary policy decision in June.
Earnings reports are also due next week from companies including Walmart Inc, Home Depot Inc, Cisco Systems Inc, Target and Deere.
Next week, US Treasury Secretary Janet Yellen will discuss the debt ceiling with JPMorgan Chase CEO Jamie Dimon, Citigroup CEO Jane Fraser and other board members of the Bank Policy Institute in Washington.
The Congressional Budget Office warned Friday that the US faced a “significant risk” of defaulting on payment obligations within the first two weeks of June without raising the government’s $31.4 trillion debt ceiling.
US stocks fell on Friday after a report showed US consumer confidence fell to a six-month low in May. The S&P 500 fell 0.16%. The Dow Jones Industrial Average lost 0.03%. The Nasdaq Composite lost 0.35%.
The US dollar rose to 135.70 Japanese yen from 134.54 on Friday. The euro fell from $1.0918 to $1.0853.
The yield on the 2-year Treasury rose 8.3 basis points to 3.989% on Friday.
Brent crude for July delivery fell 81 cents to $74.17 a barrel on Friday. The benchmark US crude for June delivery fell 83 cents to $70.04 a barrel.
Gold for delivery in June fell 70 cents to $2,019.80 an ounce on Friday. Silver for delivery in July declined 27 cents to $24.15 an ounce.
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