Monday: ISM Manufacturing Index, Auto Sales, Construction Spending

Note: Several sites list May auto sales on Tuesday - that appears incorrect. GM, Ford and others have already announced they will release results on Monday.

For some amusement, Jon Hilsenrath at the WSJ lists several of Fed Chairman Ben Bernanke's jokes today: Funnyman Ben Bernanke? You’ve Got to Be Kidding

A dozen years ago I was minding my own business teaching Economics 101 in Alexander Hall and trying to think of good excuses for avoiding faculty meetings. Then I got a phone call ...

From CNBC: Pre-Market Data and Bloomberg futures: the early S&P futures are up slightly and DOW futures are up 35 (fair value).

Oil prices have moved down recently with WTI futures at $91.42 per barrel and Brent at $99.94 per barrel.

• Schedule for Week of June 2nd

Monday economic releases:
• At 9:00 AM ET, the Markit US PMI Manufacturing Index for May. The consensus is for the index to be unchanged at 52.1.

• At 10:00 AM, ISM Manufacturing Index for May will be released. The consensus is for an increase to 51.0 from 50.7 in April. Based on the regional surveys, a reading at or below 50 is possible.

• Also at 10:00 AM, the Census Bureau will release Construction Spending for April. The consensus is for a 1.0% increase in construction spending.

• All day: Light vehicle sales for May. The consensus is for light vehicle sales to increase to 15.2 million SAAR in May (Seasonally Adjusted Annual Rate) from 14.9 million SAAR in April.