Stock futures were higher on Monday, July 3, in what looked to be a quiet, shortened trading session ahead of the Independence Day break.

S&P 500 futures rose 0.31%, Dow Jones Industrial Average futures climbed 0.31%, and Nasdaq futures were up 0.34%.

U.S. stocks closed June on a mixed note, with the S&P 500 and Dow Jones Industrial Average both notching new records during the month while the Nasdaq had its first negative month since October 2016. The S&P 500 gained 0.33% in June, while the Dow Jones Industrial Average rose more than 1%. The Nasdaq ended 0.9% lower, dragged by a flagging tech sector.

Volume is expected to be light on Monday with trading desks likely operating on a shoestring staff ahead of the break. The New York Stock Exchange will close early at 1 p.m. ET on Monday and will be closed all Tuesday. Operations will resume as normal on Wednesday, July 5.

Activity likely won't pick up on Wall Street until after the July 4 break when investors turn their focus to the U.S. jobs report for June. The nonfarm payrolls report, one of the most closely watched data points of any month, will be released Friday, June 7.

The U.S. economy is expected to have added 176,500 jobs in June, according to analysts surveyed by FactSet. Roughly 138,000 jobs were added to the U.S. economy in May. The unemployment rate is anticipated to have held at 4.3%, while hourly earnings are expected to increase 0.3% month on month.

European stocks were rising on Monday while Asian shares finished the session with gains following a survey that showed Japan's manufacturing outlook improving.

The PMI Manufacturing Index for June will be released Monday at 9:45 a.m., the ISM Manufacturing Index for June at 10 a.m., and a construction spending report for May at 10 a.m.

Tesla Inc. (TSLA) - Get Report  CEO Elon Musk said Monday the company's $35,000 Model 3 had passed regulatory production requirements. In a series of tweets, the CEO said the vehicle's "handover party" for the first 30 customers would be July 28, and that the car manufacturer would be producing 20,000 Model 3s per month by December.

Tesla shares closed at $361.61 on Friday, extending a three-month gain to 29.94% and pushing the company's market value to about $60 billion. Shares gained 2.18% in premarket trading on Monday.

Construction giant Caterpillar Inc. (CAT) - Get Report  may face new woes in an ongoing probe by federal authorities. Investigators believe the company failed to submit necessary export filings in a possible attempt to skirt taxes, sources told the Wall Street Journal. The findings are preliminary, the Journal noted.

The stock slipped 0.43% to $107 in premarket trading on Monday.

Bankrate Inc. (RATE)  agreed to be acquired by data company Red Ventures for $14 a share. The transaction has an enterprise value of $1.4 billion.

Footlocker (FL) - Get Report is the biggest upward mover in premarket trading Monday, rising 7.55% after taking a 36% dive since May. The stock fell in mid-May after a lackluster earnings report, followed by news that Nike (NKE) - Get Report would be partnering with Amazon (AMZN) - Get Report .

Crude oil prices were higher on Monday, paring some of its losses in recent weeks due to global oversupply and stubbornly high production. Crude reached its lowest level in 10 months on Wednesday, June 21. After 23 weeks of steady gains in the number of operating oil and gas rigs in the United States, the trend reversed last week as the total number fell by one.

West Texas Intermediate crude was up 0.70% to $46.39 early Monday.

The dollar was gaining against major currencies Monday, after ending the second quarter down 5.6% for the year, marking the largest two-quarter decline in six years, according to the Journal. The dollar fell against the euro for six days last week, facing increasing downward pressure as European and Canadian bankers signaled tightening monetary policy. 

U.S. automakers, such as General Motors Co. (GM) - Get Report  and Ford Motor Co. (F) - Get Report , will release sales for June throughout the day. According to analysts at automotive research firm Kelley Blue Book, car sales in June are expected to fall 4% from a year earlier to 1.46 million.