Updated from 6:42 a.m. EDT.
Here are 10 things you should know for Friday, May 30:
1. -- U.S. stock futures were trading lower Friday ahead of U.S. spending data.
European stocks were mixed. Asian shares ended the session mostly to the downside. Japan's Nikkei 225 declined 0.3%.
2. -- The economic calendar in the U.S. on Friday includes personal income and personal spending for April at 8:30 a.m. EDT, Chicago PMI for May at 9:45 a.m., and the final University of Michigan Sentiment Index for May at 9:55 a.m.
3. -- U.S. stocks on Thursday rose despite disappointing home sales. Jobless claims fell more than expected, while investors overlooked a poor result for first-quarter GDP.
The Dow Jones Industrial Average gained 0.39% to close at 16,698.68, while the Nasdaq rose 0.54% to 4,247.95. The S&P 500 added 0.54% to 1,920.03.
4. -- Shelly Sterling reached an agreement late Thursday to sell the Los Angeles Clippers to former Microsoft (MSFT) CEO Steve Ballmer for $2 billion. It would be a record deal if approved by the NBA.
According to The Associated Press, Ballmer and the Sterling Family Trust now have a binding agreement. The deal now must be presented to the NBA.
Shelly Sterling negotiated the sale after her husband, Donald Sterling, made racist remarks that were made public. Donald Sterling must also approve the final agreement as a 50% owner.
Donald Sterling's attorney said that won't happen. "Sterling is not selling the team," said his attorney, Bobby Samini. "That's his position. He's not going to sell."