Updated from 7:03 a.m.
NEW YORK (TheStreet) -- Here are 10 things you should know for Monday, June 1:
1. -- U.S. stock futures were rising as investors look to personal income and manufacturing data at the start of a new trading month.
European stocks were sagging a bit as the unresolved Greek debt load countered stronger manufacturing data in Spain and Italy. British American Tobacco (BTI) announced a buyout of TDR.
Asian stocks were jumping, as the Shanghai Composite was roaring ahead by 4.7%. This year, stocks in Shanghai are up almost 50%. China's Shenzhen index was also up 4.9%. Japan's Nikkei was rising as well.
2. -- The economic calendar in the U.S. on Monday includes personal income and outlays data at 8:30 a.m., the PMI manufacturing index at 9:45 a.m., the ISM Manufacturing index at 10 a.m., and construction spending numbers at 10 a.m.
3. -- U.S. stocks on Friday locked in gains for the month, although they were lower for the day.
4. -- Big-box membership store Costco Wholesale (COST) may already be the largest retail seller of organic foods in the U.S., beating out sales at Whole Foods Market (WFM) and other retailers. A report from BMO Capital Markets said that Costco's organic sales, at about $4 billion, will exceed the $3.6 billion in organic food sales at Whole Foods this year.
Costco is the second-biggest U.S. retail store, after Wal-Mart (WMT).
In premarket trading, Costco stock was rising by 0.44%. Whole Foods shares were rising by 0.82%.
5. -- Chinese stocks had their biggest day in two and a half years. The CSI300 index, which tracks the biggest stocks on the Shanghai and Shenzhen indices, rose by 4.9%. The CSI300 also fell by 6% in a single day last week, so this jump could signal continued optimism after a price cut.
6. -- The British government is selling down its financial-crisis-era stake in Lloyds Banking (LYG). The U.K. bank, which turned a profit last year, is still about 19% government-owned. The British government still owns about an 80% stake in the Royal Bank of Scotland (RBS).
In premarket trading, Lloyds' ADRs were steady.
7. -- Oil prices were dropping somewhat, as Brent crude oil was trading for more than $65 a barrel and U.S. West Texas Intermediate crude oil was selling for less than $60 a barrel.
Next week's OPEC meeting will be closely watched and will likely impact the price of oil substantially.
8. -- The American Society of Clinical Oncology annual meeting in Chicago is featuring announcements about new drugs in the pipeline and sales information about currently available drugs. TheStreet's Adam Feuerstein is reporting on Johnson & Johnson (JNJ), smaller company Oncothyreon (ONTY) and "smart bomb" drug maker ImmunoGen (IMGN).
9. -- Amazon (AMZN) may expand its offerings to private-label grocery products, according to reports. Amazon already offers some of its own products under the Elements brand name. The expansion into private-label products will make Amazon look a bit more like a traditional grocery store.
In premarket trading, Amazon stock was up 0.4%.
10. -- On the last day of May, the major indices cemented gains for the month. The S&P 500 closed with monthly gains of 1.1%, its best monthly performance since February. The Dow Jones Industrial Average added 1%, and the Nasdaq climbed 2.6%. At least for 2015, the "sell in May and go away" strategy didn't get off to a great start.