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.