Updated from 5:30 a.m. ET
 
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Here are five things you must know for Monday, July 3:
 
1. -- U.S. stock futures were higher on Monday, July 3, in what's expected to be a day light on volume as traders squeeze in an extra off-day ahead of the Independence Day holiday in the U.S. on Tuesday, July 4.
 
Stock markets in the U.S. on Monday will be closing early at 1 p.m. ET.
 
When traders get back to their desks on Wednesday, July 5, the focus likely will shift to U.S. jobs data, with the U.S. nonfarm payrolls report for June scheduled for release on Friday, July 7. The U.S. economy is forecast to have added 176,500 jobs in June, according to economists surveyed by FactSet, up from about 138,000 jobs added in May.
 
European stocks were rising on Monday while Asian shares finished the session with gains following a survey that showed Japan's manufacturing outlook improving.
 
Stocks in the U.S. on Friday, June 30, closed mixed. For the month, the S&P 500 gained 0.33%, while the Dow Jones Industrial Average rose more than 1%. The Nasdaq ended 0.9% lower, its first negative month since October 2016, as the technology sector had a rough time in June.
 
2. -- The economic calendar in the U.S. on Monday includes the PMI Manufacturing Index for June at 9:45 a.m., the ISM Manufacturing Index for June at 10 a.m., and Construction Spending for May at 10 a.m.
 
3. -- Tesla Inc.'s ( TSLA)  Model 3 has passed regulatory production requirements two weeks ahead of schedule and the first cars will be on roads by July 28, Tesla CEO and founder Elon Musk said Monday.
 
In a series of tweets, Musk said the Model 3 should begin production on Friday, July 7.
 
Musk said 30 customers will receive cars by July 28, and with production growing there should be 100 Model 3s out in August and more than 1,500 in September.
 
Musk added that it "looks like we can reach 20,000 Model 3 cars per month' in December.
 
With a price starting at around $35,000, the Model 3 is Tesla's cheapest model.
 
Tesla was rising more than 3% in premarket trading on Monday.
 
 

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