What to Watch Friday: Auto Sales, Manufacturing Data, Oil Rig Count

Heading into the long holiday weekend, investors await a slew of economic data on Friday, July 1. Motor vehicle sales for June will be released throughout the day. Analysts expect auto sales to dip to 17.3 million, compared to 17.5 million in May. At 10am Eastern, the ISM manufacturing index for June is released. That's expected to rise to 51.5 - levels over 50 signal a growing manufacturing sector. Also at 10am, construction spending for May is unveiled, which is set to rise 0.6 percent. At 1pm, the Baker-Hughes (BHI) rig count for this week is released. Last week, U.S. rig counts dropped by 7 to 330. TheStreet's Scott Gamm reports from Wall Street.