What to Watch Friday: Consumer Sentiment and Baker Hughes Rig Count

On Friday June 10, investors will be watching two key economic indicators. First, at 10am Eastern, the Consumer Sentiment Index for preliminary June is released. Analysts expect a reading of 94.5, a notch lower than the prior reading of 94.7, which was the highest level in a year. At 1pm Eastern, the Baker Hughes (BHI) rig count for the week is released. Last week, U.S. rig count rose by nine to 325, that's the biggest increase since December of 2015. This data point tends to move oil markets. On Thursday, prices for West Texas Intermediate settled at $50.66 a barrel. The commodity is up 22 percent since the start of the year. TheStreet's Scott Gamm reports from Wall Street.