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The Week Ahead: Jobs, Consumption Top Busy Week

Personal consumption, employment, the ISM manufacturing gauge, and auto sales are due as June gets going.

Jeremy Glaser: Welcome to The Week Ahead. Data will be on center stage during the holiday-shortened week. Personal consumption on Tuesday will provide a look not only at the state of the consumer but also a key inflation gauge.

Jobs will be in focus, too, with the May employment report on Friday. April had strong headline numbers, but as Morningstar's Bob Johnson pointed out, many of those jobs were added in low-wage sectors.

Concern has been building over the strength of the auto sector, so sales data on Thursday will be closely watched. Other data due includes the ISM index, construction spending, Fed Beige Book, Chicago PMI, and a trade balance update.

Earnings are mostly taking a breather for the week, but we still will have reports from Hewlett Packard Enterprise and retailers Dollar General and Lululemon.

Stay tuned to Morningstar for our take on these stories.