Thursday was marked by Durable Goods and Unemployment Claims figures. Orders for long-lasting U.S. manufactured goods surged in April on strong demand for transportation equipment and a range of other products, but continued weakness in business spending plans suggested the manufacturing rout was far from over. The Commerce Department said on Thursday orders for durable goods, items ranging from toasters to aircraft meant to last three years or more, jumped 3.4% last month after an upwardly revised 1.9% increase in March. Smaller increase by 0.3% was expected.

Separate report showed that in the week ending May 21, the advance figure for seasonally adjusted initial claims was 268,000, a decrease of 10,000 from the previous week's unrevised level of 278,000. The 4-week moving average was 278,500, an increase of 2,750 from the previous week's unrevised average of 275,750. There were no special factors impacting this week's initial claims. This marks 64 consecutive weeks of initial claims below 300,000, the longest streak since 1973.

Friday brought GDP and Consumer Sentiment figures. Real gross domestic product increased at an annual rate of 0.8% in the first quarter of 2016, according to the "second" estimate. With the second estimate for the first quarter, the decrease in private inventory investment was smaller than previously estimated. The increase in real GDP in the first quarter primarily reflected positive contributions from personal consumption expenditures (PCE), residential fixed investment, and state and local government spending that were partly offset by negative contributions from nonresidential fixed investment, exports, private inventory investment, and federal government spending.

Consumer confidence in the U.S. climbed less than forecast in May as Americans were a little less ebullient about the economy’s prospects in the run up to the presidential election, the University of Michigan’s report showed on Friday. Final index rose to 94.7 (estimate 95.4) from 89 in April. This was down from May preliminary reading of 95.8. Current conditions index, which takes stock of Americans’ view of their personal finances, climbed to 109.9, the highest since January 2007, from 106.7.

This week markets will be looking at:

CB Consumer Confidence (Tuesday 16:00)

ISM Manufacturing PMI (Wednesday 16:00)

ADP Employment Change (Thursday 14:15)

Unemployment Claims (Thursday 14:30)

Non-Farm Employment Change/Unemployment Rate (Friday 14:30)

Trade Balance (Friday 14:30)

ISM Non-Manufacturing PMI (Friday 16:00)