The major US stock indices are ending the day lower led by the NASDAQ index which declined by 2.4%
For the shortened trading week, the indices were down 3 of the 4 trading days. After snapping a 7 week decline in the S&P and NASDAQ index ended 8 week decline in the Dow industrial average, the major indices all were lower this week.
The final numbers are showing:

Dow industrial average fell -348.58 points or -1.05% to 32899.71
S&P index fell -68.26 points or -1.63% to 4108.55
NASDAQ index fell -304.15 points or -2.47% to 12012.74
Russell 2000 fell -14.62 points or -0.77% to 1883.05

For the trading week

Dow industrial average fell -0.94%
S&P index fell -1.19%
NASDAQ index fell -0.98%
Russell 2000 index fell -0.25%

Technically, the NASDAQ index after trading below its 200 hour moving average (green line in the chart below) earlier in the session, is closing above the declining level (currently at 11971.16). Traders will be eyeing that moving average level next week as a barometer for bullish and bearish.

NASDAQ index closes just above its 200 hour moving average

Both the S&P and the Dow industrial average are also above their 200 hour moving averages:

For the S&P, the index is at 4072.43
For the Dow industrial average 200 hour moving average is currently at 32581.47

Next week, those moving averages will be in play and be used to define the short/intermediate-term bias. Stay above is more bullish. Move below is more bearish.

Next week, US CPI and Canada employment highlight the economic releases, while interest rate decisions in Australia and the EU are key central bank. Below are the major releases and events for next week’s trading:Tuesday, June 7Reserve Bank of Australia’s interest rate decision at 12:30 AM ET/430 GMT. The reserve Bank of Australia expected to raise rates by 25 basis points although there are others who expect up to 50 basis points. A total of 22 of 35 analysts look for a 25 basis point hike while 11 look for 40 basis points. There is one analyst looking for 50 basis points and 1 that is looking for no change at all. Of the big 4 Australian banks, ANZ and WPAC are calling for 40 basis points, while CBA and NAB are looking for 25 basis points. Canada Ivey purchasing managers index at 10 AM ET/1400 GMT. The Ivey PMI is expected to come in at 64.3 vs. 66.3. Historically the PMI index is very volatile. Be awareThursday , June 9ECB rate decision. 7:45 AM ET/1145 GMT. The ECB will keep rates unchanged at 0.0%. The ECB has telegraphed that until the asset purchase program is complete in June, they will not move rates. The expectations are for a 25 basis point hike in July. Year and estimates are up to 125 basis points. There are some members looking for 50 basis points to combat the higher than expected CPI inflation which top out at 8.1% this month. At 8:30 AM, ECB’s Lagarde will have her traditional press conferenceUS initial jobless claims. 8:30 AM ET/1230 GMT. The estimate is for 205K after the 200K increases weekBank of Canada Governor Macklem will speak. The Bank of Canada raise rates by 50 basis points this week. There is no press conference after the decision. As a result this will be the first opportunity for Macklem to speak about the rate hikeFriday, June 10Canada employment change. 8:30 AM ET/1230 GMT.  Employment change expected at 25.5K vs 15.3K last month.  The unemployment rate is expected to remain unchanged at 5.2%US CPI.  8:30 AM ET/1230 GMT. Month-to-month 0.7% vs. 0.3%. Year on year 8.2% vs. 8.3%. Core 0.5% vs. 0.6% last month. Core year on year 5.9% vs. 6.2% last month.Michigan consumer sentiment preliminary. 10 AM ET/1400 GMT. 56.9 vs. 58.4 last monthAlso next week, the US treasury will auction off $44 billion of 3 year notes on Tuesday, $33 billion of 10 year (9 year 11 month) notes on Wednesday, and $19 billion of 30 year bonds (29 year and 11 month) on Thursday 

The price of WTI crude oil futures are settling at $118.87. That’s up $2 or 1.71%. The high price today reached $119.42. The low price extended to $115.23. One week ago today, the price closed at $115.07. That puts the gain for the week at $3.80 or 3.3%. The high for the week reached $119.98 on Monday. The low for the week extended to $111.20. That was a yesterday after the OPEC+ decision. Working in favor of the upside was China reopening along with continued low inventories. The weekly inventory data in the US this week showed a larger than expected to draw of -5.06 million barrels this week. This despite record high prices at the pump in the US. Crude oil stretches above resistance at $117.84

According to state n crude oil production crude oil production ews agency,

Iraq oil production will increase to 4.58 million barrels per day as of July following the OPEC+ decision

Oil production is currently at 4.44 million barrels per day

Current Iraq oil production

Looking at the global crude oil production, below is the list of top 14 oil producers:

Crude oil is trading at $118.60. That’s off the high of $119.40. The high price for the week reached $119.96