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ADP payrolls data leads calendar

Private-sector payrolls are the main item on today's agenda, though there are several lesser reports as well.

European service-sector data comes out early in the session, followed by weekly mortgage applications at 7 a.m. ET.

Payrolls company ADP will release its employment number for May at 8:15 a.m. ET. Economists forecast a gain of 220,000 jobs, up from 200,000 in the previous month.

The trade deficit for April follows at 8:30 a.m. ET and is expected to widen to $41.3 billion from $40.4 billion in the previous month.

The Institute for Supply Management's service-sector index at 10 a.m. ET is forecast to come in at 55.5 versus a reading of 55.2 in April.

Weekly crude-oil inventories follow at 10:30 a.m. ET, and the Federal Reserve will release its Beige Book survey of economic conditions at 2 p.m. ET.

Notable earnings include homebuilder Hovnanian Enterprises in the morning and apparel stock PVH in the afternoon.

Tomorrow's main events are the European Central Bank's monetary announcement, initial jobless claims, and retail same-store sales. The week concludes with monthly non-farm payrolls from the Labor Department on Friday morning.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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