Most of today's big economic events occur overseas outside normal market hours.
The central banks of India and Australia will announce monetary policy early this morning. India could matter because of its size and because the country's market has surged recently on reform hopes. Australia provides clues on global demand for materials.
Europe also reports unemployment and inflation, which could sway market sentiment ahead of the region's central-bank announcement Thursday morning.
Factory orders for April, the main U.S. data, come out at 10 a.m. ET. Economists expect a gain of 0.5 percent, down from March's 1.1 percent increase. Auto makers will also release monthly sales.
Wednesday brings ADP's private-sector payrolls report. Thursday's big items are the European Central Bank's announcement and jobless claims. The week concludes with non-farm payrolls Friday morning.
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