Economic Preview: ADP Jobs Data, Fed Minutes Due Wednesday, Tuesday, May 29, 2007 3:53:00 PM

Wednesday will see the release of a couple important pieces of economic news. Early in the morning, payroll processor ADP will release its jobs report. Later in Wednesday`s session the minutes from the last Federal Reserve meeting will be released.

At 8:15 am Eastern Time on Wednesday, payroll processor ADP will release its employment report for May. Traders will be watching the report closely because ADP`s data can be a good indication of what will be seen in the government`s jobs data set for release on Friday. Investors consider the monthly jobs data to be the most important economic report.

Wednesday afternoon will see the release of the minutes from the last meeting of the policy making arm of the central bank. In its last meeting, the FOMC kept interest rates the same once again. Economists will be watching this data closely for signs about what the central bank`s next move might be.

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