Economic Preview: Tuesday To See Services Industry Data, Bernanke Speech, Monday, June 04, 2007 3:38:57 PM

Tuesday will see the release of an important economic report and a speech from the Federal Reserve Chairman. Data on the services industry will be released in the mid-morning. Traders will also be watching for a statement from Fed Chair Ben Bernanke.

At 10 am eastern Time Tuesday morning, the Institute for Supply Management will announce its index of national non-manufacturing activity for May. This provides a look at the country`s services industries. Economists predict the main ISM index will remain the same as April`s level of 56, indicating continued growth in that part of the economy. Investors will be watching the data closely after the release of the ISM`s manufacturing index last week, which came in much higher-than-expected.

At 8:15 am Eastern Time, Federal Reserve Chairman Ben Bernanke will address the International Monetary Conference in South Africa via satellite. Bernanke is scheduled to make comments about housing and the U.S. economy and will take questions afterward.

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