The ISM Services Index remained unchanged at 55.4% in May, higher than the expected level of 55.1, after remaining unchanged in April, following an increase to 55.4 in March. The index’s complement, the ISM Manufacturing Index decreased to 59.7 on Tuesday’s release after increasing to 60.4 in April.
Factory Orders increased by 1.2%, $5.1 billion, to $420.1 billion in April, lower than the expected 1.7% increase, following a 1.7% increase in March, revised upwards from a reported 1.3% increase. Factory Orders are up 12 of the past 13 months. Excluding transportation, Factory Orders decreased by 0.5%.

Crude inventories decreased by 1.9 million barrels, for the week ending May 28, from the previous week to 363.2 million barrels and were above the upper limit of the average range for that time of year. U.S. crude oil refinery inputs averaged 15.1 million barrels per day during this period, 20 thousand barrels per day above the previous week’s average. U.S. crude oil imports were averaging 9.5 million barrels per day, down 473 thousand barrels per day from the previous week.
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Unemployment Rate (06/04 at 8:30 AM EST)
Consumer Credit (06/07 at 3:00 PM EST)
Wholesale Inventories (06/09 at 10:00 AM EST)
Fed’s Beige Book (06/09 at 2:00 PM EST)

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