The United States will also release the ISM index for the month of June.  The index will be announced at 10:00 AM.  The regional indices from New York, Philadelphia, and Richmond have been weaker than the previous month, while the Chicago index showed a modest increase on Monday.  Last month the index came in at 49.6. 

This month the expectation is for a decline to 48.6 from 49.6 last month.  This would be the 5th month in a row below the 50 level.  The Prices Paid component of the index is expected to remain unchanged at 87.0.  Traders will analyze the component pieces to see if there are any signs of future growth in the pipeline.