A report released by payroll processor ADP on Wednesday showed private sector job growth in the U.S. slowed by more than expected in the month of May.
ADP said private sector employment climbed by 152,000 jobs in May after jumping by a downwardly revised 188,000 jobs in April.
Economists had expected private sector employment to increase by 173,000 jobs compared to the addition of 192,000 jobs originally reported for the previous month.
At 10 am ET, the Institute for Supply Management is scheduled to release its report on service sector activity in the month of May.
The ISM’s services PMI is expected to rise to 50.5 in May from 49.4 in April, with a reading above 50 indicating growth.
The Energy Information Administration is due to release its report on oil inventories in the week ended May 31st at 10:30 am ET.
Crude oil inventories are expected to decrease by 1.9 million barrels after slumping by 4.2 million barrels in the previous week.