Markets will get a look at the labour market with the release of ADP employment report ahead of Thursday's nonfarm payrolls data. Economists expect ADP to show a decrease of 20,000 jobs for June, following a 40,000 rise in May.

"The ADP survey of private sector payrolls should be one of the best guides to the official employment report and so cannot be ignored completely, but in practice its short track record has more misses than hits," wrote Roger Bootle, managing director of Capital Economics.

U.S. factory orders for May will also be released, with the consensus calling for a rise of 0.4% for the month, following a 1.1% rise in April.

All times in EDT.

7:00 US MBA Mortgage Applications 27-Jun Prior: -9.3%

7:30 US Challenger Job Cuts (Y/Y) June Prior: +45.6%

8:15 US ADP Employment Change June Exp: -20K Prior:+40K

10:00 US Factory Orders May Exp: +0.5% Prior: +1.1%

10:30 US DOE U.S. Crude Oil Inventories 27-Jun Exp: -750K Prior: +803K

10:30 US DOE U.S. Gasoline Inventories 27-Jun Exp: +750K Prior: -153K

10:30 US DOE U.S. Distillate Inventory 27-Jun Exp:+1375K +2823K

10:30 US DOE U.S. Refinery Utilization 27-Jun Exp: +0.55% Prior: -0.72%

10:30 US DOE Cushing OK Crude Inventory June Prior: 59K

11:00 US Paulson Speaks in London about Capital Markets, Global Economy in London

12:00 US Fed's Mishkin Speaks at Conference in Israel

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