Calendar

U.S. ECONOMIC HEALTH
June 2, 10 a.m. EDT
The May reading of the Institute for Supply Management's index is expected to show that manufacturing remains in contraction mode, as it has since January.

FOOD SECURITY
June 3
The U.N.'s Food & Agriculture Organization convenes a summit of heads of state to come up with short- and long-term policies to address the global food crisis. The three-day powwow is being held in Rome.

RYANAIR (RYAAAY)
June 3, 5 a.m. EDT
Europe's biggest discount airline reports full-year results. Earnings likely rose 19%, to 31 euros ($48.70) per share. The stock has been losing altitude in recent months, however, on the expectation the carrier's bottom line will get hammered by this year's spike in fuel prices.

EURO ZONE GDP
June 3, 5 a.m. EDT
Preliminary figures are expected to show that output in the 15-member euro zone grew 0.7% in the first quarter. Growth in Germany, the region's biggest economy, helped offset the impact of slumping housing markets elsewhere. But the outlook for the rest of the year is not bright.

NATIONAL SEMICONDUCTOR (NSM)
June 5, 4:30 p.m. EDT
The chipmaker is expected to announce a modest decline in earnings for the fiscal fourth quarter of 2008, another indicator that technology companies are weathering the tough times better than other sectors. Wall Street is eyeing earnings of 27 cents per share, a 1 cents drop from the same quarter a year ago.

U.S. EMPLOYMENT
June 6, 8:30 a.m. EDT
The April report is expected to show the unemployment rate rising to 5.1% from 5% in March. Look for continued weakness in manufacturing, with services holding up better.