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By Bryan McCormick

Only one economic report is scheduled for today, and the calendar will be slow all week.

The ISM non-Manufacturing Index will be released at 10am ET. Traders normally focus on the composite index, which is expected to fall to 51 from 52.7 a month earlier. Estimates range from a bearish low of 49 to 53.5 on the bullish side.

The ISM report also has a business-activity index, which is forecast to come in at 54.5, down from 56.1 in July. Economists predict readings of 51.8 to 56.6.

Unlike reports such as jobless claims or auto sales, the index reveals a degree of expansion or contraction. Values above 50 indicate growth, while readings below that number point to contraction.

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Source: ISM Leads Slow Week Of Data