Here comes Philly Fed...

Philly manufacturing is trying for a comeback at 8:30 a.m. ET.

Economists forecast that the Philadelphia Fed manufacturing index will rise to 1 after sliding into negative territory at -1.8 last month, according to Bloomberg.

The drop in May was unexpected, sliding back into negative territory after spending the previous two months in positive territory.

Hope for a bounce back comes after the Empire State Manufacturing Index showed an unexpected spike for manufacturing activity in New York state Monday.

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