The US Institute for Supply Management's survey of purchasing managers in the services sector is the focus Monday. The ISM services index for April is expected at 50.2, down from 50.8 in March. The report is due for release at 10 am ET. With diffusion indexes like, this a reading of 50 indicates no change in business activity relative to the previous month. Anything above 50 indicates expansion in business while an index below 50 indicates contraction.

The separate ISM manufacturing index released last week came in at 48.7 for April, down from 49.0 in March, which means the contraction in manufacturing deepened marginally in April. The question for services is whether the index will remain flat or will actually slip into contraction as manufacturing has, largely in response to tariffs and the threat of tariffs.

Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.

Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.