``June's employment report could offer clues on the timing of the Fed's eventual tapering of its bond purchases. Non-farm payrolls are expected at 170,000, below the 194,000 six-month moving average. The unemployment rate is seen dipping to 7.5 percent from 7.6 percent.

Manufacturing will also be in the spotlight next week. The Institute for Supply Management is expected to report on Monday that factory activity expanded in June after a surprise contraction in May.''

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