@ The White House
In the morning, the President and the Vice President will receive the Presidential Daily Briefing in the Oval Office, and the President will meet with senior advisors in the Oval Office.
In the afternoon, the President will award Sergeant First Class Leroy Arthur Petry, U.S. Army, the Medal of Honor for conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty. Sergeant First Class Petry will receive the Medal of Honor for his courageous actions during combat operations against an armed enemy in Paktya, Afghanistan in May, 2008. He will be the second living, active duty service member to be awarded the Medal of Honor for actions in Iraq or Afghanistan. The Vice President will also attend.
Later in the afternoon, the President and the Vice President will meet with Congressional Leadership in the Cabinet Room to discuss the ongoing efforts to find a balanced approach to deficit reduction.
@ Wall Street
Investors will get the U.S. trade balance figures for May in the morning. Economists surveyed by Briefing.com expect the U.S. posted a $44 billion trade deficit in May, slightly wider than the $43.7 billion deficit for April.
IHS Global Insight experts expect export volumes to decline after two very strong months, and import volumes to rise slightly after April's decline. Even with a slightly wider deficit this month, trade will be one of the main factors propping up second-quarter growth in the face of weak growth in domestic demand.
Minutes from the Federal Reserve's Federal Open Market Committee meeting from June are also due out in the afternoon.
