The Week Ahead: June 4 to 8

KEY EVENT. Grads, stash some cash. Member of the Class of 2012? Financial advisers say this is a good week to take some of your gift money and open an IRA or put some cash in the bank for an emergency fund. Also, look into consolidating student loans, but keep an eye on the terms and watch out for hidden fees.

Monday. April factory orders from the Commerce Department. Earnings: discount retailer Dollar General, casino supplies provider Shuffle Master.

Tuesday. The Institute for Supply Management's services industries report for May updates the health of businesses outside the manufacturing sector, such as retail and communications.

Wednesday. The Federal Reserve releases the Beige Book, a compilation of recent reports on economic activity from around the nation. Also, worker productivity in the first quarter from the Labor Department. Earnings: Port Washington filtration systems provider Pall, Jack Daniels distiller Brown-Forman.

Thursday. Federal Reserve chairman Ben Bernanke is scheduled to testify before Congress about the nation's economic outlook. Also, claims for jobless benefits for the week ended June 2 from the Labor Department. Earnings: semiconductor maker Altera, jam maker J.M. Smucker.

Friday. International trade for April from the Commerce Department.