NEW YORK — Investors appeared ready to move back into the stock market today, pushing index futures higher after five straight days of heavy selling.

A rebound would be likely be based more on bargain hunting than conviction as very few, if any, analysts and investors expect the day's economic news to show significant improvement.

The Institute for Supply Management's services sector index will be released at 10 a.m. Eastern time. Earlier this week, the organization of corporate purchasing executives said its index tracking the manufacturing sector shrank for the 13th straight month in February.

Later today, the Federal Reserve will release its beige book, an assessment of the economy by region.

Meanwhile, Treasury Secretary Timothy Geithner will testify on Capitol Hill for a second day on the president's budget proposal.

Investors got a bit of good news from the housing industry today, as homebuilder Toll Brothers said its loss in the fiscal first quarter narrowed as it slashed expenses. Still, revenue plummeted 51 percent as the company sold fewer homes.

Retailer Costco Wholesale said its fiscal second-quarter profit fell 27 percent on weaker sales of nonfood items and the heavy discounting needed to move out merchandise during a sluggish holiday season.