Walmart: The world’s largest retailer will report first-quarter earnings, offering insight into the state of consumer spending amid persistent inflation. Analysts expect earnings to have risen almost 150 per cent year on year to 52 cents a share on revenues up 4.7 per cent to $159.5bn.
Other earnings: Deere, Under Armour and Canada Goose will report before the bell.
US jobless claims: New applications for unemployment aid are forecast to have fallen to 220,000 in the week ended May 11, from 231,000 a week earlier.
Housing starts: New residential construction is expected to have increased in April to an annualised pace of 1.42mn units, from about 1.3mn units in March.
Fedspeak: Michael Barr, the Fed’s vice-chair for supervision, will testify at the US Senate Banking Housing and Urban Affairs Committee hearing on the oversight of US financial regulators. Atlanta Fed president Raphael Bostic will participate in a conversation about the economic outlook at an event in Florida. Cleveland Fed president Loretta Mester will deliver remarks at an event in Wooster, Ohio.
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