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ON MONDAY

Fox Corp is expected to report higher third-quarter revenue, driven by growing advertising spending. Investors will be looking for commentary on advertising growth amid economic uncertainty.

The U.S. Treasury Department will release the federal budget figures for April. The budget deficit came in at $161 billion in March.

Federal Reserve Board Governor Adriana Kugler is scheduled to speak on the economic outlook before the National Association for Business Economics and the Central Bank of Ireland's International Economic Symposium. (1025/1425)

Mexico's industrial output data for March will be on the radar. The country's industrial output rose 2.5% in February.

REST OF THE WEEK

Two key inflation readings take center stage in the upcoming week, shedding light on pricing trends across consumer and producer levels. The Consumer Price Index $(CPI.UK)$, due on Tuesday, is forecast to have edged up 0.3% in April after falling 0.1% the month before. Annually, inflation will likely remain unchanged at 2.4% in April. Meanwhile, core CPI is estimated to have inched up 0.3% last month, compared to a 0.1% increase in March. The Producer Price Index $(PPI)$ for final demand, due on Thursday, is likely to see a 0.3% increase in April, after falling 0.4% the month before. Excluding food and energy, the so-called core PPI is likely to have gained in April, rising 0.3% after falling 0.1% in March. On the same day, the Labor Department's weekly jobless claims data is scheduled for release. Initial jobless claims likely increased by 2,000 to 230,000 for the week ending May 10. Separately, on Thursday, retail sales data is forecast to have fallen 0.1% in April, compared to a 1.4% rise in March. Excluding sales of automobiles, retail sales are projected to have edged up 0.3% last month, after rising 0.5% the prior month. Meanwhile, industrial production in April is expected to show 0.2% growth, after a decline of 0.3% in March. Capacity utilization was likely at 77.9% in April, up from 77.8% the previous month. Additionally, on Friday, the Commerce Department's Census Bureau is expected to report that overall housing starts likely rose to a seasonally adjusted annual rate of 1.370 million units in April, from 1.324 million units the month before. Additionally, building permits are expected to have slipped to 1.450 million units from 1.467 million units in March. Import prices for April will also be released on the same day.

Walmart is expected to post a rise in its first-quarter revenue on Thursday, benefiting from steady demand for groceries and essentials across all income groups. Investors will look out for the company's plans to mitigate tariff impacts, challenges from existing tariffs on China, forecast revision and consumer sentiment.

Deere is expected to report a fall in second-quarter sales and profit when it reports on Thursday.

A host of Federal Reserve policymakers are scheduled to attend various events through the week. On Wednesday, Federal Reserve Board Governor Christopher Waller is likely to speak on "Central Bank Research" before the Award Ceremony for the Winners of the 2nd Edition of the Bank Al-Maghrib Prize for Economic and Financial Research. Separately on the same day, Federal Reserve Vice Chair Philip Jefferson is scheduled to speak on the economic outlook before the virtual Annual Conference of Second District Directors and Advisors. Additionally, on Wednesday, San Francisco Fed President Mary Daly is expected to participate in a fireside chat before the California Bankers Association 25th Annual Conference and Directors Forum. Meanwhile, Daly is also scheduled to give the commencement address at the College of Western Idaho, approximately. on Friday. Moving on, Federal Reserve Board Governor Michael Barr is likely to give opening remarks before the virtual 2025 Northeast/Mid-Atlantic Small Business Credit Symposium, hosted by the Federal Reserve Banks of New York, Cleveland, Philadelphia, Boston and Richmond. Furthermore, on Friday, Richmond Fed President Thomas Barkin is expected to give the commencement address at Vance-Granville Community College. Also, on Thursday, the Federal Reserve Board holds the 2nd Thomas Laubach Research Conference. The conference will highlight research focusing on monetary policy and the economy. As such, it is expected to provide timely academic perspectives for the monetary policy framework review that the Federal Reserve has committed to conduct every five years.

Applied Materials is expected to report a rise in second-quarter revenue on Thursday, as it benefits from strong demand for its chipmaking equipment even as the rising geopolitical and economic tensions cloud the outlook for chip firms.

Chinese e-commerce giant Alibaba is expected to report on Thursday an increase in March-quarterly revenue, driven by steady demand. The company's comments on its cloud business, AI initiatives and on U.S.-China trade tensions will be closely watched for.

On Tuesday, sportswear maker Under Armour is expected to post a decline in fourth-quarter revenue, hurt by weaker demand for its products. Investors will look for comments on demand, the impact of rising competition, cost-saving measures and annual forecasts. On the same day, sportswear maker On Holding is expected to report a rise in first-quarter revenue, aided by strong demand for its shoes and sportswear. Investors will look out for comments on annual forecasts, tariff impacts and new products.

Cisco Systems is expected to post on Wednesday an increase in third-quarter revenue, as enterprise spending on networking equipment picks up.

Investors will be looking closely at Take-Two Interactive's annual bookings forecast when they report their fourth-quarter earnings on Thursday, after the videogame publisher pushed the release of its highly anticipated "Grand Theft Auto VI" out of its fiscal 2026.

JD.com is expected to report on Tuesday a rise in first-quarter revenue as the Chinese e-commerce company sees steady domestic demand. Investors will be watching for the company's outlook and its commentary on the impact to its business from U.S.-China trade tensions.

On Thursday, German footwear maker Birkenstock is expected to post a rise in second-quarter revenue, helped by steady demand for its closed-toe and premium product categories. Investors will look for comments on the impact of tariff uncertainty on consumer sentiment, pricing, input costs as well as annual forecasts.

On the Canadian economic calendar, March building permits numbers are due on Wednesday, providing an early indication of future construction activity. On Thursday, housing starts for April will offer further insight into residential construction trends, while March wholesale trade figures will help gauge broader economic momentum in the goods distribution sector.

On the Latin American front, Brazil's retail sales data for March is due on Thursday, offering a snapshot of consumer spending in the region's largest economy. Separately, Mexico's central bank is set to announce its interest rate decision on the same day, with markets watching closely for any policy shifts. Meanwhile, Argentina will release its April inflation data on Wednesday, as the country continues to grapple with persistently high price pressures.

(Compiled by Kumar Satyam; Edited by Vijay Kishore)

((Kumar.Satyam@thomsonreuters.com;))