The U.S. economy might be strong enough for the Fed to start easing its monetary stimulus in the fall but the next few months could be a bumpy ride. A report on Thursday is expected to show lackluster retail sales in May, a potential sign austerity is hampering economic growth. On Friday, data on May industrial output is expected to show only a partial recovery from April's decline. Also that day, a Thomson Reuters/University of Michigan survey is seen showing consumer sentiment holding steady in early June, while core producer prices are expected to show minimal inflationary pressures in May.
Markets have returned to more of a two-way trade, after long dollar, short Japan and long stocks bets were flushed out as investors weighed conflicting signals on what the Fed may do next. Stocks remain on the back foot, though the action Friday suggests declines will be brief. Bond markets will stay defensive with the quarterly refunding in three-, 10- and 30-year securities next week and eventual expectation for reduced stimulus. The dollar's descent has stopped, and will look to regain its bullish trend, though optimism formed on hopes the Fed will cut bond-buying seems to have been overstated.
Apple CEO Tim Cook is expected to reveal the company's updated iOS mobile operating system at its five-day annual developers' conference in San Francisco, as the U.S. consumer device giant tries to stay ahead of competition from Android device makers such as Samsung Electronics.
E3, the video game industry's biggest conference, kicks off in Los Angeles, with its leaders chasing elusive growth as the mobile games sector explodes. Smartphones and tablets are fast becoming gamers' device of choice at the expense of consoles and PCs, but mobile gaming revenue remains elusive to those trying to ride that trend. Microsoft and Sony are expected to make presentation about their new consoles, while Nintendo, whose newest device rolled out last year, may have a lower profile.
The $103 billion U.S. cable TV industry is grappling with the challenges of holding onto its video subscribers and spurring revenue in a world where consumers are cutting the cord. At the National Cable and Telecommunications Association Show in Washington, which runs from Monday through Wednesday, top speakers will be Comcast CEO Brian Roberts, Time Warner Cable CEO Glenn Britt and Disney's TV chief Anne Sweeney, who are likely to address the state of the industry and unveil their plans and technology for the coming year. The show attracts more than 10,000 TV executives and industry representatives.
Morgan Stanley hosts a financial conference on Tuesday and Wednesday in New York. Speakers include JPMorgan Chase & Co CEO Jamie Dimon and U.S. Bancorp CFO Andrew Cecere on Monday, and Morgan Stanley CEO James Gorman and American Express President Ed Gilligan on Tuesday.
Morningstar holds an investment conference in Chicago from Wednesday through Friday. The event features speakers such as John Bogle of Vanguard, Tad Rivelle of TCW, Curtis Mewbourne and Mihir Worah of PIMCO, Oakmark's Bill Nygren, Fidelity president of asset management Ronald O'Hanley and many other portfolio managers from top mutual fund firms.
Chile and Peru are both expected to keep interest rates on hold when policymakers meet on Thursday but possibly not for much longer as lower commodity prices crimp growth in the export-oriented economies. Cuts are eyed in Chile for as early as July from the current 5 percent amid low inflation and a sharper-than-forecast economic slowdown, and Peru's central bank has said it also has a downward bias to its 4.25 percent benchmark rate.
McDonald's reports sales for May. The fast food company is revising its menu and discounting amid stiff competition for frugal diners around the globe.
Top global central bankers, policymakers and business leaders gather in Montreal for the 2013 Conference of Montreal June 10-12. Speakers on Monday include St. Louis Federal Reserve President James Bullard, OECD head Angel Gurria, Bank of Spain Governor Luis Maria Linde, Bank of Portugal Governor Carlos Costa and Jean-Pierre Danthine, vice-chairman of the board of governors of the Swiss National Bank.
As part of the E3 conference, Microsoft is expected to share more details on its new Xbox One console, which it unveiled in May. Later in the day, Sony is expected to announce details of its next-generation PlayStation, and publisher Electronic Arts is expected to provide details on its games for next-generation consoles and mobile devices.
Yogawear chain Lululemon Athletica reports first-quarter results and investors will look for any updates on the company's move to pull see-through pants from its shelves in March, which it has warned could cost up to $40 million in profit this fiscal year. Diamond Foods and Pep Boys-Manny Moe & Jack also post quarterly results.
Navistar is expected to report second-quarter results. The Lisle, Illinois-based truck and engine maker is struggling to right itself under a new CEO after abandoning a costly proprietary emissions system.
Wayne Brownlee, CFO of Potash Corp, one of the biggest producers of the crop nutrient potash, fields investor questions on a "Virtual Meeting" webcast. Of particular interest will be any comment on the state of Canpotex negotiations with China on a second-half potash supply contract and how Potash plans to deploy its growing free cash flow as it winds down a decade-long expansion program.
Beverage industry executives, including officials from Coca-Cola, PepsiCo and Dr Pepper Snapple, gather in New York at a conference sponsored by industry newsletter Beverage Digest.
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