Weekly jobless claims are expected at 8:30 a.m. ET, and economist are forecasting 370,000 claims, slightly above last week’s 365,000. Any number greater than that will be seen as a real negative, after Friday’s disappointing April employment report. The trade deficit and import prices are also reported at 8:30 a.m.
Fed Chairman Ben Bernanke speaks at 9:30 a.m. on banks and bank lending at an annual conference on bank structure and competition.