US GDP: Economists expect the second estimate for first-quarter economic growth to be revised lower to 1.3 per cent from an advance estimate of 1.6 per cent.
Dollar General: The discount retailer is expected to report a 5.9 per cent increase in revenue in its first quarter, as consumers continue to search for bargains amid persistent inflation. Profit is expected to fall by a third to $1.57 a share as the retailer’s margins continued to be pressured by a spending shift towards necessities and away from discretionary items.
Other companies: Burlington Stores, Hormel Foods, Best Buy, Birkenstock, Kohl’s Corporation, and Foot Locker will report earnings before the bell. Nordstrom, Costco, Dell, Ulta and Gap will release earnings after the markets close.
Other economic data: New applications for unemployment aid are forecast to have edged up to 218,000 in the week ended May 25, compared with 215,000 claims in the prior week. Pending home sales in the US are expected to have decreased 0.6 per cent in April after rising 3.4 per cent the prior month.
Fedspeak: New York Fed president John Williams will deliver a speech at the Signature Luncheon hosted by the Economic Club of New York. Dallas Fed president Lorie Logan will make a speech at the Borderplex Alliance event in El Paso, Texas.
