Today is the deadline when regulators are expected to indicate who will be allowed to repay TARP loans. It is also the deadline for a review of top management at the big banks. Futures pointed to a lower open for Wall Street as the dollar and U.S. Treasury yields climbed.
There are no economic reports scheduled for release today. The government will release its wholesale inventories report for April tomorrow. On Wednesday, the Federal Reserve will unveil its beige book reading on economic activity. The April trade balance, weekly crude oil inventories report, and the May Treasury budget is also due.
On Thursday, May retail sales will be reported along with business inventories, weekly jobless claims, and foreclosure activity. We end the week with the University of Michigan’s report on consumer sentiment for June and the Labor Department’s report on import and export prices.
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