A federal bankruptcy judge is expected to rule next week on whether Chrysler can close nearly 800 dealerships as part of the embattled car maker’s restructuring plan.
The dealerships are fighting the closures and legal arguments are slated to begin Tuesday in bankruptcy court in New York City.
Tech investors will be watching Apple (AAPL) closely, wondering if Chief Executive Steve Jobs will announce a return from medical leave. Apple holds its annual developers conference on Monday in San Francisco and rumors are swirling that the charismatic and enigmatic founder may show up.
Jobs is believed to be planning a return to work later this month.
The U.S. trade deficit is expected to expand slightly in April as it did in March after shrinking every month since November. The deficit will be detailed Tuesday, a day after the government reports on April wholesale inventories.
On Wednesday, the Federal Reserve releases its Beige Book, a Fed survey of regional economic conditions across the U.S.
The government details May retail sales and April business inventories Thursday, and a day later, the Reuters/University of Michigan Consumer Sentiment Index issues its preliminary figure for June. The index has been rising since February.
A handful of companies are reporting quarterly reports next week. They include retailer Talbots (TLB) on Tuesday and Men's Wearhouse Inc. (MW) and Neiman Marcus Group Inc. (NMGA) on Wednesday and Del Monte (DLM) on Thursday.
Studies to be released at the annual American Diabetes Association conference could affect the market for large diabetes product makers, such as GlaxoSmithKline PLC (GSK) and Novo Nordisk (NVO), and change the way patients deal with a disease that can lead to blindness, kidney disease, heart attacks and death.
The Senate is expected to debate a bill tightening regulation of tobacco products next week. The measure would give the Food and Drug Administration authority to regulate tobacco.
House Democrats will meet Tuesday to hear proposals from Ways and Means Chairman Charles Rangel, D-N.Y., on ways to overhaul the U.S. health-care system.
