UPDATED 7:25 am ET
STOCKS – European stocks were little changed, with the Stoxx Europe 600 Index heading for a seventh weekly advance, as investors awaited data on U.S. business activity. U.S. futures and Asian shares were also little changed.
BONDS – Treasuries headed for the steepest monthly gain since January as signs the economy is falling short of expectations led investors to unwind bets against bonds.
COMMODITIES – Wheat fell for an eighth session in Chicago, headed for the biggest monthly drop since 2011, on speculation that crop conditions in the U.S. will improve amid prospects for rain. Corn was little changed.
CURRENCIES – The yen strengthened as a government report showed Japan’s inflation accelerated to the fastest in more than two decades in April, reducing the prospect of additional stimulus by the Bank of Japan.
ECONOMIC DATA – CAD GDP m/m, US Personal Spending m/m and FOMC Member Pianalto Speaks at 8:30, Chicago PMI at 9:45, Revised UoM Consumer Sentiment at 9:55, FOMC Member Mester Speaks at 12:30 ET.
