US GDP, preliminary jobless claims and commerce stability arising subsequent

The US dollar is under pressure against the low-yielding yen and Swiss franc while S&P 500 futures are down 20 points.

Expect swings at the bottom of the hour with a handful of US economic data releases:

• Q1 GDP (second reading)
• Initial jobless claims
• Advance goods trade balance
• Wholesale inventories
• Canadian current account

Then at 10 am ET, we get US April pending home sales.

On the Fed calendar, we get Williams at 12:05 am ET and Logan at 5 pm ET.