On Thursday, Statistics Canada reports on the current account balance for the first quarter. A surplus of $2.9 billion is expected, compared with $500 million deficit in the previous quarter.

As well, federal finance minister Jim Flaherty meets with provincial and territorial ministers of finance and treasurers for a working dinner on Thursday further discussions on Friday.

On Friday, StatsCan releases annualized GDP data for the first quarter and March GDP data by industry. Economists expect annualized quarterly GDP growth of 0.5% and a March gain of 0.1%.

Separately, the government agency reports on industrial product and raw materials prices for April. Economists forecast a 0.8% increase in the industrial product price index and a 0.6% rise in the raw materials price index from the same period a year ago.

South of the border

U.S. markets are closed Monday to celebrate Memorial Day.

On Tuesday, the U.S. Commerce Department reports on new home sales in April. Economists forecast a sales increase of 0.1% to 527,000 homes, up from 526,000 the previous month.

On Wednesday, the U.S. Commerce Department reports on durable goods orders for April. A 1.1% decrease is forecast.

On Thursday, the U.S. Department of Labour reports on initial jobless claims for the week ended May 24. Economists forecast 370,000 claims, up from 365,000 a week earlier. Continuing claims for the week ended May 17 totalled 3.08 million.

Meanwhile, the U.S. Department of Commerce issues figures on first-quarter gross domestic product. Economists expect an annualized rise of 0.9%, compared with a 0.6% increase the previous quarter.

On Friday, the U.S. Commerce Department releases personal income and spending data for April. Economists forecast increases of 0.2% in both income and spending.

Corporate earnings

On Tuesday, Bank of Montreal and Bank of Nova Scotia release second-quarter results.

On Wednesday, Toronto-Dominion Bank releases second-quarter results, as does Laurentian Bank of Canada.

Other companies scheduled to release quarterly earnings include Sears Canada Inc., American Eagle Outfitters Inc., and Polo Ralph Lauren Corp.

CIBC reports Q2 results on Thursday, as does Royal Bank of Canada and National Bank of Canada.

Other companies on the earnings calendar include Descartes Systems Group Inc., Sears Holdings Corp., Costco Wholesale Corp., Dell Inc., H.J. Heinz Co., and Wind River Systems.

On Friday, Lions Gate Entertainment releases fourth-quarter results, as does Heroux-Devtek Inc.