What's coming up

The North America consumer is in focus as we wrap up a holiday-shortened week. There will be no lack of news and economic data starting with both US and Canadian retail sales at the bottom of the hour. The market is especially focused on spending at the moment and signs that consumers are tapped out or if they can reach in their pockets to spur growth again.

At the same time we also get initial jobless claims, the Philly Fed and Canadian ADP employment.

Politics will be a big part of the day with the Mueller report press conference at 9:30 am followed by a release to Congress and the media over the following four-and-a-half hours. I doubt it's a market mover but there will certainly be headlines.

The focus is back on the economy at 1345 GMT (9:45 am ET) with the April preliminary US Markit services and manufacturing PMIs out at the same time.

Later we also get a 5-year TIPS auction, comments from Bostic and the Baker-Hughes rig count report.

For more, see the economic calendar.