What's coming up
Another 1.8m initial jobless claims are forecast at the bottom of the hour as the tally nears 40 million. The market is also tuned into continuing claims and the program for unemployed contract and gig workers.
Trade data from Canada and the US is expected at the same time with both forecast to show rising trade deficits.
We also get Q1 US productivity data and Lagarde will begin her press conference.