In the absence of any major economic data releases from the United States on Monday, General Motors press conference is likely to draw attention as the automaker announces more key restructuring plans.

At 9 a.m. EDT, General Motors is holding a press conference to detail some of its restructuring plans. The firm is expected to announce the discontinuation of its Pontiac brand and the closure of another six plants in the United States, bringing the number remaining to 27.

At 10:30 a.m. EDT, the Dallas Federal Reserve will release its manufacturing index for April, which is expected to decline to a reading of -46.0 from the -49.0 reported previously.

At 11 a.m. EDT, the U.S. Treasury will buy back notes and bonds.

At 11:30 a.m. EDT, the U.S. Treasury will sell $29 billion in three-month bills and $28 billion in six-month bills.

Also of note, at 1 p.m. EDT the U.S. Treasury will sell $40 billion in two-year Treasury notes.

On the earnings front, Verizon and Valero are scheduled to report ahead of the opening bell on Monday, with Verizon expected to report earnings of $0.59 per share and Valero expected to report earnings of $0.50 per share.

All times in EDT.

10:30 US Dallas Fed Manufacturing Activity April Exp: -46.0% Prior: -49.0%

11:00 US Treasury to Buy Back Notes/Bonds

11:30 US Treasury to Sell $29B 3-Month Bills

11:30 US Treasury to Sell $28B 6-Month Bills

12:00 FR Total Jobseekers March Prior: 2384.8

12:00 FR Jobseekers- Net Change March Prior: +79.9

13:00 US Treasury to Sell $40B 2-Year Notes

By Erik Kevin Franco and edited by Stephen Huebl
©CEP News Ltd. 2009