Earnings from Lehman Brothers will kick off the day followed by Canadian motor vehicle sales and the Empire Fed's manufacturing index. Markets will also be paying attention to U.S. TIC flows, comments from Fed Chairman Ben Bernanke and Richmond Fed President Jeffrey Lacker (voter) followed by the NAHB's housing market index.

At 8:15 a.m. EDT, markets will be looking out for result from Lehman Brothers. The street is looking for a loss per share of $5.14.

At 8:30 a.m. EDT, Statistics Canada will release new motor vehicle sales for April. Economists expect a flat reading following March's 0.5% decline.

At 8:30 a.m. EDT, the New York Fed will release its manufacturing index for June. The consensus is looking for a rise from the previous month's -3.23 level to a reading of -1.5. Markets will also be paying attention to the new orders, prices paid and employment indexes, which came in at -0.46, 69.57 and 1.09 respectively in May.



At 9 a.m. EDT the U.S. Treasury will release net and total TIC flows for April. Net long-term TIC flows are expected to total $63.3 billion compared to the previous month's $80.4 billion. Total TIC flows are expected to rise $42.5 billion compared to the -$48.2 billion decline in the previous month.

At 10 a.m. EDT, Fed Chairman Ben Bernanke will speak about challenges in healthcare reform at the U.S. Senate Finance Committee's Summit of Health Reform in Washington, D.C. An audience Q&A will follow.

At 11 a.m. EDT, Klaus Liebscher, head of the Austrian central bank, will speak in Vienna at a book dedication ceremony.

At 1 p.m. EDT, the U.S. National Association of Home Builders' will release its housing market index for June. Economists are expecting no change to the previous month's reading of 19.

At 1 p.m. EDT, Richmond Fed President Jeffrey Lacker (voter) will speak on the U.S. economy at an event in Spartanburg, South Carolina. Audience and media Q&A will follow.

At 1 p.m. EDT, the U.S. Treasury will sell $23 billion in three-month bills and $24 billion in six month bills.

8:30 CA New Motor Vehicle Sales (M/M) April Exp: 0.0% -Prior: +0.5%

8:30 US Empire Manufacturing June Exp: -1.5 Prior: -3.2

9:00 US Net Long-term TIC Flows April Exp: +$63.3B Prior: +$80.4B

9:00 US Total Net TIC Flows April Exp: +$42.5B Prior: -$48.2B

10:00 US Bernanke to Speak at Senate Finance Committee Health Summit

13:00 US NAHB Housing Market Index June Exp: +19 Prior: +19

13:00 US Fed's Lacker speaks on Economic Outlook in South Carolina

13:00 US Treasury to Sell USD23B 3-Month Bills

13:00 US Treasury to Sell USD24B 6-Month Bills

By Erik Kevin Franco and edited by Stephen Huebl