What to Watch in the Day Ahead - Friday, May 9

A slew of Fed speakers are scheduled to participate at various events. To begin with, Federal Reserve Board Governor Michael Barr is likely to speak on "Artificial Intelligence and the Labor Market" before the Reykjavik Economic Conference, organized by the Central Bank of Iceland and the Center for International Macroeconomics at Northwestern University. (0555 /0955) Meanwhile, Federal Reserve Board Governor Adriana Kugler is scheduled to speak on "Maximum Employment" before the Reykjavik Economic Conference organized by the Central Bank of Iceland and the Center for International Macroeconomics at Northwestern University. (0645 /1045) Separately, New York Fed President John Williams is likely to speak before the Reykjavik Economic Conference organized by the Central Bank of Iceland and the Center for International Macroeconomics at Northwestern University. (0830/1230) Additionally, Richmond Fed President Thomas Barkin participates in a fireside chat before the Loudon County Chamber of Commerce. (0830 /1230). Federal Reserve Bank of Chicago President Austan Goolsbee is expected to give welcome and opening remarks before the "Fed Listens: Perspectives from the Midwest" event. (1000 /1400) Furthermore, Federal Reserve Board Governor Christopher Waller is scheduled to speak on "Monetary Policy Research", and Federal Reserve Bank of New York President John Williams speaks on "Taylor Rules in Policy" before the Hoover Monetary Policy Conference. (1130/1530) Also, Federal Reserve Board Governor Lisa Cook, Federal Reserve Bank of Cleveland President Beth Hammack, and Federal Reserve Bank of St. Louis President Alberto Musalem is likely to participate in the monetary policy panel before the Hoover Monetary Policy Conference. (1945/2345)

On the Canadian economic front, employment data is scheduled for release. The country probably added 2,500 jobs in April after shedding 32,600 jobs in March. Meanwhile, the unemployment rate likely inched up to 6.8% in April, from 6.7% in March.

Air Canada is expected to report a wider loss than a year ago for the first quarter, as demand for flights to the United States slumps on tensions between the two countries.

Brazil's statistics agency IBGE is scheduled to report April's IPCA index for inflation. In March, inflation rose 0.56% on a monthly basis, and on an annual basis, it accelerated 5.48%.

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