US budget to be released - The week ahead on Wall St

BARACK Obama will be in the spotlight today, as the White House unveils its budget for the 2016 fiscal year.

The President is expected to call for an increase in domestic and military spending, as well as a tax on firms’ foreign earnings.

Employment, automobile and sales data, all due out this week, are expected to give fresh clues on how the economy fared in early 2015. Economists predict a healthy rise in employment for January, with the unemployment rate remaining at a low 5.6 per cent.

Companies reporting this week include Activision Blizzard, Cliffs Natural Resources, Coty, Elizabeth Arden, Estee Lauder, Exxon Mobil, General Motors, GoPro, InterActive, Lazard, LinkedIn, Merck & Co, Moody’s, Norton, Pandora Media, Prudential, Spirit Aerosystems, Sprint, Symantec, Sysco, Twenty-First Century Fox, Walt Disney and Yelp.