Here’s what to expect in the week ahead:
Closing arguments coming in AT&T-Time Warner merger case.
Arguments in the trial over AT&T’s proposed merger with Time Warner will end on Monday. The Justice Department will sum up its position that the deal should be blocked by the Federal District Court of the District of Columbia because it believes the merger will harm consumers and competition. AT&T and Time Warner will defend the $85.4 billion agreement and say it would not harm consumers but create a stronger competitor to new entertainment rivals from Silicon Valley. The federal judge hearing the case is expected to take at least a month to reach a decision. Cecilia Kang
A tariff deadline looms for six United States allies.
A crucial deadline will pass on Tuesday for six American allies who were temporarily exempted from President Trump’s steel and aluminum tariffs. The European Union, Canada, Mexico, Brazil, Argentina and Australia have been negotiating furiously to extend their reprieve from the tariffs, but it remains unclear whether the Trump administration will grant the countries further exemptions from tariffs of 25 percent on steel and 10 percent on aluminum. If the tariffs do go into effect, the European Union and other allies will most likely respond with tariffs of their own and challenges at the World Trade Organization. Ana Swanson
Apple will report its earnings.
Apple is scheduled to report its quarterly earnings on Tuesday. While all indications suggest its huge business continues to hum along, investors will be watching for the answers to two major questions. How much, if any, growth is left in iPhone sales? And now that Apple has repatriated most of the $252 billion it held abroad to comply with the new tax law, how much will it return to shareholders? Some analysts predict the company could send as much as $180 billion to investors through stock buybacks and dividend increases over the next two and a half years, on top of the $300 billion it has already authorized. Jack Nicas
Estimate of eurozone economic growth expected.
The uncertain state of the eurozone economy may become clearer on Wednesday when the European Union statistics office releases an estimate of its economic growth in the first quarter. Recent indicators suggest that the economy, which had been exceptionally strong, is slowing. But most analysts expect growth from January through March to have remained solid, just not quite as vibrant as before. Jack Ewing
The Fed is expected to leave interest rates unchanged.
The Federal Reserve will conclude a two-day meeting on Wednesday, probably by leaving interest rates unchanged. But analysts will watch the official statement after the meeting for signs of rising concern about inflation, and hints that the Fed might accelerate its pace of rate increases later this year. Jim Tankersley
U.S. Treasury to provide details on borrowing plans.
An announcement on quarterly borrowing that is expected on Wednesday will provide details on how the Treasury plans to finance increased deficits. The Federal government is expected to boost the amount it intends to borrow in the coming months, as the Treasury contends with declining tax receipts as a result of the recent corporate and personal tax cuts, as well as widening budget deficits and a Federal Reserve that is slowly reducing its own holdings of government bonds. When the Treasury increased borrowing in short-term Treasuries earlier this year, short-term interest rates rose significantly. Matt Phillips
Tesla will report earnings, and Model 3 production.
Tesla reports its first-quarter earnings on Wednesday and all eyes will again be on the production line rather than the bottom line. The electric-car maker is expected to post another loss, but key to its future is whether it can ramp up production of the Model 3, a battery-powered compact car that Telsa is counting on to fuel a dramatic rise in revenue. Tesla was able to produce 2,000 of the cars in the final week of the quarter, but will give an update on where it is now. Its chief executive, Elon Musk, has said he’s hoping to increase output to close to 6,000 a week, although analysts are skeptical given the bottlenecks the company has run into. Neal E. Boudette
Criticism expected at Volkswagen shareholder meeting.
Volkswagen will hold its annual shareholders’ meeting in Berlin on Thursday, and it is expected to face sharp criticism from investors angry that the company is still experiencing the repercussions of a diesel emissions scandal that erupted in 2015. Police raids on offices of Volkswagen’s Porsche division in April targeted high-ranking managers, highlighting what critics say is the company’s failure to adequately clean house. The shareholders’ meeting will be the first for Herbert Diess, the former BMW executive who replaced Matthias Müller as chief executive in early April. Jack Ewing
Trump officials will travel to China to discuss trade.
Treasury Secretary Steven Mnuchin will lead a delegation of top economic advisers to Beijing late in the week to begin negotiations between two nations that appear to be on the brink of a trade war. Mr. Mnuchin will be joined on the trip by Robert Lighthizer, the United States trade representative, and Larry Kudlow, the director of the White House’s National Economic Council, and potentially other Trump advisers as well. The prospect of a damaging economic confrontation between the world’s two largest economies has loomed in recent weeks, as the Trump administration threatened China with steep tariffs and China promised to retaliate with similar trade measures. Ana Swanson
An uptick is expected for April employment figures.
The Labor Department will publish hiring numbers for April on Friday at 8:30 a.m. Economists expect that employers added 195,000 jobs, according to Bloomberg. That figure would represent an uptick from the gain in March, which was muted partly because of bad weather on the East Coast. April’s numbers may offer some insight into manufacturers’ reaction to the escalating trade spat between the United States and China. Some forecasters expect to see weaker hiring numbers in the sector, as companies factor in the uncertainty around the cost of raw materials. Natalie Kitroeff
Berkshire Hathaway will hold its annual meeting in Omaha.
Tens of thousands of investors will descend on Omaha on Saturday for the annual meeting of Warren Buffett’s Berkshire Hathaway, an event known as the “Woodstock of Capitalism.” Between bites of See’s candies and sips of Cherry Cokes, Mr. Buffett and Charles T. Munger, Berkshire’s vice chairman, will spend roughly six hours answering questions from investors. Mr. Buffett and Mr. Munger will probably face questions about succession, after Mr. Buffett promoted Ajit Jain and Greg Abel to vice chairmen earlier this year. Other topics likely to come up include Berkshire’s decision to team up with Amazon and JPMorgan Chase to form a new company to lower health care costs; Berkshire’s growing pile of cash and the environment for deal making; and the tax cuts passed late last year, which provided Berkshire with a hefty windfall. Stephen Grocer