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On the U.S. economic front, the Labor Department is set to report the consumer price index $(CPI)$ for November, which is forecast to rise 0.3% month-on-month, unchanged from the prior month's gain. On an annual basis, the CPI likely climbed 3.1% in November, compared with 3.0% in October. Meanwhile, core CPI for November is expected to have increased 0.3% month-on-month, following October's 0.2% gain. Annually, the core CPI is forecast to remain steady at 3.0%. Additionally, initial claims for unemployment benefits probably fell to 225,000 for the week ending December 13, compared with 236,000 in the prior week. Continued jobless claims for the week ended December 6 are expected to rise to 1.930 million from 1.838 million. The Federal Reserve Bank of Philadelphia's business index for December is forecast to show a reading of 3.0, compared to a reading of -1.7 for November.

Nike is expected to post a drop in second-quarter revenue as the world’s largest footwear maker works to revive demand for its products amid a tough economic environment and stiff competition. Investors will watch out for comments on the holiday season, updates from impact on tariffs as well as investments in product and marketing next year.

German footwear maker Birkenstock is expected to post a rise in fourth-quarter revenue, helped by steady demand for its closed-toe and premium product categories. Investors will look for comments on the impact of tariff uncertainty on consumer sentiment, pricing, input costs as well as annual forecasts.

Darden Restaurants is expected to post a rise in its second-quarter revenue, benefiting from steady demand driven by food delivery and advertising efforts at its casual dining chains. Investors will eye comments on demand and traffic trends, impact from inflation, margin recovery and any update on forecasts that the company provides.

Uniform rental firm Cintas Corp is expected to post a rise in second-quarter revenue, helped by sustained demand for its high-priced uniforms. Investors will look out for comments on demand, pricing actions and annual forecasts.

On the Canadian economic front, the business barometer for December is due to be released.

In Latin America, Mexico's central bank is expected to cut its key interest rate by 25 basis points to 7% at its policy meeting. Separately, Argentina's November trade balance figures are also on the radar with a surplus of $869 million expected, following an $800 million surplus in October.

(Comipled by Kumar Satyam; Edited by Sahal Muhammed)

((Kumar.Satyam@thomsonreuters.com;))