Live news: US Treasury yields hit 1-month high as government debt auction meets weak demand again

Salesforce: The cloud-based software company is expected to continue to benefit from strong demand for its products. Earnings are forecast to have increased to $1.44 a share in the first quarter compared with 20 cents a share a year ago, according to analysts polled by LSEG.

Other companies: Viking Holdings, Dick’s Sporting Goods, Chewy and Abercrombie & Fitch will report earnings before the bell. HP will release results after the market closes.

Fedspeak: New York Fed president John Williams will participate in a roundtable discussion with local leaders to hear about business conditions and municipal and community services in Watertown, New York. Atlanta Fed president Raphael Bostic will participate in a moderated conversation regarding the economic outlook and leadership at a conference held by the American Economic Association in Atlanta.

Fed Beige Book: The Federal Reserve will release its report on the current economic conditions of its 12 central bank districts.

Biden: US President Joe Biden will campaign with vice-president Kamala Harris in Philadelphia, as the duo try to stir up support in the swing state of Pennsylvania ahead of the presidential election in November.