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General Motors Corp. (GM) will continue its efforts next week to ensure a quick trip through bankruptcy court or perhaps avoid filing altogether.

Retailers will continue reporting fiscal first-quarter results, and economic reports could demonstrate a small improvement in the housing market and the economy.

And U.S. stock markets will open for a short week Tuesday after being closed for the Memorial Day holiday.

 
   GM Weighs Bankruptcy Filing Before Deadline 
 

GM could file for bankruptcy next week before a government-imposed June 1 deadline to reorganize itself into a viable company. The Detroit automaker hopes to rush through bankruptcy court in as few as 30 days, but the drive for an expedited bankruptcy could be challenged by GM's investors and dealers, who are expected to argue to a judge that they are being treated unfairly.

 
   More Retailers Report 1Q Results 
 

Teen-focused retailers American Eagle Outfitters Inc. (AEO) and Wet Seal Inc. (WTSLA) are expected to post sharply lower fiscal first-quarter earnings next week, as same-store sales at both retailers have fallen throughout 2009. Teen retailers have been hurt by slumping shopping mall traffic, tighter credit and a sharp slowdown in consumer spending. American Eagle reports Wednesday and Wet Seal a day later.

Others reporting are women's apparel retailers Chico's FAS Inc. (CHS), Charming Shoppes Inc. (CHRS) and home-decor and clothing retailer Polo Ralph Lauren Corp. (RL), all Wednesday, and specialty retailer J. Crew Group Inc. (JCG) on Thursday.

 
   Lower Demand Continues To Weigh On Results 
 

Other companies reporting quarterly results next week include Costco Wholesale Corp. (COST) and Dell Inc. (DELL), both of which are exposed not just to consumer weakness but tightened business spending as well. Warehouse-store operator Costco, despite its relatively stable same-store sales this year, is expected to post a lower fiscal third-quarter profit on revenue hurt by the stronger dollar. Dell is likely to report a steep earnings drop on a projected double-digit decline in revenue.

 
   Higher Home Sales; Smaller GDP Decline 
 

Economic reports due next week could offer some optimism about the housing market, with April existing- and new-home sales expected to climb from a month earlier. On Wednesday, the National Association of Realtors is projected to report a 1.8% rise in existing-home sales. A day later, the government is likely to report new-homes sales grew 2%. Lower prices and mortgage rates are helping unload some new homes, which have lagged existing homes in sales. On Tuesday, the Standard & Poor's/Case-Shiller index will report on March home prices in 20 major cities.

The latest government figure on first-quarter gross domestic product, due next Friday, is expected to show a 5.5% decline, compared with the first reading of a 6.1% drop.

Both the private Conference Board's April consumer confidence index Tuesday and the final number for the Reuters/University of Michigan's May consumer sentiment index Friday are expected to show small gains in consumer confidence, which remains relatively low as unemployment continues to rise.

The government details April durable goods orders Thursday, and regional manufacturing reports are due Tuesday from the Dallas Fed and Thursday from the Chicago and Kansas City Feds.

Among appearances by Federal Reserve officials: Fed Vice Chairman Donald Kohn will moderate a panel discussion Saturday at Princeton University.

 
   OPEC Not Likely To Cut Production Again 
 

With oil prices hovering near $60 a barrel and some OPEC members breaking quota pledges, few analysts see the cartel approving new cuts at its meeting Thursday beyond the 4.2 million barrels a day authorized last year. "OPEC will most likely simply reiterate their call for better compliance, as they did at the last meeting," said Michael Wittner, global head of oil research at Societe Generale in London.

 
   Freddie Mac To Sell $1B In Mortgage Bonds 
 

Freddie Mac (FRE) is expected to sell nearly $1 billion of commercial mortgage bonds backed by multifamily loans on Tuesday. This would be the first time that a commercial mortgage bond is sold with the backing of a government-sponsored enterprise. It also would be the first commercial mortgage bond deal in nearly a year. So far, both Freddie and Fannie Mae (FNM), have held multifamily loans that they purchase on their books without securitizing them. This move is expected to free up Freddie's capital, so it can invest more in multifamily loans.

 
   Microsoft To Demonstrate Search Engine 
 

Microsoft Corp. (MSFT) is expected to show a new version of its Internet search engine next week, in a renewed effort by the company to compete against Google Inc. (GOOG). The software giant plans to demonstrate its new search engine publicly for the first time at D:All Things Digital, a technology conference in Carlsbad, Calif., put on by the Wall Street Journal, which is owned by News Corp. (NWSA). The new search engine, which has been in private tests within Microsoft for months, is designed to better organize search results for consumers to minimize the amount of time they spend clicking around Web pages looking for information.

 
   Pelosi Leads Congress Trip To China 
 

House Speaker Nancy Pelosi, one of the most vocal critics of China, will visit that country next week, heading a delegation of congressional members to Beijing and Shanghai. The visit is especially sensitive because it comes just 10 days before the 20th anniversary of the 1989 uprising on Tiananmen Square, where pro-democracy protests in 1989 led to a government crackdown that killed hundreds of people. Pelosi is scheduled to give the keynote address at an environmental energy forum.

 
   Palestinian Leader Heads To Canada, US 
 

Palestinian President Mahmud Abbas is scheduled to meet with Canadian Prime Minister Stephen Harper In Ottawa next week, before going to Washington. He will meet with President Barack Obama on Thursday.

Obama, who met with Israeli Prime Minister Benjamin Netanyahu this week, plans to lay out his views on the Arab-Israeli conflict in a major address to the Islamic world in Cairo in June.

 
   G8 Energy Ministers To Meet 
 

Energy ministers from the Group of Eight industrialized nations will meet Sunday and Monday in Rome. The event also will be attended by energy ministers from 16 other countries, who will discuss joining multinational initiatives for developing technologies on low-carbon energy sources. Also on the agenda is a new report by the International Energy Agency that says "plunging" energy investment because of the recession could pave the way for oil-price surges within three years.

 
   Markets Closed Monday For Holiday 
 

Bond markets close early Friday, and all markets as well as government offices and many businesses in the U.S. will be closed Monday for the Memorial Day holiday. The Treasury also delayed its sale of three-month and six-month bills to Tuesday because of the holiday.

Markets, banks, businesses and government offices are will be closed for a holiday in the U.K.

 
   Conferences 
 

Among the significant conferences next week are Barclay's Capital Wireline and Wireless Conference on Wednesday and Thursday in New York; Deutsche Bank Securities Energy & Utilities Conference from Wednesday through Friday in Miami; Stanford C. Bernstein & Co. Strategic Decisions Conference from Wednesday through Friday in New York; and Cowen and Co. Technology Media & Telecom Conference on Wednesday and Thursday in New York.

-By Kathy Shwiff and John Kell, Dow Jones Newswires; 201-938-5975; kathy.shwiff@dowjones.com