US equity futures were little changed on Monday morning after major indexes posted their biggest weekly losses for the year last week.
As of 8.00 am, Dow Jones Industrial, S&P 500 and Nasdaq futures were each trading in a 0.1% range.
Personal consumer expenditure (PCE) data, the Federal Reserve's (Fed) measure of inflation, released last week proved that price pressures in the US are still high.
This in turn reinforces market expectations that the Fed will continue to raise interest rates higher.
The strong data also fueled a market sell-off across most other equities, with the MSCI world equity index, which tracks shares in 50 countries, shedding 1.17%. European stocks fell 1.04%.
This week, market players will monitor durable goods order data, pending home sales, CB consumer confidence, US manufacturing and services PMIs.
This includes speeches from several Federal Reserve (Fed) policymakers Lorie Logan, Raphael Bostic and Thomas Barkin who will offer their current views on the economy and current policy.
In terms of earnings, investors will focus on profit reports from several major retailers. Target, Costco, Lowe's and Macy's are some of the big names set to report earnings this week.
