US pre-open: Futures little changed ahead of the bell

Wall Street futures were mostly lower ahead of the open on Monday as market participants awaited key inflation data, the beginning of earnings season and a confirmation hearing for Federal Reserve chairman Jerome Powell scheduled for later in the week.

As of 1200 GMT, Dow Jones futures were up 0.01%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.09% and 0.28% lower, respectively.

The Dow closed 4.81 points lower on Friday after December's all-important non farm payrolls figures came in well and truly short of expectations.

While Monday looked set to be a relatively quiet day on the Street, investors were looking ahead to the release of the consumer price index on Wednesday, with the index expected to show a year-on-year increase of 7.1%. The producer price index will follow on Thursday.

Also in focus, Powell will testify at his nomination hearing before a Senate panel on Tuesday, with the Fed head potentially providing important information regarding the future of US monetary policy, as was the beginning of earnings season at the tail end of the week, with banking giants JPMorgan Chase, Citigroup and Wells Fargo all set to release their latest set of quarterly results on Friday.

High-growth names continued to struggle ahead of the bell on Monday as interest rates moved higher yet again, with the yield on the benchmark 10-year Treasury note hitting 1.775%, after markets moved to price in a roughly 50% chance the central bank will raise interest rates four times in 2022 - more hawkish than had previously been anticipated.

On the macro front for Monday, November wholesale inventories figures will be published at 1500 GMT, while Federal Reserve Bank of Atlanta president Raphael Bostic will deliver a speech at 1700 GMT.

No major corporate earnings were slated for release on Monday.