US pre-open: Stocks mixed as traders await CPI figures
Wall Street futures were pointing to a mixed open ahead of the bell on Monday as both the S&P 500 and Nasdaq Composite attempt to bounce back from their worst weekly showing since December.
As of 1200 GMT, Dow Jones futures were down 0.05%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.12% and 0.43% firmer, respectively.
The Dow closed 169.39 points higher on Friday as major indices wrapped up a volatile week with a mixed performance.
Stocks headed both up and down prior to the open on Monday as market participants looked ahead to Tuesday's consumer price index, with traders hoping to gain some kind of insight into the pace of inflation and to figure just what the Federal Reserve may do next in order to combat it.
Scope Markets' James Hughes said: "Mounting pessimism that the Fed still has some way to go before peak interest rates are reached is taking a toll on Wall Street.
"There's concern that with the improving outlooks for growth, the FOMC can't afford to ease off too quickly here, although the inflation data that's due for release on Tuesday plus the retail sales data on Wednesday could well provide some useful insight as to just how strong demand is.
On the macro front, Federal Reserve banker Michelle Bowman will deliver a speech at 1300 GMT.
In the corporate space, Avis Budget and Denny's will both report earnings after the close of trading.
Coca-Cola, Marriott, Airbnb, Kraft Heinz, and Paramount will all publish their latest quarterly earnings figures before the week is out.
Reporting by Iain Gilbert at Sharecast.com