Investing.com-- U.S. stock index futures moved little in evening deals on Monday following a languid session on Wall Street as anticipation of key inflation data later this week deterred any big trades.
But Wall Street appeared to have found some calm after wild swings last week, where speculation over a U.S. recession ramped up volatility in stock markets.
S&P 500 Futures steadied at 5,471.0 points, while Nasdaq 100 Futures were flat at 18,645.25 points by 19:06 ET (23:06 GMT). Dow Jones Futures rose slightly to 39,402.0 points.
CPI inflation awaited for more rate cut cues
Focus this week is squarely on consumer price index inflation data, due on Wednesday, for more cues on the U.S. economy.
Analysts expect inflation to have fallen slightly in July from the prior month, increasing confidence that inflation is easing and giving the Federal Reserve more headroom to begin trimming interest rates.
Traders are split between a 25 and 50 basis point cut in September, with any signs of cooling inflation likely to give more weightage to a bigger cut.
But uncertainty before the reading kept Wall Street trading sideways, with investors especially cautious after increased volatility last week.
The S&P 500 ended flat at 5,344.39 points, while the NASDAQ Composite rose 0.2% to 16,782.57 points on Monday. The Dow Jones Industrial Average fell 0.4% to 39,357.01 points.
Beyond the CPI reading, industrial production and retail sales data is also due later this week, and is set to offer more cues on the economy. Any signs of cooling activity, while furthering the case for interest rate cuts, are also likely to ramp up concerns over slowing economic growth.
Retailer, chipmaker earnings due this week
While the second-quarter earnings season has mostly wound down, earnings from major retailers Home Depot Inc (NYSE:HD) and Walmart Inc (NYSE:WMT) are due this week.
The two are set to offer more cues on strength in consumer spending, which in turn ties into the outlook for inflation and the economy.
Strong consumer spending has mostly underpinned U.S. inflation this year, despite pressure from high interest rates.
More chipmaking earnings are also due this week, with Applied Materials Inc (NASDAQ:AMAT) set to report on Thursday.