Alcoa, the long-time aluminum producer that is transforming itself into a lightweight metal producer is set to report its fourth quarter earnings after the bell, opening a week that is set to be dominated by corporate releases.
Results from big name financials are due this week, with JPMorgan Chase and Wells Fargo due Wednesday. BlackRock, Bank of America and Citigroup on Thursday and Goldman Sachs and Charles Scwab set to report on Friday.
In terms of data, the week gets off to a quiet start after Friday's December labor market report which was solid in every respect but payrolls. The U.S. Federal Reserve's December composite labour market conditions index is out today and the latest JOLTS job openings figures due tomorrow.
Major releases later in the week include retail sales, industrial production and CPI data.
The figures from the Labor Department on Friday had the U.S. economy adding 252,000 to payrolls last month, and the November already robust gain revised higher, to 353,000. The unemployment rate, meanwhile, dropped to 5.6 percent.
But any stock gains Friday were short-lived as the report showed hourly earnings declined and investors' tracked events in France after Wednesday's massacre at Charlie Hebdo magazine in Paris.
France is recovering from last week's terrorist attacks in the capital Paris. Around 3.7 million people, including world leaders and statesmen, joined a mass rally in Paris on Sunday to remember the 17 victims of three separate attacks in Paris last week.
Europe shares were higher in morning trade on Monday, with acquisition news from the pharmaceutical sector helping to boost sentiment.
On the oil front, Brent crude and U.S. crude were at their lowest levels since April 2009 on the back of an over-supply in the market and lack of demand, and prices fell again on Monday morning.