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Housing, inflation data set to dominate Wall Street

U.S. stock index futures indicated a flat-to-lower open on Monday, with housing market indicators set to dominate this week after a run of soft economic data.

Data due for release Monday includes the National Association of Homebuilders housing index for May at 10:00 a.m. ET. April housing starts figures are due on Tuesday, followed by existing home sales numbers on Thursday.

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Trader on the floor of the New York Stock Exchange.
Brendan McDermid | Reuters
Trader on the floor of the New York Stock Exchange.

But the likely data highlight of the week will be Friday's release of April inflation data, expected to show the headline rate unchanged. The U.S. Federal Reserve will also publish minutes on Wednesday.

The run of soft economic data in the first quarter has now clearly spilled into the second quarter, with some disappointing misses in just the past week in retail sales, producer price inflation data, industrial production and consumer sentiment.

Those misses helped push market expectations for a first Fed rate hike past December and into January, with fewer market players now betting on a September rate increase.

While speaking at the Swedish capital on Monday, Chicago Fed President Charles Evans said the U.S. Federal Reserve could look at a rate hike in June if the economy is strong enough, Reuters said. His speech argued for rates to start rising in early 2016.

Evans told reporters if the Federal Open Market Committee had confidence that inflation was going to move up and that first quarter economic softness was temporary, "you could imagine a case being made for a rate increase in June."

Earnings expected on Monday include Urban Outfitters, Agilent and Momo after market close.

In Europe, stocks turned lower as renewed concerns about Greece's finances weighed on investor sentiment.

Read MoreWatch out: Greece's 'endgame' is in sight

U.S. stocks closed narrowly mixed in choppy trade on Friday, as disappointing data weighed on investor sentiment amid dollar declines and lower bond yields.

The S&P 500 gained 1.6 points to set a second record close for the week, after ending at a high on Thursday. Stocks posted mild gains for the week, with the Nasdaq the best performer.

Endo International will buy Par Pharmaceutical from private equity firm TPG for $8.05 billion in cash and stock. Par was taken private by TPG in 2012 for just under $2 billion.

Ann Inc., the parent of Ann Taylor and Loft, will be acquired by ascena retail group for $47 per share in cash and stock. Justice and Lane Bryant are among the brands current owned by ascena.

Read More Early movers: ENDP, ANN, BABA, INTC, COP, TM & more

Talks on a possible Intel purchase of Altera have resumed, according to the New York Post. The two discussed a deal earlier this year without resolution.

CNBC's Peter Schacknow and Patti Domm contributed to this report