On the data front, the Chicago Fed's National Activity Index for September is set to come out at 8:30 a.m. ET.
While no major speeches are expected to take place by members of the U.S. Federal Reserve on the first trading day of the week, discussion about who should lead the U.S. central bank from early 2018 is likely to be on the lips on many investors Monday, as a verdict looms.
At present, five individuals have been named as potential candidates to take on the position of Fed chair — a role currently held by Janet Yellen. However, recent news suggests the number could be narrowing.
In an interview aired in recent days, President Donald Trump acknowledged that the markets expected he would likely choose Stanford University economist John Taylor or Fed Governor Jerome Powell for the top role. One of the two could end up being put up for the position of Fed chair, while the other could be nominated for the vice chair role, an FBN report suggests. A decision is expected to be made before the president's trip to Asia in early November.
In politics, Trump is expected to meet with Singapore's Prime Minister Lee Hsien Loong at the White House on Monday. The two leaders will likely comment upon how each nation can strengthen their ties on a political, economic, and social basis, as well as discussing security.