BY THE NUMBERS

Stock futures were largely flat, following the worst start to a year since 2016, which was also the last time the Dow, S&P 500 and Nasdaq posted January losses.  Although the major averages did finish Monday trading well off their worst levels, the Dow and S&P 500 still posted their largest one-day declines since Oct. 28. The Dow dropped 1.3%, while the S&P 500 and tech-heavy Nasdaq both fell 1.5%. (CNBC)

Wall Street's attention will in large part be focused on today's Georgia runoff elections that will determine control of the Senate. Both Democratic challengers, Jon Ossoff and Rev. Raphael Warnock, must beat GOP incumbents, Sens. David Perdue and Kelly Loeffler, to capture the majority for their party. (CNBC)

* Senate runoffs in Georgia will shape what Biden can achieve in the White House (CNBC)

The Institute for Supply Management is out with its December manufacturing index at 10 a.m. ET, which is expected to fall slightly to a 57 reading. Meanwhile, automakers release their fourth quarter sales figures for 2020 throughout the morning, with analysts surveyed by Edmunds expecting an overall 5.7% drop on U.S. sales compared to the same quarter in 2019.