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The S&P 500 futures are up 11 points and are trading 0.2% above fair value, the Nasdaq 100 futures are up 33 points and are trading 0.2% above fair value, and the Dow Jones Industrial Average futures are up 48 points and are trading 0.2% above fair value.

There's a positive bias in early trading following last week's turbulent action in equities. Pre-open gains in mega cap names have contributed to the upside bias.

This week's calendar features influential economic data. The July Producer Price Index (on Tuesday), the July Consumer Price Index (on Wednesday), and the July Retail Sales report (on Thursday) are among the potentially market-moving events. Today's data include the July Treasury Budget at 2:00 p.m. ET.

The 10-yr note yield is up two basis points to 3.96% and the 2-yr note yield is up one basis point to 4.05%.