U.S. stock futures pointed to a weak start as markets overseas traded lower.
Inflation at the producer level came in lower than expected in October. The overall Producer Price Index (PPI) held steady at 0.4%, but was well below the consensus forecast for a 0.8% increase. At the core level, the PPI actually fell 0.6% which was significantly lower than the 0.1% expected increase.
Treasury International Capital Flow data for September will be released at 9:00 am ET. Shortly after that, industrial production and capacity utilization data for October will be released. At 10:00 am ET, the National Association of Home Builders will release its housing index.
In corporate news, Wal-Mart posted higher quarterly profits and raised its earnings forecast, but U.S. same-store sales declined. Home Depot topped earnings and revenue expectations, and also raised expectations.
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