US stocks set to open flat ahead of key inflation data

S&P 500 futures are unchanged, Dow Jones futures trade flat, and Nasdaq futures hold steady near the previous week's closing level.

S&P 500 (SPX), Dow Jones (DJIA), and Nasdaq (IXIC) indexes closed on Friday with a 0.57% gain, a 0.14% drop, and a 1.25% rise, respectively.

What to know before stock market opens

• Nasdaq Composite rose more than 2% last week and the S&P 500 posted gains for the fourth consecutive week to post a record-high closing above 5,000. Dow Jones underperformed and was virtually unchanged for the week.
• The US Bureau of Labor Statistics (BLS) announced on Friday that it revised the monthly Consumer Price Index (CPI) increase for December lower to 0.2% from 0.3%.
• Dallas Federal Reserve (Fed) Bank President Lorie Logan said that there is no urgency to cut interest rates. Logan acknowledged that there has been "tremendous progress" on bringing down inflation but noted that she would want to see further evidence on inflation to confirm the progress is durable.
• The US Department of Labor reported that there were 218,000 Initial Jobless Claims in the week ending February 3, down from the previous week's revised 227,000.
• On Tuesday, the BLS will release January CPI data. The headline annual CPI is forecast to rise 3% on a yearly basis, at a softer pace than December's 3.4%. The Core CPI, which excludes volatile food and energy prices, is expected to increase 3.8%. 
• Arista Networks Inc. (ANET), Cadence Design Systems Inc. (DNS) and Waste Management Inc. (WM) are among top companies that will release earnings reports after the closing bell on Monday.
• Later in the week, January Retail Sales, Industrial Production and Producer Price Index (PPI) data will be featured in the US economic calendar.