US stocks on track to open lower, eyes on US inflation data

S&P 500 futures are down 0.43%, Dow Jones futures drop 0.19%, and Nasdaq futures lose 0.77%.

S&P 500 (SPX) lost 0.1% on Monday, Dow Jones (DJIA) gained 0.33% and Nasdaq (IXIC) fell 0.30%.

What to know before stock market opens

• The Utilities Sector was the best-performing major sector in the S&P 500 on Monday, rising 1.14% on the day. On the other hand, the Technology Sector sank 0.77%.
• V.F. Corp (VFC) rose 14% to $17.43 as the top gainer of the first trading day of the week. The biggest decliner is Motorola Solutions Inc. (MSA), down over 3.2%.
• The Federal Reserve Bank of New York's latest Survey of Consumer Expectations showed on Monday that the US consumers' one-year inflation expectation held steady at 3%.
• 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%.
• The BLS will release January CPI data ahead of the opening bell on Tuesday. The headline annual CPI is forecast to rise 2.9% 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 3.7%. 
• The CBOE Volatility Index (.VIX) rose 7.7% on Monday and was up more than 1% at the time of writing on Tuesday.
• 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.
• Airbnb Inc. (ABNB) and MGM Resorts International (MGM) are among top companies that will release earnings reports after the closing bell.
• Later in the week, January Retail Sales, Industrial Production and Producer Price Index (PPI) data will be featured in the US economic calendar.