Kicking off the week, Monday is set to bring two batches of data during trade: durable goods and the Dallas Fed manufacturing survey, due out at 8.30 a.m. ET and 10.30 a.m. ET respectively.

Meanwhile, investors will also be on the lookout for results in the auctions sphere. On Monday, the U.S. Treasury is set to auction $26 billion in two-year notes, the first of three major sales this week.

Elsewhere, at a seminar at the University of Technology Sydney, San Francisco Fed President John Williams told an audience that the U.S. Federal Reserve needed to keep increasing rates gradually to keep the economy stable, as if the Fed delays too long, the “economy will eventually overheat”, according to Reuters.

“Gradually raising interest rates to bring monetary policy back to normal helps us keep the economy growing at a rate that can be sustained for a longer time,” said Williams in Australia.

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