Stock futures fall ahead of inflation data, Powell’s Senate hearing

• Dow Jones Industrial Average futures were flat 

• S&P 500 futures dropped 0.11 %

• Nasdaq futures plummeted 0.28 %

U.S stock futures decline on Monday as investors are keeping an eye on new inflation data as well as a senate hearing for Federal Reserve Chairman Jerome Powell.

Dow Jones Industrial Average futures were flat on Monday. The S&P 500 futures dropped 0.11 %, while the Nasdaq futures plummeted 0.28 %.

The futures movement came as markets finished off a solid last week of 2021. The S&P 500 increased about 27% for the year, while the Nasdaq Composite and Dow also increased significantly. 

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The consumer price index will be released on Wednesday and will show a 7.1 percent year-over-year increase, according to Dow Jones forecasts.

Powell's Senate confirmation hearing is slated for 10 a.m. ET on Tuesday. The Senate hearing for Fed Governor Lael Brainard's nomination to the position of vice-chair of the central bank is scheduled for 10 a.m. ET on Thursday.

The fourth-quarter earnings season for big U.S. financial corporations is set to kick off this week, with JPMorgan Chase, Citigroup, Wells Fargo, and BlackRock releasing results.

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The new year begins with more uncertainty about the Covid-19 pandemic. The omicron variety contributed to thousands of flight cancellations throughout the holiday season. For the first three weeks of January, several corporations have urged employees to work from home.

Bond Market 

The benchmark 10-year Treasury note rate jumped to 1.771%. The 30-year Treasury bond yield gained to 2.127 %.

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Oil Market

Brent crude futures, the global oil benchmark decreased 0.51 percent to $81.31 a barrel. WTI Crude oil prices dipped 0.60 percent to $78.30 per barrel.