The S&P 500 futures currently trade seven points below fair value.
Today's economic data is limited to the 10:00 ET release of the NAHB Housing Market Index for August (Briefing.com consensus 34).
This week will be lighter on both data and earnings reports, though a slate of retail stores will report their earnings, including Target (TGT 103.99, +0.97, +0.9%) Wednesday before the open and Walmart (WMT 100.27, +0.27, -0.3%) before the open on Thursday.