Stock futures (YM=F, NQ=F, ES=F) are moving higher in Monday's premarket trading, as markets prepare for a busy week filled with key economic data and the start of first quarter earnings season.

This week, closely watched inflation metrics, including the Consumer Price Index (CPI), Producer Price Index (PPI), and initial jobless claims, will be released. These data points will provide insight into the strength of the economy and could signal the Federal Reserve's next moves regarding interest rate cuts.

In addition to the economic data, the earnings calendar is heating up, with Delta Air Lines (DAL) kicking off the first quarter reporting season. Other notable companies set to report include financial giants BlackRock (BLK) and Wells Fargo(WFC).

Yahoo Finance's Seana Smith breaks down the details.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

Editor's note: This article was written by Angel Smith

Video Transcript

- Today's top story. We are seeing some movement here in the futures market. This coming ahead of some key economic data that we are going to be getting later this week and Q1 earnings season, which is about to kick off. So let's take a look at how futures are trading ahead of the open.

We're just about 28 minutes here until the opening bell. And you're looking at some gains here across the board. The Dow on track to actually open in positive territory now. So reversing the bit of the movement that we saw not too long ago earlier this morning. You've also got the NASDAQ 100 futures moving to the upside here.

And the S&P 500 also pointing to gains at the open. When we talk about the S&P 500, the next critical level that many investors are watching on the street is 5,300. We have seen a number of strategists out over the last several weeks raising their year end targets for the S&P 500. Wells Fargo becoming the latest out this morning.

So again, some movement higher in the futures market. Let's also take a look at what is to come later this week. Because starting off on Wednesday, we are going to be getting some key economic data. We've got CPI print out on Wednesday. Also on the earnings front, we're going to be hearing from Delta the first earnings report, big earnings report of the Q1 earnings season. So very critical there.

When you take a look at Thursday, a lot of key economic data that's also out. You've got initial jobless claims. That's going to be in focus, especially on the heels of that very hot print that we got on Friday. In terms of the headline number at least, of course, you can argue the flip side of that saying that we did see some improvement on wages.

We also get a reading on PPI followed by Constellation Brands. Constellation Brands will be reporting earnings on Thursday. And then Friday, it's going to be a busy morning for investors, for strategists out there, economists. We've got the University of Michigan's Consumer Sentiment. That is going to be released on Friday.

Really giving us an updated view of exactly how consumers are feeling at this point. We know inflation obviously remaining much stickier than we had anticipated up until now. And then on the earnings front, you've got four logos here. That is really going to be kicking off a bank earnings for the first quarter.

We've got BlackRock Citi, Wells Fargo, and JP Morgan. So that's going to give us a better sense maybe of what we could be expecting this earnings season. And also obviously, the first good look that we are going to be getting on the health of some of the largest US banks here in the first quarter, Jared.