U.S. stock futures showed minimal fluctuations on Sunday night. The S&P 500 and Nasdaq Composite had just completed their third consecutive winning week, with investors eagerly awaiting key inflation data to be released this week. This data is expected to provide crucial insights into the future direction of the market. Dow Jones Industrial Average futures rose by 11 points, equivalent to 0.02%, while S&P 500 futures gained 0.02% and the Nasdaq 100 futures remained flat. The previous Friday saw the S&P 500 and Nasdaq close at new records, with weekly increases of 0.96% and 3.34% respectively. However, the Dow was the only laggard, closing the week down 0.6%. These movements followed the November jobs report, which showed stronger-than-expected growth but not enough to dampen investor hopes of a Federal Reserve interest rate cut this month. The CME FedWatch Tool indicates that markets are pricing in an 85% chance of a quarter-point rate cut at the December 18 meeting.

Expert Insights on the Fed's Actions

Wharton School's finance professor Jeremy Siegel shared his views with CNBC's "Closing Bell" on Friday. He stated that "Everything else is working exactly the way the Fed wants. I think we're going to have one rate cut on that December 18 meeting, but truthfully, I think only two or three rate cuts next year. I think this strength could last." This provides valuable perspective on the potential future actions of the Federal Reserve and its impact on the stock market.

Inflation Data and Market Expectations

The November consumer price index, due out on Wednesday, is expected to show a slight uptick in pricing pressures. Economists polled by Dow Jones anticipate a 0.3% monthly increase and a 2.7% yearly increase. This would be an upward trend from the previous month's figures of 0.2% and 2.6% respectively. These expectations add to the market's anticipation and uncertainty surrounding inflation and its potential effects on stock prices.

Corporate Earnings and Market Activity

Corporate earnings continue to be a focus on Monday, with Oracle's results expected after the market close. This will provide further insights into the financial health of individual companies and their impact on the overall market. In addition, on Monday, investors will await October wholesale inventories data, which is due at 10 a.m. ET. This data will help in understanding the supply and demand dynamics in the economy and its implications for stock futures.