us stock index futures were unchanged in overnight trading monday after the major averages started the week with muted moves as investors digested a jump in yields futures contracts tied to the dow jones industrial average gained 18 points sp 500 futures were up 003 while nasdaq 100 futures added 004 during regular trading the dow dipped about 13 points or 004 for its fourth negative session in the last five at the high of the day the 30stock index gained about 136 points the sp 500 finished the day unchanged at 468287 the benchmark index moved between gains and losses during the session at one point gaining 03 while also trading 021 lower the nasdaq composite dipped 004 the russell 2000 was the relative underperformer declining 045 stocks move came as interest rates rose with the yield on the 10year treasury note topping 162 while the 30bear treasury bond rose above 2 inflation fears are weighing on the market after last months consumer price index posted its largest annual increase in more than three decades paul christopher head of global market strategy at wells fargo investment institute said he believes inflation will moderate in 2022 but that the path to lower inflation will begin with higher inflation in the front half of the year the stickier drivers of inflation are likely to persist but our base case is that they will not outweigh the improvement we expect in the transitory elements he wrote in a note to clients walmart kicks off a busy week of retail earnings on tuesday before the market opens which will give investors a look at how much consumers are spending home depot also reports before the market opens while target will post results on wednesday a slew of economic data will be released on tuesday including retail sales figures for october economists surveyed by dow jones are expecting sales to have jumped by 15 last month compared with 07 in september industrial production numbers will also be released as well as the nahb housing market index survey on monday afternoon president joe biden signed the 1 trillion bipartisan infrastructure bill into law the package includes funding for transportation broadband and utilities the major averages are coming off their first negative week in six but stocks are still trading around alltime high levels as wall street strategists look to 2022 some including morgan stanleys michael wilson believe the picture looks muted with financial conditions tightening and earnings growth slowing the 12month riskreward for the broad indices looks unattractive at current prices he said monday in a note to clients however strong nominal gdp growth should continue to provide plenty of good investment opportunities at the stock level for active managers he added his 12month base target for the sp 500 is 4400 which is 6 below where the index closed on monday