us stock index futures crept higher during overnight trading monday after the major averages moved between gains and losses during regular trading as the market awaits key inflation data later this week futures contracts tied to the dow jones industrial average added 01 sp 500 futures gained 016 while nasdaq 100 futures were up 024 during regular trading the sp 500 slid 037 while the nasdaq composite shed 058 both traded higher earlier in the day before reversing course during the final hour of trading each index managed to close above its worst level of the session however the dow jones industrial finished mondays trading session just 1 point higher at one point the 30stock benchmark had added 235 points at the lows of the day the dow declined by about 95 points us stocks will struggle for direction until the latest inflation tilts markets expectations as to how aggressive the fed will tighten into what is still deemed as an overvalued stock market said oandas edward moya on thursday the labor department will release januarys consumer price index data the reading follows a strongerthanexpected january jobs report which has led to speculation that the federal reserve could be more aggressive when it comes to hiking rates the inflation data is expected to show that prices rose 04 in january for a 72 gain from one year ago bank of america said monday that the federal reserve could implement seven quarterpercentagepoint rate hikes this year the tumultuous market action continues as the combination of fed policy uncertainty and economic transition remains in focus canaccord genuity said monday in a note to clients unfortunately this is the environment we are going to be in for a while as the monetary and economic midcycle transition unfolds