ESV Ensco Plc New

By Ellie Ismailidou and Barbara Kollmeyer, MarketWatch

PCE index still below the Fed's inflation expectations

U.S. stock futures pointed to gains for Wall Street Monday, after snapping Thursday a five-week winning streak, as a rise in oil prices boosted the main indexes.

Futures held on to gains after a flurry of U.S. economic data came in on the soft side but still within economists' expectations.

Inflation fell slightly (http://www.marketwatch.com/story/consumers-spend-a-little-more-save-a-little-more-in-february-2016-03-28) last month amid another drop in gasoline prices, the government reported Monday.

The PCE index, the Federal Reserve's preferred inflation barometer, rose just 1% in the past 12 months ended in February, down from 1.2% in the prior month. The Fed wants to see inflation rise closer to 2% before it raises interest rates again.

Dow Jones Industrial Average futures were up 32 points, or 0.2%, to 17,471, while S&P 500 futures added 4 points, or 0.2%, to 2,033. Nasdaq-100 futures added 13 points, or 0.3%, to 4,410.

On Thursday (http://www.marketwatch.com/story/us-stocks-set-to-break-five-week-winning-streak-as-dow-futures-fall-150-points-2016-03-24), stocks snapped a five-week winning streak, driven by losses for industrial and financial stocks, with the S&P 500 index slipping back into negative territory for the year, down 0.4%. Markets were closed Friday in observance of the Good Friday holiday.

Read:Investors await jobs, inflation data to cement Fed rate outlook (http://www.marketwatch.com/story/investors-await-jobs-inflation-data-to-cement-fed-rate-outlook-2016-03-26)

But Monday could see stocks attempt to begin a new streak as oil prices (http://www.marketwatch.com/story/oil-prices-tap-40-a-barrel-but-some-say-gains-wont-last-2016-03-28) rose following Thursday's Baker Hughes data that showed a fall in active U.S. oil rigs. Oil tapped the $40-a-barrel level early Monday in Europe, though it has since moved back off that level.

Read: 5 reasons oil is on track for biggest monthly gain in nearly a year (http://www.marketwatch.com/story/5-reasons-oil-is-on-track-for-biggest-monthly-gain-in-nearly-a-year-2016-03-28)

European markets were closed on Monday in observance of the Easter holiday, while in Asia (http://www.marketwatch.com/story/asian-stocks-edge-higher-on-global-optimism-2016-03-27), the Nikkei 225 index finished higher and Shanghai Composite went the other way. The dollar was pushing higher against the yen, while gold prices slipped lower.

A data-heavy week: Pending home sales for February are due at 10 a.m. Eastern.

Inflation readings and jobs data will be the highlights for investors this week, along with a major speech from Federal Reserve Chairwoman Janet Yellen on Tuesday to the Economic Club of New York.

Read:U.S. job gains keeping economy from grinding to a halt (http://www.marketwatch.com/story/us-job-gains-keeping-economy-from-grinding-to-a-halt-2016-03-27)

Stocks to watch: Avon Products Inc. (AVP) said it has reached a deal (http://www.marketwatch.com/story/avon-makes-deal-with-activist-investors-to-avoid-proxy-fight-2016-03-28) (http://www.marketwatch.com/story/avon-makes-deal-with-activist-investors-to-avoid-proxy-fight-2016-03-28) with activist investors that will allow the beauty-products retailer it to sidestep a proxy fight.

Time Warner Inc. (TWX) could be in focus after "Batman v Superman: Dawn of Justice" reaped the fourth-biggest global opening in box-office history (http://www.marketwatch.com/story/batman-v-superman-posts-4th-biggest-global-opening-ever-2016-03-27) over the weekend, raking in $170.1 million in the U.S. alone.

Ensco PLC (ESV) shares fell 4.2% ahead of the bell after the company was downgraded to "negative" from "neutral" at Susquehanna.

(END) Dow Jones Newswires

March 28, 2016 08:53 ET (12:53 GMT)

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