S&P futures vs fair value: -1.0. Nasdaq futures vs fair value: +3.0.

While the futures market still doesn't signal a definitive tone as to how stocks may open, signaling a relatively flat start for stocks, the one thing investors can be certain of is that trading will continue to be volatile. The absence of potentially troubling economic data is helping to clear the way for a decent recovery and offer some semblance of stabilization following last week's sizable pullback; but tomorrow brings the Fed's favored inflation gauge (i.e. core PCE) and Friday's monthly payrolls data will likely garner even more attention than usual given its ability to influence monetary policy.