After Friday's shake-out, investors look set to start the week quietly licking their wounds, after some indifferent economic data from China.
Ahead of the release on Wednesday of the minutes from the most recent meeting of the central bank's policy makers, the Dow Jones is tipped to open five points or so lower after shipping 185 points on Friday.
The broader-based S&P 500 fell 18 points on Friday and if spread-betting quotes are to be believed it is set to open just a smidgen lower today.
Although sentiment is likely to be affected by Chinese economic indicators for investment, factory output and retail sales figures released on Saturday all undershooting expectations, an uplift in oil prices is likely to offer support.
“Oil has also been range-bound for a while now but it seems that a suggestion by Goldman Sachs that the oil market is no longer oversupplied due to a number of supply disruptions and bankruptcies in the US, has propelled prices to a six month high. The next key level for Brent will be around $51-51.50, while $48.50 in WTI may offer some resistance,” said Craig Erlam at forex trading platform operator OANDA.
On the other hand, this morning's Empire State general business conditions index for May did nothing to encourage the bulls. The index moved nine points into negative territory after a +9.6 reading in April.
Orders and shipments both lapsed into the red in May.
On the corporate front, there has been a good deal of interest in news that legendary investor Warren Buffett has used his investment vehicle Berkshire Hathaway Inc (NYSE:BRK.A) has bought 9.8mln shares in iPhone maker Apple Inc (NASDAQ:AAPL).
The shares were purchased at an average price of around $109 a share.
Shares in Apple hit a 52-week low on Thursday but were up 1.7% at 92.07 in pre-market trading.