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The U.S. Labor Department's Bureau of Labor Statistics will release inflation numbers for the month of January. The consumer price index $(CPI.UK)$ likely rose 0.3% in January, following a 0.4% gain in the prior month, while the year-on-year CPI is expected to have remained unchanged at 2.9%. Excluding the volatile food and energy components, the CPI is expected to have risen 0.3% in the month. In the 12 months through January, the so-called core CPI likely eased to 3.1% from 3.2% in December.

Federal Reserve Chairman Jerome Powell will deliver semiannual monetary policy testimony before the House Financial Services Committee in Washington. (1000/1500) Meanwhile, Atlanta Fed President Raphael Bostic is scheduled to speak on the economic outlook in a moderated conversation before the Atlanta chapter of the National Association of Corporate Directors. (1200/1700) Additionally, Fed Board Governor Christopher Waller is set to speak on "stablecoins" before the event, "A Very Stable Conference: Stablecoin Infrastructure for Real World Applications in San Francisco." (1705/2205)

Cisco Systems is expected to post an increase of 8.5% in its second-quarter revenue, benefiting from a pick up in enterprise spending on networking equipment.

CVS Health will report its fourth-quarter results before markets open. The focus will be on the conglomerate's medical costs and annual forecast.

Biogen is set to report fourth-quarter earnings and provide a full-year forecast, after a 40% decline in its stock price in 2024. Executives are expected to provide details on demand for Leqembi, the Alzheimer's disease drug it sells with Eisai, as investor focus remains squarely on the sales trajectory of the therapy.

CME Group is expected to post a higher profit, helped by stronger hedging activity in a volatile market.

Bank of America CEO Brian Moynihan is expected to speak at the BofA Securities Financial Services Conference.

Reddit is scheduled to report fourth-quarter revenue. It is expected to report a 16% rise in quarterly revenue sequentially, according to Wall Street estimates, driven by strong digital advertising spend on its platform during the crucial holiday shopping season when brands spend heavily to promote their products and services.

Kraft Heinz is expected to post a decline in fourth-quarter revenue, hurt by slower demand for its high-priced products including sauces and meat cold cuts. Investors will look for comments on pricing actions, impact on demand and volumes as well as annual forecasts.

Interpublic Group is expected to report a fall in revenue in the fourth quarter, hurt by lower ad spending across major markets like the United States.

Rollins is expected to post a rise in fourth-quarter revenue, driven by strong demand owing to warm and dry conditions supporting demand for residential and commercial pest control services. Investors will look out for comments on advertising, staff spending and new home sales driving demand.

Restaurant Brands is expected to post a rise in its fourth-quarter revenue as the Burger King parent benefits from strong demand, particularly at its Tim Hortons coffee outlets. Investors will watch out for comments on consumer spending trends on dining out, as well as their response to value meals from fast food chains.

In Latin America, Brazil's statistics agency IBGE will release the country's service sector numbers for the month of December. The service sector activity is expected to have turned positive at 0.1% in December, after falling 0.9% in the month prior. On an annual basis, service sector grew 3.5% in December.

(Compiled by Mohammed Nihaal T S in Bengaluru; Edited by Sahal Muhammed)

((Mohammed.NihaalTS@thomsonreuters.com;))