On Monday, US stock index futures increased as retailers prepared to unwind a better-than-feared quarterly returns season, while the countdown to Election Day was set to initiate with the Democratic National Convention opening later in the day. 

On Friday the benchmark for S&P 500 closed below its pre-pandemic record high as Wall Street reassembled lost steam with a grasp of data indicating an unstable recovery for the world’s largest economy.

However, statistics this week are expected to indicate another boost in housing starts as demand rises for single-family homes in the suburbs, in turn assisting sales of home improvement chains such as Home Depot Inc (HD) and Lowe’s Companies Inc (LOW). 

The retailers, along with Target Corp (TGT), Kohls Corp (KSS) and Walmart Inc (WMT) are due to report second-quarter returns later in the week.