The major U.S. index futures are pointing to a higher opening on Monday, with sentiment reflecting slight optimism following the previous session’s sharp retreat. A Commerce Department report showed a bigger than expected increase in retail sales, while a report released by the New York Federal Reserve showed that manufacturing conditions in the New York region deteriorated. The mixed economic reports may lead to some indecision among traders. U.S. stocks retreated in the week ended November 12th, pulling back from their highest level in more than 2 years, as traders used Chinese rate hike fears as an excuse for profit taking. Additionally, the dollar’s strength also weighed on stocks. Last Monday, the major averages traded in an insipid fashion before closing mixed, with the Dow Industrials and the S&P 500 Index closing lower, while the Nasdaq Composite ended modestly higher. Stocks went about in a listless way on Tuesday amid a lack of any major catalysts before closing modestly lower. The major averages see-sawed their way through Wednesday’s session, as traders reacted nervously to the G20 meeting due over the subsequent two days. In the process, they largely ignored a positive jobless claims report, which was released a day earlier than usual due to Thursday’s government holiday. Cisco’s (CSCO) lackluster guidance weighed on the major averages on Thursday, and consequently, they closed lower. Fears about China implementing further tightening measures triggered an across the board sell-off on Friday, especially after the Chinese inflation data released mid-week suggested a buildup in pricing pressure. For the week, the Dow Industrials ended down 2.20% and the S&P 500 Index lost 2.17%, while the Nasdaq Composite fell 2.36%.

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