Here Comes CPI...

At 8:30 a.m., we'll get Consumer Price Index figures for January.

Economists expect prices climbed 0.1% in January and 1.6% year-over-year.

"Retail gasoline prices rose 1% in January, but that was less than normal seasonality and should be converted into a 2% decline after seasonal adjustment," Morgan Stanley's Wieseman wrote clients.

"Continued softness in food prices should also restrain the headline CPI," he wrote.

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