Here come personal income and spending ...

The Bureau of Economic Analysis is set to release its monthly report on personal income and spending at 8:30 a.m. ET.

Economists forecast that income rose 0.3% in March, while consumer spending increased by 0.2%, according to Bloomberg.

On Friday, the advance report on first-quarter GDP showed that consumer spending rose just 0.3%, the lowest since Q4 2009. Lower spending on durable goods, especially vehicle and parts dealers, was a major contributor to the fall.

The upcoming report will also include data on personal consumption expenditures, a gauge of consumer purchases that the Fed prefers as an inflation gauge. The PCE deflator is expcted to fall 0.2% month-on-month. Compared to a year ago, it's forecast to slip to 1.9% from 2.1%, which was the first time it exceeded the Fed's 2% target in five years.

More to come ...