S&P futures vs fair value: -1.5. Nasdaq futures vs fair value: -3.0.

Early indications suggest some of the consolidation spurred yesterday by former Fed Chairman Greenspan's warning of a dramatic correction in Chinese stocks may carry over into this morning's open for U.S. equities. Buyers are also showing some reserve heading into this week's first batch of economic data. First out will be updates on labor conditions and business investment at 8:30 ET followed by the latest read on the state of the troubled housing market at 10:00 ET.