5 things to know before the stock market opens Monday

U.S. stock futures dropped Monday after a rough first trading week of the new year as tech stocks were battered by rising bond yields

as inflation rises and unemployment drops. In minutes from its December meeting, the Fed revealed talk about a balance sheet reduction in addition to signaling rate increases and an accelerating tapering. Fed Chairman Jerome Powell is set to testify Tuesday at his nomination hearing before a Senate panel.

, consumer and wholesale inflation reports are out Wednesday and Thursday. Economists expect another hot month for both readings, though some economists believe inflation is close to its peak. November's headline CPI of 6.8% was the highest since 1982. Retail sales are out Friday. Earnings season also begins, with

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