The major U.S. index futures are currently pointing to a higher open on Monday, with stocks likely to extend the rebound seen over the past several sessions.

Easing concerns about the outlook for economy may lead to continued buying on Wall Street following the steep drop seen earlier this month.

Overall trading activity may be somewhat subdued, however, as traders look ahead to the release of several key economic reports later this week.

The Labor Department is scheduled to release reports on producer and consumer price inflation on Tuesday and Wednesday, respectively, with the data likely to impact the outlook for interest rates.

The Federal Reserve is widely expected to cut interest rates next month, with CME Group’s FedWatch Tool currently indicating a split regarding the probability of a quarter or half point rate cut.

In light of recent concerns about the outlook for the economy, traders are also likely to keep a close eye on reports on retail sales and industrial production.

Following the rally seen during Thursday’s session, stocks turned in a relatively lackluster performance during trading on Friday but managed to end the day mostly higher.

The major averages finished the session off their highs of the day but still in positive territory. The Dow edged up 51.05 points or 0.1 percent to 39,497.54, the Nasdaq climbed 85.28 points or 0.5 percent to 16,745.30 and the S&P 500 rose 24.85 points or 0.5 percent to 5,344.16.

The higher close on Wall Street came as stocks continued to recover from recent selling sparked by concerns about the outlook for the U.S. economy.

With the upward move seen over the course of the session, the Nasdaq and the S&P 500 largely offset the steep losses posted on Monday, closing only slightly lower for the week.

For the week, the S&P 500 edged down by less than a tenth of a percent and the Nasdaq dipped by 0.2 percent, while narrower Dow slid by 0.6 percent.

The major averages still remain well off their recent highs after also moving sharply lower last Thursday and Friday.

Traders may have been reluctant to make more significant moves amid a lack of major U.S. economic on the day ahead of the release of several key reports this week.

Among individual stocks, shares of Expedia (NASDAQ:EXPE) moved sharply higher after the travel technology company reported better than expected second quarter results.

Cloud computing company Akamai Technologies (NASDAQ:AKAM) also saw significant strength after reporting second quarter results that beat estimates and raising its full-year guidance.

On the other hand, shares of e.l.f. Beauty (NYSE:ELF) came under pressure even though the company reported better than expected fiscal first quarter results.

Pharmaceutical stocks showed a strong move to the upside on the day, driving the NYSE Arca Pharmaceutical Index up by 1.8 percent.

Notable strength was also visible among gold stocks, as reflected by the 1.1 percent gain posted by the NYSE Arca Gold Bugs Index. The strength in the sector came amid a modest increase by the price of the precious metal.

Software and brokerage stocks also saw some strength, while most of the other major sectors ended the day showing only modest moves.