Friday's session brought PPI, Retail Sales and Consumer Sentiment figures. U.S. retail sales were unexpectedly flat in July as Americans cut back on discretionary spending, pointing to a moderation in consumption that could temper expectations of a sharp pickup in economic growth in the third quarter. July's unchanged retail sales reading followed an upwardly revised 0.8 percent increase in June, the Commerce Department said. Retail sales in June were previously reported to have increased 0.6 percent. Sales rose 2.3 percent from a year ago.

The Producer Price Index for final demand decreased 0.4 percent in July, seasonally adjusted, the  U.S. Bureau of Labor Statistics reported today. Final demand prices rose 0.5 percent in June and  0.4 percent in May. On an unadjusted basis, the final demand index moved down 0.2 percent for  the 12 months ended in July. In July, the decline in the final demand index was led by prices for final demand services, which fell 0.3 percent. The index for final demand goods decreased 0.4 percent.

A key measure of consumers' attitudes is slightly higher so far this month, but didn't rise as much as expected, according to preliminary data released Friday. The Index of Consumer Sentiment hit 90.4 in August, the University of Michigan said. Economists expected the consumer sentiment index to hit 91.5, versus 90 in July's final reading, according to a Thomson Reuters consensus estimate. Consumers' more favorable prospects for the overall economy offset a small pullback in personal finances, said Richard Curtin, the survey's chief economist.

This week markets will be looking at:

CPI (Tuesday 14:30)

Building Permits/Housing Starts (Tuesday 14:30)

Industrial Production (Tuesday 15:15)

FOMC Meeting Minutes (Wednesday 20:00)

Unemployment Claims (Thursday 14:30)

Philly Fed Manufacturing Index (Thursday 14:30)