Stock futures indicate U.S. stock markets may have a positive morning as investors await the beginning of second quarter earnings season.

On Friday, gains in the oil sector as oil remained around $72 a barrel, offset concerns of increasing bond yields again.

Today, May consumer credit is due at 3 p.m. and is expected to rise to $6 billion according to Briefing.com from $2.6 billion in April. Several other economic indicators are due out later this week including trade balance and retail sales. Investors will watch closely bond yields and any sign indicating higher inflation. Similarly, as earnings season kicks off, Wall Street will want a balance of good earnings (showing the economy isn't slowing too much), but not too strong as to put pressure on inflation.

Overseas, the rally in the Asian stock markets continued Monday, feeding off the gains in the U.S. markets last week. Japan's Nikkei 225 average finished at its highest in seven years. Other Asian markets continued their climb. European shares also posted gains today despite several downgrades.

Corporate news:

Alcoa Inc. (NYSE: AA) kicks off earnings season today after the market closes. The aluminum company is expected to report a second-quarter profit of 81 cents a share according to Thomson Financial.

Goldman Sachs upgraded the Home Depot Inc. (NYSE: HD) to Buy from Neutral due to "changes in management and culture as well as an improved business mix and capital structure." While the sluggish housing market will continue to impact Home Depot, the call is longer-term. HD shares are up 1.7% in pre-market trading (7:13 a.m.).

If you haven't caught it on TV yesterday, you missed it. On 7-8-7, The Boeing Company (NYSE: BA) unveiled the first fully assembled 787 Dreamliner jet. BA shares are up 0.8% in pre-market trading (7:13 a.m.).