Canada retail sales for June will be released at 8:30 AM. The expectations are for 0.3% vs. 2.2% gain last month. The ex auto data is expected to show a 0.9% gain vs. 1.9% last month.

Fed's Barkin is scheduled to speak at 9 AM ET. He last spoke on August 12 on CNBC. His comments can be found here.

Fed's Daly, Bullard, George and Kashkari all spoke yesterday and all expressed concern about inflation and vowed the continued fight. The expectations for a 75 basis point hike increased to over 50% in September. There is still data including jobs and CPI before that report. Next week the Fed's Jackson Hole Summit will take place. Focus will be on the speech from Fed chair Powell which will be given at 10 AM ET on Friday.

Later this afternoon the weekly Baker Hughes rig count data will be released. Honestly the dated tends not to have a big impact.

Today is option expiration date in the US stocks which could cause some added volatility .