NEW YORK (CNNMoney.com) - Stocks looked as if they could rebound ahead of new comments scheduled from Federal Reserve Chairman Ben Bernanke, due Monday evening.

U.S. stock futures are up in early trading, indicating a slightly higher open for U.S. markets. Investors will be looking to see if equities can rebound after another losing session Friday left major U.S. indexes down about 3 to 4 percent for the week.

This week brings the latest inflation readings for a market already on Fed watch, as the Producer Price Index is due Tuesday and the Consumer Price Index reports Wednesday. Bernanke speaks at 7:30 p.m. Monday at a banking industry event in Washington D.C.

A week ago a speech by Bernanke that was seen as hawkish on the threat of inflation raised expectations for future Fed interest rate hikes and started the sell-off in the markets.

Anthony Chan, chief economist for JPMorgan Private Client Services, said futures are probably up Monday on the belief the sell-off was overdone last week, and that Bernanke could make what is seen as more dovish statements this week.

"I think the traders are hopeful he'll throw a bone to the market, and he may do that. But the bone won't have a lot of meat to it," Chan said. "He's caught between the rock and a hard place. If he doesn't continue the hawkish stuff, he risks losing credibility. If he continues the hawkish stuff, he risks hurting the markets."

Stocks could get a lift from news late Friday afternoon that the United Auto Workers union and bankrupt auto parts maker Delphi (Research) had reached an agreement on a buyout offer for union members there. The move is seen as reducing the risk of a strike that could cripple General Motors (Research), Delphi's former corporate parent which is helping to pay for the offer.

UAW President Ron Gettelfinger, in a message to members on the eve of the union's convention this week, warned that "The challenges we face aren't the kind that can be ridden out. They're structural challenges, and they require new and farsighted solutions." Those comments were seen as preparing the rank and file for further concessions.

Shares of Dow component GM gained 1.6 percent in after-hours trading Friday and were up nearly 2 percent in early Frankfurt trading. Shares of Ford Motor (Research) were also up in heavy Frankfurt trading although shares of DaimlerChrysler (Research) were off 0.5 percent.

Oil prices were slightly higher as traders watched Tropical Storm Alberto, the first of the Atlantic hurricane season, to see if it posed any risk to oil facilities along the Gulf Coast. But oil was off of earlier highs of the day.

The July light crude futures contract for NYMEX rose 4 cents to $71.67 in electronic trading, while the July contract for Brent crude gained 5 cents to $70.54

Major markets closed mostly higher Monday in Asia on a report that showed a 3.1 percent gain in Japan's gross domestic product. Major European markets were lower in early trading as steelmaker Arcelor again rejected a $28 billion takeover offer from Mittal Steel (Research) and urged shareholders instead to support a proposed merger with Russia's Severstal.

Treasury prices were lower, lifting the yield on the benchmark 10-year note to 4.99 percent from the 4.97 percent level reached late Friday. The dollar was higher against the yen but lower against the euro.

For a more detailed look at the markets before the open, click here.