NEW YORK (CNNMoney.com) - Stocks were looking for direction to start a new week when investors will again be watching economic readings and comments from Federal Reserve officials for signs about the future of interest rate hikes.

Stock futures were up in early trading Monday, although a comparison to fair value indicated a flat to only slightly higher open for a day with no new economic readings and a relatively light corporate news in the early going.

The week will see key measures of home building strength and demand for big ticket items. Monday Atlanta Federal Reserve President Jack Guynn, one of the voting members of the Federal Open Market Committee which sets Fed rates, will speak at the Georgia Bankers Association convention Monday morning. Comments by Fed officials have been closely watched for clues about the Federal Reserve's interest rate plans.

Oil prices were lower after Iranian Foreign Minister Manouchehr Mottaki on Sunday said a "positive atmosphere" may help bridge the gap between his country and world powers over its nuclear program.

The July light crude futures contract for NYMEX lost 74 cents to $69.14 in electronic trading, while the August contract for Brent crude fell 75 cents to $68.05.

Major markets closed mostly lower Monday in Asia, while major European markets were higher in early trading after Nokia (Charts) and Siemens (Charts) agree to combine their telecom equipment units.

Treasury prices were lower again Monday, lifting the yield on the benchmark 10-year note to 5.14 percent from the 5.12 percent level reached late Friday. The dollar was higher against the yen and the euro.

Related: A more detailed look at the markets before the open.