S&P 500 futures were flat, while Nasdaq futures slipped 0.1 percent. The main feature of the market recently has been a rotation into value stocks and away from growth, particularly technology. Data out of China due on Monday are expected to show retail sales and industrial output slowed further in December. The market will be spared speeches from the Federal Reserve officials this week ahead of their January 25-26 policy meeting, but there has been more than enough hawkish comments to see the market almost fully price in a first rate hike for March. There was also talk the Fed will start trimming its balance sheet earlier than previously thought, draining some of the excess liquidity from world markets. A break there would take it to heights last visited in 2014. . . .
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