What to watch, courtesy o f Yahoo! Finance's Elizabeth Trotta:
World stocks are mixed and U.S. futures are pointing to a flat to slightly lower open as investors weigh Greece default fears and the possibility of China rescuing Italy.
* An Italian government official said yesterday that the struggling nation has held talks in the past few weeks with Chinese counterparts about potential investments in the country.
* President Obama proposed limiting the amount of interest from municipal bonds that top earners can exclude from their taxable income. The move could hurt demand for state and local-government securities, Bloomberg reports.
8:30 a.m. Export and Import Prices - August (0.3% and 0.2%, respectively)
2 p.m. Treasury Budget - August (Prior: -$90.5B)