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The Bureau of Labor Statistics is set to release U.S. inflation data, with consumer prices projected to have risen 0.5% in May, slowing from a 0.6% increase in April. On an annual basis, the Consumer Price Index is expected to have climbed 4.2% in May, up from 3.8% the previous month. Core CPI is anticipated to have increased 0.3% in May, after a 0.4% gain in April. Year over year, core prices are likely to have risen 2.9% in May, following a 2.8% increase in April. Additionally, the Treasury Department is scheduled to report May federal budget deficit of $275 billion after recording a budget surplus of $215 billion in April.

Oracle is expected to post a growth in fourth-quarter revenue, driven by strong demand for its cloud infrastructure and AI services. Investors will be focused on management's commentary regarding the company's spending and debt levels, amid concerns over AI-driven disruption to traditional software demand.

Gas generator maker ERock is scheduled to make its market debut on the New York Stock Exchange.

The Bank of Canada is set to announce its key policy interest rate decision, with the prior rate standing at 2.25%.