Futures: Dow and Nasdaq drop 0.47%, S&P down 0.49%.
After blockbuster earnings from major US banks last week, analysts expect first-quarter profit for overall S&P 500 firms to jump 30.9% from a year earlier, according to Refinitiv IBES data.
"The reopening trade is still very much alive," said Oliver Pursche, senior vice president at Wealthspire Advisors in New York. "And you're seeing that in the relative underperformance of the high-flying tech that did so well throughout the shutdowns."
"Things are now getting back to normal from a period of suppressed pricing," Pursche added. "Prices are getting back to their equilibrium. One month of price spikes does not make a trend."
The Dow Jones Industrial Average rose 47.7 points, or 0.15%, at the open to 32470.88.
The S&P 500 rose 9.4 points, or 0.24%, at the open to 3919.93, while the Nasdaq Composite rose 61.5 points, or 0.47%, to 13289.243 at the opening bell.
Strong earnings, progress in vaccination roll-outs and hopes of a $1.9 trillion federal stimulus package helped US stock indexes hit record highs at the start of the week.
Futures: Dow flat, S&P down 0.06%, Nasdaq off 0.18%
Retail sales are estimated to rise 1.1% in January, helped by the disbursal of another round of pandemic relief checks to households at the beginning of the month.