Emerging markets have had a good run — the iShares MSCI Emerging Markets ETF is up 7.5% this month — with sentiment given a lift by China's stimulus and the Federal Reserve’s 50 basis point interest rate cut on Sept. 18. And still the sector remains undervalued and underowned, according to a team of analysts at JPMorgan.

Investors debating the Federal Reserve's next rate move get to hear from Chair Jerome Powell himself Monday afternoon, when he delivers remarks at an economics conference. But don't expect him to sett

Traders are waiting on the second-quarter GDP revision and weekly jobless claims data to roll out on Thursday. Micron reports earnings after the closing bell.

Today, though, it was an inflation update that Wall Street was centered on. According to the Bureau of Economic Analysis, the Personal Consumption and Expenditures (PCE) Price Index increased by 0.1% in August from the month prior and was up 2.2% on an annual basis. Both figures were lower than what was seen in July.