NEW YORK (TheStreet) -- Wall Street has its eyes overseas, as China signals a willingness to ease monetary policy to rejuvenate growth and Greece races against the clock to reach an agreement with creditors before running out of cash.

Oil futures are trading off as investors try and game whether Iran and world powers will come to an agreement on its nuclear program and the related economic sanctions against the country ahead of Tuesday's deadline.

On schedule for today is a host of domestic economic data, including the personal income and spending reports, pending home sales, the Dallas Fed's manufacturing outlook and farm prices. After the market close, the Fed Vice Chair Stanley Fischer is set to speak at the Atlanta Fed conference.

Earnings season begins in earnest in just a couple of weeks, but first we need to traverse the treacherous preannouncement season, which will give us some insight into the real-time business environment. It has begun with the first quarter wrapping up and companies doing all they can to meet stated guidance and objectives. Expectations for the regular reporting season will be set depending on the who, what, where, when, why and how companies confess to investors with their negative preannouncements.

Finally, heard in the M&A rumor mill: Intel (INTC) - Get Report is interested in acquiring Altera (ALTR) - Get Report.

Happy trading!

This article was written by a staff member of TheStreet.