NEW YORK (TheStreet) -- It's a new month and stock futures found a fresh well of optimism to push higher after several days of losses.
S&P 500 futures were up 0.39%, Dow Jones Industrial Average futures climbed 0.3%, and Nasdaq futures added 0.48%.
U.S. personal income in April increased 0.4% after a flat reading a month earlier. Economists had expected the measure to tick up 0.3%. Personal spending remained flat, as expected, after a revised 0.5% increase in March.
"The April income and spending figures are another reminder that even though their incomes are rising at a healthy pace, households are still reluctant to boost spending more freely," said Paul Ashworth, chief U.S. economist at Capital Economics.
Stocks closed Friday's session lower after a downward first-quarter GDP revision pressured markets. Benchmark indexes, however, notched a gain for May. Click here for more.
Sluggish growth since winter means the conditions for a rate hike have not been met, Boston Federal Reserve President Eric Rosengren said in a speech on Monday. Rosengren is a non-voting central bank member this year.
"The data were not just weak during the worst of winter; they were also weak before the storms and have been weaker than expected ever since," Rosengren told a business group in Hartford, Conn. "This, in my view, makes a compelling argument for continued patience in monetary policy."
The focus this week will be on economic data, culminating in Friday's closely watched jobs numbers. Economists hope to see continued strength in the labor market, proof that March's disappointing number was an aberration in a weak first quarter.