Stock futures point towards a lower opening on Monday as market participants wait Senator Chris Dodd's financial reform bill and digest comments made by Chinese Premier Wen Jiabao about the yuan.

Futures on the S&P 500 fell 0.24 percent at 9:16 am EST and those of the Dow Jones Industrial Average fell 0.19 percent.

Senator Dodd, the chairman of the Senate Banking Committee, will unveil as early as Monday his financial reform bill.

According to New York Times, the bill will include provisions to limit Wall Street's influence on the Federal Reserve of New York.

On Sunday, Wen Jiabao commented that the yuan is not overvalued, rebuffing calls from the international community to appreciate its currency. He also warned that China could potentially suffer from a double dip recession this year. 

Market participants will also closely monitor the comments of rating agencies on the sovereign debt of the U.S. and U.K. and any developments on the Greece bailout.