5 things to know before the stock market opens Monday

• Stock futures rose Monday after the S&P 500 had its worst week since 2023.
• Norfolk Southern is probing allegations that CEO Alan Shaw had an inappropriate workplace relationship, people familiar with the matter told CNBC.
• Boeing reached a labor deal with a union representing about 33,000 of its workers, preventing a potentially costly strike.

Here are the most important news items that investors need to start their trading day:

Stock futures ticked higher Monday after equities tumbled last week. The S&P 500 dropped 4.3% for the period, its worst week since 2023. The Nasdaq Composite shed 5.8% in its poorest week since 2022, and the Dow Jones Industrial Average fell 2.9%. Investors will be watching this week for inflation data, which could help to determine how large of a rate cut the Federal Reserve makes at its policy meeting later this month. The central bank is widely expected to trim its target rate by at least a quarter of a percentage point. The consumer price index due Wednesday and producer price index set for Thursday will help shape the Fed's decision. Follow live market updates.

Norfolk Southern's board is looking into allegations that CEO Alan Shaw had an inappropriate workplace relationship, three people familiar with the matter told CNBC. The rail operator later said it is investigating "possible conduct" that violates its code of ethics and has outside hired legal counsel for a probe. The investigation is only the latest turmoil at Norfolk Southern, following a toxic train derailment in Ohio and a proxy fight with activist investor Ancora. Shaw did not return calls or text messages requesting comment.

Boeing reached a labor agreement with a union that represents roughly 33,000 of its workers,