"Market Update: Stocks Retreat, Oil Rises, and DOJ Sues Apple in Antitrust Case"

US stocks are set to open lower after last week's strong rally as investors await key data from the US that may provide further insight into the Federal Reserve's policy direction. Traders are cautious about stock valuations following the recent rally, and are monitoring a busy week of economic data, including the Fed's preferred inflation gauge. European equity valuations are not yet over-stretched, according to Goldman Sachs Group Inc. strategists. Asian markets saw a muted session, with Japanese equities declining, while the offshore yuan rose amid signs of support from Chinese monetary authorities. In commodities, oil gained on escalating geopolitical unrest, and Bitcoin rose, boosting shares in cryptocurrency-related stocks in US premarket trading.