New Zealand and Australian sharemarkets are expected to open and remain flat today before public holidays in both the United States and the United Kingdom.
US sharemarkets will be closed for Memorial Day and in the UK, markets will be closed overnight for the spring bank holiday.
CommSec chief Australian economist Craig James is forecasting the ASX to open only seven points higher.
Australian stocks closed lower on Friday, amid a broad sell-off led by heavy losses from miners, banks and telecommunications.
''Nobody really wanted to do anything. In fact, it was the quietest trading day of the year so far,'' he told AAP.
The UK market was up but European markets were mixed, sliding on thin trade after Italian bank woes surrounding ailing regional banks Popolare di Vincenz and Veneto Banca.
Mr James predicted the Australian market would remain steady as the week progressed.
Scant significant economic data was due in Australia this week. Investors would look for retail spending data and business investment figures, both due out on Thursday.
''We knew we were going into a quiet start to the week in the US but overall it will be the economic figures which are going to drive most of the interest,'' Mr James said.
The NZX closed on Friday up seven points at 7441 after investors took heart from the Government's Budget 2017.
The NZX has been one of the best performing indices recently, taking its lead from the US markets which have been setting highs regularly.
So far this year, the NZX has risen 16%. The peak was on May 1, at 7452.
During the weekend, oil prices recovered after a steep slide, following investor disappointment Opec curbs did not go far enough.
Wall Street pulled back after six days of straight gains.
US President Donald Trump returns to the US this week, after a tour to Israel, the Middle East and Europe.
Because he has been away, it has been quiet politically in the US, despite ongoing investigations into his Administration's alleged ties to Russia.
This week there is likely to be more focus in terms of his political troubles in the US.
The term '' Sell in May and go away'' is one of the oldest used by investment firms and investors and it appears to be coming true in the US.
The S&P 500 delivered a total return, including reinvested dividends, of nearly 11% in the last six months, essentially capturing all of the average rolling 12-month total return on the index since 1990.
Political drama and high valuations were now driving some US investors to take profits.
American fund investors have pulled about $US17billion ($NZ24billion) from US stocks so far this month. More than $US10billion was withdrawn last week alone, the second-largest outflow for the year.
Some brave investors are betting against the flow, and history, and are advocating a buy-in-May approach.
The UK election appears to be a much closer race than previously thought. Sterling slid more than 1% following a poll showing the ruling Conservative Party's lead shrinking two weeks before the election.
The first opinion poll since a suicide bombing killed 22 people indicated the opposition Labour Party had cut the Conservatives' lead to five points.
Prime Minister Theresa May previously said a big win would strengthen her hand in Brexit negotiations.
Senior market analysts were quoted by Reuters as saying Labour was gaining momentum and the result might not be the breeze Mrs May anticipated when she called the snap election last month.
It could yet turn into a humiliating defeat for Conservative Party.
