Stock index futures pointed to a lower open on Wall Street on Monday following last week's rally, with futures for the S&P 500 down 0.29 percent, Dow Jones futures down 0.25 percent and Nasdaq 100 futures down 0.26 percent at 0752 GMT.
European stocks were down 0.3 percent in morning trade, trimming the previous week's brisk gains, as lower-than-expected Chinese macro data offset expectations of further stimulus measures. <.EU>
Weak Chinese trade data on Monday underlined the likelihood of more Beijing-backed spending to deal with the damage done to the domestic economy by firms cutting production, inventories and imports in the face of anaemic global demand. Imports fell 2.6 percent on the year in August, confounding expectations of a 3.5 percent rise. Exports grew 2.7 percent, below forecasts for a 3 percent rise in a Reuters poll.
The Federal Reserve looks set to launch a third round of bond purchases this week to try to drive borrowing costs lower and breathe more life into an economy that is not growing fast enough to lower unemployment. Despite political opposition and some internal dissent, economists said a weak report on jobs growth for August was likely enough to convince the U.S. central bank a looser monetary policy was needed.
Investors were also focusing on a number of events expected in Europe during the week, including Germany's constitutional court ruling on the legality of the euro zone's permanent financial rescue fund.
Commodity-related shares will be in the spotlight on Monday, after Glencore
Oil major BP
Billionaire investor Carl Icahn slammed Navistar International Corp
The U.S. Treasury Department said it will sell most of its stake in insurer American International Group Inc
JPMorgan Chase & Co
U.S. stocks held steady at four-year highs on Friday, closing out their best week since June as a sharply disappointing jobs report only fueled expectations that the Federal Reserve would act to stimulate the economy next week.
The Dow Jones industrial average <.DJI> ended up 14.64 points, or 0.11 percent, at 13,306.64. The Standard & Poor's 500 Index <.SPX> was up 5.80 points, or 0.40 percent, at 1,437.92. The Nasdaq Composite Index <.IXIC> was up 0.61 points, or 0.02 percent, at 3,136.42.
(Reporting by Blaise Robinson; Editing by Toby Chopra)