NEW YORK (TheStreet) -- U.S. stock futures were pointing lower Monday after weak jobs growth in the U.S. had investors fretting growth in the world's-largest economy was losing momentum.
European stocks were trading lower, while Asian stocks ended Monday on the downside.
Japan's Nikkei 225 index fell 1.4% o 8,896.88 while China's Shanghai Composite declined 2.4% to 2,170.81. Inflation figures for China released Monday showed the consumer price index at its lowest since January 2010, giving Beijing more room to continue adding stimulus.
U.S. stocks on Friday fell after a Labor Department report showed the U.S. economy produced fewer than 100,000 jobs for the third month in a row.The Dow Jones Industrial Average declined 124.20 points, or 0.96%, to 12,772, and closed down 0.84% for the week. The S&P 500 slipped 12.90 points, or 0.94%, to 1,355; it closed down 0.55% for the week. The Nasdaq slid 38.79 points, or 1.3%, to 2,937, and was flat for the week.
The economic calendar in the U.S. on Monday is light, with only May U.S. consumer credit numbers to be released at 3 p.m. EDT.
Details are emerging on how eurozone officials will set up a banking supervisor for the 17-nation currency bloc, according to a report. Discussions are centering on the idea of an agency under the European Central Bank that will be the sole overseer of the 25 or so biggest banks in the eurozone, according to a report from The Wall Street Journal. Smaller banks in the currency bloc would continue to be supervised by their national financial-market regulators, the report said. But the national regulators would be under the control of the eurozone banking supervisor.
Alcoa (AA) kicks off second-quarter earnings season after Monday's closing bell and analysts expect the aluminum giant to report profit of 5 cents a share on revenue of $5.83 billion.
Celgene (CELG) isn't buying Human Genome Sciences (HGSI), according to a source in contact with Celgene management, reported TheStreet's Adam Feuerstein. Late Friday, Reuters, citing its own unnamed source, reported that Celgene was one of two possible bidders for Human Genome Sciences, which is trying to fight off a hostile, $13-a-share offer from GlaxoSmithKline (GSK).
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