NEW YORK (TheStreet) -- Stock futures were pointing lower Monday with the markets anxious over global growth prospects and the progress on fixing the European debt crisis.

Futures for the

Dow Jones Industrial Average

were slumping 47 points, or 49.47 points below fair value, at 13,453. Futures for the

S&P 500

were falling 5.10 points, or 6.70 points below fair value, at 1447. Futures for the

Nasdaq

were slipping more than 8 points, or 11.04 points below fair value, at 2844.

The major U.S. equity averages finished mixed on Friday with the Dow Jones Industrial Average posting its first down week of the month.

Adam Sarhan, founder and CEO of Sarhan Capital, said the markets are "extended" right now, saying he will "let more time pass before returning to or adding to our positions."

The market mood was souring Monday amid reports that Germany and France were clashing on the timeline for introducing a banking union, while rumors were circulating that Greece's budget shortfall was a lot greater than previously expected, though the Greek Ministry of Finance refuted the reports.

The nervous atmosphere was also being fed by data showing that the German Ifo index on business confidence unexpectedly declined this month, and a CBB International report indicating that optimism among Chinese manufacturers and retailers about sales have dimmed compared with three months ago and that they were reducing headcount.

Over the weekend, a People's Bank of China official warned that the country's slowing economy could extend into next year.

The FTSE in London was down 0.54% and the DAX in Germany was falling 0.62%. Hong Kong's Hang Seng index finished down by 0.19% on Monday and the Nikkei in Japan settled behind by 0.45%.

The benchmark 10-year Treasury was rising 10/32, pushing the yield down to 1.722%. The greenback was up 0.45%, according to the

dollar index.

November crude oil futures were losing $1.33 to $91.56 a barrel. December gold futures were dropping $18.50 at $1,759.50.

In corporate news,

Lennar

(LEN) - Get Report

, the homebuilder, posted fiscal third-quarter earnings of 40 cents a share. Revenue in the quarter rose 34% to $1.1 billion. Shares were popping nearly 4% in premarket trading.

Software company

Red Hat

(RHT) - Get Report

is expected to report fiscal second-quarter earnings of 21 cents a share on revenue of $322.1 million.

Red Hat is expected to issue its earnings after Monday's closing bell.

Shares were adding more than 2%.

Redbox

, a unit of

Coinstar

(CSTR) - Get Report

and

Verizon

(VZ) - Get Report

plan to offer subscription streaming, movie sales and rentals by Christmas, along with DVDs from the local kiosk,

Bloomberg

reported..

The venture, 65%-owned by Verizon, will challenge

Netflix

(NFLX) - Get Report

and

Amazon.com

(AMZN) - Get Report

for consumers who watch movies online and on mobile devices.

Coinstar shares were up more than 1%.

Yahoo!

(YHOO)

CEO Marissa Mayer is expected Tuesday to unveil her strategy for the struggling Internet giant.

Mayer shared her vision for Yahoo! with the board on Friday. She called the Tuesday meeting, in an internal memo to employees, "an act of radical transparency that will be a tradition moving forward," according to

All Things Digital

.

Yahoo shares were up fractionally.

--Written by Andrea Tse in New York.

>To contact the writer of this article, click here:

Andrea Tse

.