NEW YORK (TheStreet) -- Stock futures were driving lower on Monday morning in a delayed reaction to a disappointing March jobs report released on Good Friday. 

S&P 500I:GSPC futures were down 0.74%, Dow Jones Industrial AverageI:DJI futures fell 0.73%, and NasdaqI:IXIC futures slid 0.74%. 

U.S. nonfarm payrolls added 126,000 jobs in March, well below economists' expectations of 245,000. This marked the first time in 12 months fewer than 200,000 jobs were added to payrolls. The February and January prints were also revised down. 

The latest poor data supports the narrative of slower growth in the first quarter and raises the question as to whether the Federal Reserve will put a rate hike on pause until the U.S. economy shows more solid signs of recovery. 

"The Fed has the luxury of waiting for two more payroll reports before making a decision at the June meeting. We continue to look for the Fed to hike rates in September and suspect that the most recent report only stands to lower the already low odds of a June rate hike," said TD Securities' U.S. strategist Gennadiy Goldberg. "For markets, the focus on economic data could create a more volatile near-term trading environment, making it difficult to set longer-term strategic positions."

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Crude oil rebounded, reclaiming a level above $50 a barrel after selling off last Thursday. Prices had been under pressure after Iran and six world powers, the U.S. included, reached a tentative nuclear agreement that would lead to the lifting of economic sanctions. Freedom to trade could see Iranian oil flood an already-oversupplied commodity market. West Texas Intermediate was up 2.4% to $50.31 a barrel. 

International markets were quiet with most of Europe, Australia and Canada closed for Easter Monday, and China closed for the Qingming festival. 

Greece headed closer to an April 9 deadline for a €458 million ($503 million) repayment to the International Monetary Fund. Greek finance minister Yanis Varoufakis met with IMF Chief Christine Lagarde to assure that the nation will honor all its loans. 

Herbalife (HLF) - Get Report plummeted 5.6% in premarket trading on reports federal regulators could launch an investigation into its business practices. Details of any potential investigation were still unclear, reported CNBC

Walt Disney (DIS) - Get Report shares slipped 0.7% after the company invested $250 million in Draft Kings, which now values the fantasy sports website at $900 million. In exchange, Draft Kings will spend more than $500 million on advertising on Disney's ESPN

Shanda Games (GAME) - Get Report spiked more than 6% after agreeing to be taken private by Capitalhold for $3.55 a share and $7.10 per ADR, or $1.9 billion. The deal values the Chinese Internet gaming company at a 46.5% premium to its 30-day average trading price.