Stock futures turned higher Monday after trading lower earlier following a weekend meeting of G20 leaders that failed to result in any meaningful action to encourage global growth.
S&P 500 and Dow Jones Industrial Average rose 0.1%.
G20 finance ministers met in Shanghai over the weekend and agreed to use "all policy tools -- monetary, fiscal and structural -- individually and collectively." However, no concrete plans were made to address slowing economic growth in the global economy, particularly in China. China's GDP fell to a 25-year low last year, growing at 6.9% from 7.3% growth in 2014.
Stock futures pared losses, though, after China cut the amount banks are required to hold on reserve in an attempt to inject more money into its slowing economy. The People's Bank of China cut the reserve requirement by half a percentage point. This marks the fifth time it has cut its reserve requirement in a year.
Crude oil appeared to have stabilized on Monday after wild swings last week. The commodity saw extreme volatility in recent weeks as negotiations among Russia and the Organization of Petroleum Exporting Countries fueled hope and skepticism a production cap agreement could be reached. West Texas Intermediate crude was down 0.12% to $32.74 a barrel on Monday morning.
American Express (AXP) - Get Report climbed more than 1% in premarket trading after agreeing to sell its Costco U.S. co-brand portfolio to Citigroup (C) - Get Report . The credit-card company expects to generate roughly $1 billion on the sale.
Alibaba (BABA) - Get Report shares were slightly lower after Chairman Jack Ma and Vice Chairman Joe Tsai agreed to buy back a total $500 million. The buyback is part of a broader $4 billion repurchase program unveiled in August. The Chinese e-commerce site has struggled recently with weaker growth, particularly out of its key Chinese market.
Lumber Liquidators (LL) - Get Report inched higher after swinging to a fourth-quarter loss on the back of slumping growth tied to concerns over the safety of its products. The flooring retailer reported a loss of 73 cents a share, far wider than an expected loss of 23 cents.
Boeing (BA) - Get Report shares were on watch on reports it is considering layoffs of airplane engineers as it assesses a plan to reorganize or consolidate its engineering teams. The aerospace manufacturer is reportedly considering making voluntary layoffs available to workers.