NEW YORK (TheStreet) -- Stock futures were marginally higher on Monday as the uncertainty of another bailout for Greece weighed on the markets.
S&P 500 futures were up 0.02%, Dow Jones Industrial Average futures were up 0.03%, and Nasdaq futures added 0.08%.
The economic calendar is bare on Monday as markets continue to digest Friday's April jobs report. However, worldwide markets were reacting to a slew of global economic news. China cut interest rates on Sunday for the third time in six months by 0.25 percentage points over fears that an economic slowdown would be worse than expected. The Wall Street Journal reported that Chinese officials are "growing more fearful that the mountain of debt from the rapid expansion of credit over the past few years is weighing on efforts to pick up the world's second-largest economy."
Elsewhere,, the hope for another Greece bailout is getting dimmer and dimmer. The country is struggling to make debt repayments and after several months of talks with its European creditors, Greece has "failed to agree on further reforms and savings Athens needs to quality for a 7.2 billion euro ($8 billion) loan installment," according to the Associated Press. Greece is expected to make a 770 million euro (approximately $860 million) repayment to the International Monetary Fund on Tuesday "but only after scraping together enough reserves from local governments and state entities like hospitals," the AP said.
Also, the Bank of England made no changes to monetary policy on Monday, keeping its lending rate at 0.5%, a level maintained since March 2009.
European and Asian markets were mixed on Monday. China's Shanghai Composite rose 3.04% on Monday. The FTSE 100 was up 0.19%; Germany's DAX was down 0.24%.
U.S. stocks on Friday ended higher for the week as Wall Street applauded the April jobs numbers, which came in at 223,000, in line with expectations.