NEW YORK (TheStreet) -- Stock futures were slightly lower on Tuesday, extending losses seen last week, as China's economy showed further signs of a slowdown.
S&P 500 futures were down 0.11%, Dow Jones Industrial Average futures fell 0.1%, and Nasdaq futures slipped 0.25%.
Inflation in China in May increased at a slower-than-expected pace with consumer prices rising 1.2% year over year, short estimates for a 1.3% increase. Producer prices plummeted 4.6% from a year earlier, the 38th straight month of decline.
A day earlier, China reported exports for May fell and imports declined at the sharpest rate in three months. Annual exports slid 2.5% while imports plummeted 17.6%. The latest data rallied calls for increased stimulus from the People's Bank of China.
U.S. stocks closed in the red on Monday as investors braced for next week's Federal Reserve meeting in the wake of Friday's stellar monthly jobs report. The Fed will kick off its two-day meeting on Tuesday, June 16, and it will conclude mid-afternoon on Wednesday. Click here for more.
HSBC (HSBC) plans to cut 50,000 jobs, one leg of an effort to cut costs by as much as $5 billion within two years, according to a statement to the Hong Kong Stock Exchange. The measure eliminates around 20% of the bank's payroll.
Lululemon (LULU) rose 2.5% in premarket trading after beating estimates on its top- and bottom-lines. The athletic apparel maker earned 34 cents a share in its recent quarter, beating estimates by a penny, while sales climbed 10.1% to $423.5 million.
Fiat Chrysler (FCAU) shares were on watch on news the company's executives are still keen to merge with General Motors (GM). Fiat CEO Sergio Marchionne has reportedly contacted hedge funds to nudge GM to consider a merger, according to The Wall Street Journal.
Apple (AAPL) dominated headlines on Monday afternoon as the company unveiled its streaming music service Apple Music. The company kicked off its five-day Worldwide Developers Conference in San Francisco on Monday. Click here for more.
American Airlines (AAL) fell more than 1% in premarket trading after reporting May traffic. Revenue passenger miles increased 0.7% to 19.3 billion, while total capacity rose 2.1% to 23.3 billion available seat miles.
United Natural Foods (UNFI) slid after reporting third-quarter net income of 83 cents a share, up a dime from a year earlier though short analysts' estimates by 2 cents. Revenue rose nearly 19% to $2.11 billion, but missed estimates of $2.14 billion.
Casey's General Stores (CASY) climbed in premarket trading after reporting quarterly earnings of $1.05 a share, nearly double a year earlier and above estimates of 86 cents. Sales declined to $1.65 billion, though bested estimates of $1.64 billion.
H&R Block (HRB) disappointed analysts, reporting full-year earnings of $1.75 a share, down from $1.81 a year earlier and less estimates of $2.03. The accounting firm didn't provide numbers for its standalone fourth quarter.