Stock futures pointed to a lower open on Wall Street on Monday following a long weekend, as oil tumbled nearly $3 a barrel on mounting doubts over a quick economic recovery.
At 4:54 a.m. EDT, futures for the S&P 500 were down 0.9 percent, Dow Jones futures were down 0.9 percent and Nasdaq 100 futures were down 0.9 percent.
Oil sank to a five-week low near $64 a barrel on Monday, as investors remained cautious over the prospects of a speedy global economic turnaround, while the dollar gained ground in the wake of last week's grim U.S. jobs data.
European shares were down 1.6 percent at a seven-week low on Monday morning, dragged by falling shares of commodity-related companies such as BP
In Asia, South Korea's Samsung Electronics <005930.KS>, the world's top maker of memory chips and flat screen TVs, forecast second-quarter earnings well above market estimates, driving its shares up more than 4 percent on Monday.
A U.S. judge on Sunday approved General Motors Corp's
Global miner Rio Tinto
On the macro front, the Institute for Supply Management releases its June non-manufacturing index, at 10 a.m. EDT.
U.S. stocks tumbled on Thursday, driving the S&P 500 down to its third-straight weekly loss, as a steeper-than-expected slide in June non-farm payrolls revived caution about economic recovery prospects.
The Dow Jones industrial average <.DJI> dropped 223.32 points, or 2.63 percent, to 8,280.74. The Standard & Poor's 500 Index <.SPX> slid 26.91 points, or 2.91 percent, to 896.42. The Nasdaq Composite Index <.IXIC> sank 49.20 points, or 2.67 percent, to 1,796.52.
On the year, the Dow is down 5.6 percent and the S&P is down 0.8 percent.
U.S. financial markets were closed on Friday for the U.S. Independence Day holiday, with July 4th falling on Saturday this year.
(Reporting by Blaise Robinson; Editing by Hans Peters)