Futures on major U.S. stock indices point to lower opening on Monday with futures on the S&P 500 down 0.58 percent, futures on the Dow Jones Industrial Average down 0.42 percent and Nasdaq100 futures down 0.40 percent.
European stock markets fell on concerns that euro nations will struggle to raise money in debt sales this week. Portugal, Spain and Italy are scheduled to hold their first bond auctions this year following a slump in euro-area government bonds last week, triggered by concern over the European Union's ability to stem the crisis.
Shares of Alcoa Inc. (NYSE:AA) will be on focus as the earnings season is set to kick off with U.S. aluminum producer Alcoa slated to report quarterly earnings after the market closes on Monday. Analysts are expecting a fourth quarter profit of $0.19 per share from $0.01 per share a year ago.
Shares of Genzyme Corp. (NASDAQ:GENZ) will be on focus as the company shares surged 4.15 percent in aftermarket trading hours on Friday on news that Genzyme and Sanofi are in talks over a merger that would value Genzyme closer to $8.00 per share IF milestones are met.
In Asia, Chinese trade surplus narrowed in December, easing the conflict between Beijing and Washington over rising U.S. trade deficit even as Chinese President Hu Jintao is scheduled to meet President Obama in the White House on January 19. Beijing said on Monday the trade surplus in December was $13.1 billion, much lower than economists' consensus of more than $22 billion.
On Friday, U.S. stocks declined, although ended well above intra-day lows, pressured by a mixed jobs report and a foreclosure court ruling that raises questions about banks.
The euro advanced 0.314 percent to 1.2924 against the dollar and the yen declined 0.01 percent against the greenback.
Crude oil futures rose 0.65 percent to $88.60/barrel and gold futures fell 0.02 percent.
European stock markets are currently trading lower with FTSE 100 down by 33.33 points, DAX30 down by 62.99 points and CAC 40 down by 59.96 points.