Forex Pros - U.S. stock futures pointed to a lower open on Monday, as indications the U.S. economic recovery was slowing weighed on market sentiment, while shares in Apple were in focus ahead of the company's annual developers conference.
Dow Jones Industrial Average futures pointed to decline of 0.3%, the S&P 500 futures dipped 0.15%, while Nasdaq 100 futures indicated a loss of 0.25%.
On Friday, the U.S. Department of Labor said nonfarm payrolls rose significantly less-than-expected in May, increasing by just 54K as the private sector posted the smallest jobs gain in nearly a year. The slowdown in job creation pushed the unemployment rate up to a five-month high of 9.1% from 9.0% in April.
With no economic data due Monday, Apple shares were expected to be in focus ahead of the company's annual software developers conference in San Francisco.
Chief executive Steve Jobs, who has been on medical leave for the past six months, will deliver the keynote speech in which he is expected to unveil a new, cloud-based music and data service called iCloud. Apple shares added 0.4% in pre-market trade.
Meanwhile, shares in airliners retreated after the International Air Transport Association slashed its 2011 industry profit forecast by 54%, due to higher oil prices, political protests in the Middle East and the Japan earthquake.
Delta Airlines saw shares drop 1%, while US Airways Group declined 1.1%.
On the upside, pharmaceutical firm Oxigene jumped 5.5% after it reported encouraging data in a trial of its lung cancer drug, Zybrestat on Saturday. The biotech's shares had rallied nearly 23% on Friday ahead of study presentations expected over the weekend.
Shares in search engine giant Google could be active after the Wall Street Journal reported that the U.S. Justice Department began an inquiry into whether its USD900 million purchase of Nortel Networks gives it an unfair competitive advantage in the wireless sector.
Other stocks in focus included, Microsoft, Sony and video-game producer Electronic Arts, which are all slated to hold press conferences at the E3 Convention in Los Angeles later in the day.
Across the Atlantic, European stock markets declined amid heightened concerns over the global economic outlook. The EURO STOXX 50 slumped 0.85%, France's CAC 40 dropped 0.75%, Germany's DAX shed 0.3%, while Britain's FTSE 100 eased down 0.1%.
During the Asian trading session, Japan's Nikkei 225 Index slumped 1.2%, as shares in Tokyo Electric Power Company plunged to a record low after a report that the firm was facing a full-year net loss of JPY570 billon.
Later in the day, Dallas Federal Reserve President Richard Fisher and U.S. Treasury Secretary Tim Geithner were scheduled to speak. Their comments would be closely watched for their views on the U.S. economic recovery.