US pre-open: Grim start to the week as futures fall

Weaker oil prices and a lack of economic data have led US futures to fall, marking an extremely poor start to the week.

The Dow Jones Industrial Average was set to open down at least 212 points, while the S&P 500 and the Nasdaq were expected to start the session 27 and 90 points lower, respectively.

The main data state-side on Monday will be the Labor Market Conditions Index Change for January, which is due at 1500 GMT.

Japan leads start of quieter Asia trading week

Elsewhere, Japan led the start of what was set to be a quiet week in Asia on Monday, with many markets - particular those in mainland China - closed for the week-long Lunar New Year holiday.

A buoyant Nikkei Stock Average closed up 1.1%, after data from SMBC Nikko Securities suggested companies listed on the first section of the Tokyo Stock Exchange would record a combined 3.4% year-on-year rise in net profit in the year to March.

Traders were less concerned about any decision from the US Federal Reserve in March, after data on Friday showed slower job growth but stronger wage inflation.

The speed at which US policymakers tighten their fiscal policy had been a serious concern since the milestone rise in rates in December.

"The Fed's raising rates isn't the main scenario, but that possibility is still left open", said Daiwa SB Investments general manager for economic research Soichiro Monji.

Slowing growth in China - another recent concern - was off the table due to the holiday this week, but the fallout of oil price drops for producing countries and the energy industry continued to be concerns.

European stocks fell into the red on Monday, with energy issues under the cosh as oil prices slid again.

West Texas Intermediate was down 2.40% to $30.15 a barrel and Brent dropping 1.91% to $33.41.

The dollar was up 0.58% against the pound and 0.29% against the euro, but had dropped 0.42% against the yen. Spot gold was up 0.33% to $1,177.22.

In company news, investors will be keeping an eye on how shares in Hasbro do after it posted net revenue of $175.8m, boosted by sales of Star Wars merchandise and Nerf products.

Educational toymaker LeapFrog Enterprises will also be in the spotlight, after VTech Holdings said it would buy the company for $72m.