US pre-open: Futures in the red following Street's worst week since February

As of 1210 BST, Dow Jones futures were down 0.40%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.36% and 0.38% lower, respectively.

The Dow closed 360.68 points higher on Friday but was unable to reclaim losses recorded earlier in the week as a result of a sell-off triggered by inflation fears.

In focus prior to the open on Monday, AT&T and Discovery shares were both trading higher in pre-market in the back of news of a potential merger of the former's WarnerMedia unit, which includes HBO, with the latter, with the new company set to trade as its own public entity.

Major tech stocks, which took a beating last week, were mixed early on, with Netflix and Amazon trading higher as Apple moved slightly lower.

SpreadEx's Connor Campbell said: "The Dow Jones looks unlikely to bring about any change – at least, any positive change – when trading gets underway in the US. After hefting itself back above 34,380 by the end of last week – remember, it had fallen as low as 33,288, from all-time highs of 35,000-plus – the Dow is set to drop by 100 points, as it struggles to maintain Friday’s closing rebound."

On the macro front, May's New York Empire State manufacturing index will be released at 1330 BST, while the National Association of Housebuilders' May housing market index will follow at 1500 BST and foreign bond investment figures for March will be published at 2100 BST.