US pre-open: Stocks seen weaker ahead of inflation data, earnings season

At 1105 BST, Dow Jones Industrial Average futures were down 0.1%, while S&P 500 and Nasdaq futures were 0.2% and 0.4% lower, respectively.

Scope Markets analyst Joshua Mahony said: "Wall Street indices sold off into the close on Friday, despite a miss in the non-farm payrolls reading having the potential to cut monetary policy doves some slack. Arguably however given the overshoot in the ADP reading and the fact that concerns over inflationary pressures continue to linger, this reading risks being seen as something of an outlier.

"With that in mind, Wednesday’s release of inflation data from the US has the potential to provide a meaningful market impact as traders will be looking for it to land in a tightly defined Goldilocks zone. Too hot and the rate hike conversation is back on the table, whilst anything too cold, especially in light of the NFP reading, risks reigniting recession fears.

"Overnight inflation data out of China saw PPI fall further, with the latest reading of -5.4% bringing hope that global inflation will continue to cool as Chinese input prices are ultimately passed on to global consumers.

"In the short term, consumer inflation expectations are on the cards for today but unless there’s a meaningful shortfall here, it seems unlikely that this print will be able to offer any real direction."

On the corporate front, earnings are due this week from JPMorgan Chase, Citi and Wells Fargo, among others.

Ican Enterprises rallied in pre-market trade following a Wall Street Journal report that it has finalised amended loan agreements with its banks that untie Icahn's personal loans from the trading price of Icahn Enterprises.