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Wall Street to digest weak China, Japan data

U.S. stock index futures pointed to a flat-to-higher open on Monday, after Asian stocks plunged following poor data out of both Japan and China.

Japan's Nikkei 225 fell over 1.0 percent early in the day, after data showed the Japanese economy grew 0.7 percent year-on-year in the fourth quarter of 2013, down from a preliminary reading of 1.0 percent.

(Read more: Japan's fourth-quarter GDP revised down)

"It's kind of a miss. I don't think it's enough to shock the Bank of Japan into action, but it is worrying, probably because business investment is still not looking strong," HSBC Economist Izumi Devalier told CNBC Asia's "Squawk Box."

Meanwhile, China's Shanghai Composite fell 2.9 percent, following data on Saturday that showed the country running a trade deficit of $23 billion in February. That compared to forecasts for a surplus of $14.5 billion.

(Read more: Copper's 'fall out of bed' underscores China woes)

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In the U.S., the coming week looks set to be a quieter one for economic news, following Friday's strong-than-expected payrolls.

"The 175,000 rise in U.S. payroll employment in February, which followed an average rise of 115,000 in the previous two months, is all the more impressive since activity was clearly hampered by the unusually severe weather," said Paul Dales of Capital Economics in a research note.

Few companies will report earnings on Monday, although Urban Outfitters is due to post quarterly numbers after Wall Street closes.

(Track: European markets live)

Correction:

This story has been updated to reflect that Urban Outfitters will report its results after Wall Street closes.

—By CNBC's Katy Barnato

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