U.S. stock index futures were lower Monday, as investors looked to take a breather following last week's sharp rally and as euphoria over the Federal Reserve's decision on quantitative easing faded.
European shareswere lower as fears about the euro zone’s indebted peripheral nations resurfaced with thousands protesting in Spain and Portugal austerity measures.
Stocks logged a four-day rally last Friday and posted sharp gains for the second-straight week as investors cheered the Federal Reserve’s decision to embark on another round of monetary stimulus.
AT&T said it set a sales of Apple's iPhone 5 set a record over the weekend, making the new device the fastest-selling iPhone the company has ever offered. Meanwhile, BMO raised its price target to $750 from $680 on the iPhone maker.
Tyco International declined after shareholders approved a breakup of the industrial conglomerate into three parts.
On the M&A front, IRIS International surged after Danaher said it will acquire the diagnostics company in a deal worth $355 million.