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Wall Street seen down after Alibaba, Scotland buzz

Wall Street looked set to start the week lower, with U.S. stock index futures and European markets trading down, following the buzz around Alibaba's market debut and the Scottish independence vote last week.

"After a tremendous week, traders are taking it easing this morning and have a much softer tone as compared to previous week when we had a Scottish referendum and the biggest IPO in history," Naeem Aslam, a market strategist at Avatrade, said in a morning note.

Alibaba shares will be worth watching again on Monday, after soaring around 38 percent after launching on Friday.

"I am bullish on the company and any pullback could be a buying opportunity," said Aslam.

No major earnings are due on Monday, except for AutoZone ahead of Wall Street's open.

Stocks to eye include oilfield equipment maker Dresser-Rand Group, after media reports over the weekend that it is a nearing a buyout deal with Germany's Siemens.

Read MoreSiemens near deal to buy Dresser-Rand: Sources

Plus, Microsoft has delayed the launch of its Xbox One game console in China, which had been set for Tuesday. This is the latest in a series of setbacks for the software giant in China, where it is under investigation for suspected antitrust violations.

Outside of the corporate space, existing home sales for August will be in the limelight on Monday, and are due out at 10 a.m. ET. Forecasts suggest sales of both previously owned and new homes grew last month

Investors will also listen out for remarks from the U.S. Federal Reserve's William Dudley, who will speak at the Bloomberg Markets Most Influential Summit in New York.

Over the weekend, former Treasury Secretary Larry Summers argued for a major infrastructure program to boost economic growth. Speaking to Fox on Sunday, he advised the government to borrow while rates were low, and said renewing ageing infrastructure now would be beneficial in the long run.

Read MoreChange of tone by Fed dove Dudley may lift dollar

—By CNBC's Katy Barnato