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Futures slightly lower as oil weighs

U.S. stock index futures indicated a lower start to the week as a decline in oil prices weighed and investors looked ahead to the Federal Reserve's monetary policy decision due Wednesday.

The central bank is not expected to make a rate change, but investors will scrutinize the statement and Fed Chair Janet Yellen's press conference for clues on the path of tightening.

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Oil traded lower, with WTI off more than 2.5 percent near $37.40 a barrel as of 8:59 a.m. ET.

Iran Oil Minister Bijan Zanganeh said the country would join discussions among other producers about a possible oil production freeze after its own output reached four million barrels per day, according to a Reuters article citing Iran's ISNA news agency.

Treasury yields were lower, with the 2-year yield at 0.95 percent. The U.S. dollar index traded slightly higher as the euro traded near $1.11 and the yen at 113.61 yen against the greenback.

No major earnings or economic data are due on Monday, but later in the week there will be results from Oracle, FedEx and Tiffany.

U.S. stocks closed sharply higher Friday, boosted by rising oil prices and the announcement of fresh stimulus measures by the European Central Bank last week.

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European stocks traded higher, but off session highs as declines in oil weighed.

Asian equities closed higher, with the Nikkei 225 and Shanghai composite both up more than 1.7 percent.

Both China's central bank governor and new securities regulator spoke over the weekend.

The People's Bank of China won't resort to excessive stimulus to bolster growth but will keep a flexible stance in the event of an economic shock — domestic or global, Governor Zhou Xiaochuan said, while reiterating the authority's prudent monetary policy, Reuters reported.

China will not reintroduce the circuit breaker mechanism to its stock markets in the next few years, Liu Shiyu, chairman of the China Securities Regulatory Commission said in a Reuters report.

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