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Futures slightly lower; oil eyed

U.S. stock index futures indicated a slightly lower open on Monday, after five straight weeks of gains, as investors focused on the price of oil and monitored comments by Federal Reserve members.

U.S. crude oil futures for April delivery reversed losses to attempt gains, trading near $39.60 a barrel as of 8:44 a.m. ET. After the settle, the contract rolls to May, which was near $41.30 a barrel in morning trade.

Brent oil futures fell in early trade on Monday but bounced slightly and helped global "risk-on" sentiment to pick up. In Europe, stocks were flat in mid-morning trade after opening the session lower. China's Shanghai Composite and Shenzhen Composite finished in positive territory after state-backed China Securities Finance Corp said it would begin to offer margin financing to securities firms again after a previous suspension.

On the data front, the Chicago Fed national activity index declined to minus 0.29 in February from 0.41 in January.

Existing home sales are due at 10 a.m. ET.

On Monday morning, Richmond Fed President Jeffrey Lacker said U.S. inflation will likely accelerate in the coming years and move toward the Federal Reserve's 2 percent target, according to Reuters.

Later in the session, Atlanta Fed President Dennis Lockhart speaks on the economic outlook and monetary policy at 12.40 p.m. ET. At 8.30 p.m. Monday evening, St. Louis Fed President James Bullard speaks on economic inequality.

In corporate news, IHS reported better-than-expected quarterly results. Mattress Firm is also due to report after the bell. Apple is holding a new product launch. The tech giant is widely expected to unveil a new 4-inch iPhone, a new 9.7-inch iPad, new Apple Watch bands and some software updates at an event Monday at its Cupertino, California, headquarters.

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Markets will only be open for four days this week ahead of the Good Friday holiday.

— CNBC's Harriet Taylor contributed to this article.