U.S. stock index futures remained in negative territory Monday, following a weaker-than-expected retail sales report and after stocks staged a sharp rally in the previous session, snapping six-day losing streak.
Citigroup posted quarterly earnings that topped expectations, but revenue was slightly lighter than expected. Still, shares rallied in pre-market trading. (Read More: Dennis Gartman—Now’s the Time to Buy Banks)
Citigroup's earnings followed after Wall Street cheered better-than-expected reports from both JPMorgan and WellsFargo last week.
Several companies, especially in the tech sector, have warned on profits in recent weeks. Negative to positive earnings guidance for the second quarter is 3.3 to 1, the worst since 2008, according to data from Thomson Reuters.
On the economic front, retail sales declined 0.5 percent in June, according to the Commerce Department, falling for the third-consecutive month. Analysts surveyed by Reuters had expected a gain of 0.2 percent.
Also on the economic front, a gauge of manufacturing in New York state rebounded in July to 7.39 from 2.29 in June, according to the New York Fed's "Empire State" index. Economists had expected a reading of 4, according to a Reuters poll.