U.S stock index futures were lower Monday following weaker-than-expected Chinese trade export news and after stocks surged to multiyear highs in the previous week.
China reported disappointing export and import data for August. Exports grew by 2.7 percent year-on-year, while imports fell by 2.6 percent on the year.
Last week, global shares surged after the ECB confirmed it will purchases bonds of struggling euro zone countries to bring down their borrowing costs.
Positive sentiment on the news continued into Friday’s session, but U.S. stocks zigzagged after a dismal August jobs report added ballast to slowdown fears, but raised hopes the Federal Reserve will enact further stimulus measures when it meets on Wednesday and Thursday this week. (Read More: Markets Crave Stimulus—Will the Fed Give Them Their Fix?)
AIG declined after the Treasury Department said it will sell most of its stake in the insurer, making the government a minority investor for the first time since it rescued the company nearly four years ago.
BP said it will sell some of its deep-water Gulf of Mexico oil and gas properties to Plains Exploration & Production in a deal worth $5.6 billion.