US Stock Futures Signal Lower Open On Global Growth Worries

U.S. stock index futures point to a lower opening Monday, as investor sentiment remained fragile amid concerns of a gloomy global economic outlook.

Futures on the Dow Jones Industrial Average were down 0.39 percent, futures on the Standard & Poor's 500 index were down 0.53 percent and futures on the Nasdaq 100 index were down 0.30 percent.

European Central Bank President Mario Draghi's testimony to the European parliament is likely to be the key event Monday with investors keen to see whether any further comment will be offered on renewed policy measures.

Investor sentiment is also likely to be affected by the report that Japan's core machinery orders slumped in May. According to data released by the Japanese Cabinet Office Monday, core machinery orders slumped to 14.8 percent in May down from a 5.7 percent increase in April.

Investors are likely to focus on the second-quarter earnings releases over the coming days. Alcoa (NYSE: AA), which is often seen at the curtain-raiser, will release its earnings report later Monday with a number of key financials publishing their results later in the week.

On Friday, the U.S. markets fell as investor sentiment turned negative following the weak jobs data indicating that the economy is faltering. According to nonfarm payrolls reported by the Bureau of Labor Statistics, 80,000 new jobs were created, as against the expected 90,000 new jobs. The Dow Jones industrial average fell 0.96 percent, the S&P 500 Index was down 0.94 percent and the Nasdaq Composite Index declined 1.30 percent.

Major European indices were in the red as investors continued to be worried about the economic growth in the euro zone. London's FTSE 100 was down 1.17 points, Germany's DAX 30 Index declined 5.52 points and France's CAC 40 fell 2.67 points.

Asian markets also fell Monday following global cues. Market participants are getting anxious as they feel that further stimulus measures are urgently needed to boost the global economy.