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* Futures: Dow, S&P 500 and Nasdaq down 0.13%
By Shreyashi Sanyal
Dec 9 (Reuters) - U.S. stock index futures edged lower on
Monday as weak data from China brought back fears of a slowdown
in the world's second-biggest economy, while investors awaited
more news on trade ahead of a tariff deadline later in the week.
China's exports in November shrank for the fourth
consecutive month, underscoring persistent pressures on
manufacturers from the Sino-U.S. war but growth in imports may
be a sign that Beijing's stimulus steps are helping to stoke
demand. Wall Street gained ground on Friday, driven by a blowout
domestic jobs report and optimism around the U.S.-China trade
negotiations. All three major U.S. stock indexes are hovering
within 1% of record highs set two weeks ago.
In a quiet start to the week, market participants are
expected to keep a close watch on trade as planned U.S. tariffs
on Chinese imports kick in on Dec. 15 that will cover several
consumer products, including mobile phones and toys.
Also in focus is the Federal Open Market Committee's two-day
policy meeting, which starts on Tuesday.
At 7:00 a.m. ET, Dow e-minis 1YMcv1 were down 37 points,
or 0.13%. S&P 500 e-minis EScv1 were down 4 points, or 0.13%
and Nasdaq 100 e-minis NQcv1 were down 10.75 points, or 0.13%.
Among stocks, 3M Co MMM.N shares dropped 1% in premarket
trading after Citigroup cut its rating on the industrial
conglomerate's shares to "neutral".
Macy's Inc M.N fell 2% after Goldman Sachs reportedly
downgraded shares of the department store operator to "sell".
In deals, Merck & CO MRK.N said it would buy cancer drug
developer ArQule Inc ARQL.O for $2.7 billion in cash to beef
up its portfolio of blood cancer treatments. Shares of ArQule
doubled in value following the news.