Stock market news live updates: Stock futures, oil prices decline after China data disappoints

Stock market news live updates: Stock futures, oil prices decline after China data disappoints

U.S. stock futures traded lower on Monday, with equities resuming a downward slide as concerns over the growth outlook persisted amid elevated inflation.

Contracts on the S&P 500 declined by about 0.3% ahead of the opening bell. Nasdaq futures dropped 0.5%, as mega-cap technology companies including Apple (AAPL) and Amazon (AMZN) each headed for lower opens. Contracts on the Dow Jones Industrial Average traded little changed to slightly lower.

U.S. crude oil prices (CL=F) declined for the first time in four sessions after new economic data from China came in weaker-than-expected, as the latest wave of virus-related restrictions in the country curbed mobility. China's retail sales dropped by 11.1% in April over last year, marking the worst decline since March 2020, while industrial production unexpectedly dropped by 2.9% compared to the same month last year.