U.S. stocks were pointing to a lower open Monday as Citigroup's second-quarter results kicked off a week chock full of corporate quarterly data.
Dow Jones industrial average, S&P 500 and Nasdaq futures were lower. Stock futures indicate the possible direction of the markets when they open at 9:30 a.m. ET.
Citigroup outperformed expectations in the second quarter, reporting earnings per share of 95 cents. Its quarterly revenue of $18.6 billion was 10% lower than the same quarter last year.
Citi follows earnings from JPMorgan Chase and Wells Fargo, which both reported Friday.
Goldman Sachs, Bank of America, Johnson & Johnson and a slew of tech firms, including Yahoo, Google, Intel and Microsoft will all be reporting this week.
Brian Lazorishak, a portfolio manager at Chase Investment Counsel in Charlottesville, Va., said investors will be focused on changes companies make to their guidance. He said outlooks for the fourth quarter are likely to get ratcheted down.
Worries about a slowdown in China were heightened over the weekend when Chinese Prime Minister Web Jiabao said his country's economic troubles will continue.
And anxiety remains over the European debt crisis. Investors are concerned that political headwinds in Europe will stymie the latest rescue plan for the euro currency union, which eurozone leaders announced at a summit meeting late last month.
U.S. stocks rallied Friday, with the Dow and S&P 500 breaking a six-day losing streak.
World markets: European stocks fell in afternoon trading. Britain's FTSE 100 and the DAX in Germany slipped were flat, while France's CAC 40 lost 0.2%
Asian markets ended mixed. The Shanghai Composite fell 1.7%, while the Hang Seng in Hong Kong ticked up about 0.2%. Japanese markets were closed for a holiday.
Economy: Retail sales for June came in weak, showing a 0.5% decline from the previous month. Nearly every sector took a hit, from furniture and electronics shops to gas stations and sporting goods stores. Analysts expected a 0.2% increase over May.
At 10 a.m. ET, the Census Bureau will release data on business inventories for May, which are expected to have risen by 0.2% from April.
Companies: Shares of biopharmaceutical company Human Genome Sciences rose more than 3% in premarket trading. Rival GlaxoSmithKlein is expected to announce it's raising its buyout offer by a buck a share to $14, according to news reports.
Nokia shares fell at least 2% in premarket trading, after the cell phone maker said it would slash the price of its flagship smartphone in the United States. The cost of the Lumia 900 will drop to $49.99, as the company struggles to gain ground against the more popular Apple and Samsung.
Shares of Visa and MasterCard rose more than 3% in premarket trading, following an announcement that the credit card companies had settled a massive antitrust case with merchants.
Currencies and commodities: The dollar rose against the euro and the British pound, but fell against the Japanese yen.
Oil for August delivery fell 38 cents to $86.72 a barrel.
Gold futures for August delivery fell $8.70 to $1,583.30 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 1.48% from 1.50% late Friday.