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US stock futures are pointing about 1% less. China's government data showed that the country's huge export industry suffered its worst month in two years in December, another sign of slowdown. Shares were down 0.7% in China and 1.4% in Hong Kong.

In addition to the poor performance in the markets, there was a 1.7% drop in industrial production in the euro area in relation to the previous month. From Capital Economics:

The wide recession in industrial production in November highlights the serious malaise in Europe's industrial sector.

The report only raises concerns over German economic data that will be released tomorrow: the European powerhouse may have entered recession in late 2018.

The Dow closed on Friday, ending its five-day winning streak. The S & P 500 was little changed and the Nasdaq closed down 0.2%.

Also ahead: Citigroup (C) is the first major US bank to release this earnings season. It is set to release earnings before the open.


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