MARKET SNAPSHOT: U.S. Stocks: Futures Nudge Lower As Investors Wait For Fed

By Karen Friar, MarketWatch

LONDON (MarketWatch) -- U.S. stock futures pointed lower on Monday after weak Chinese factory data over the weekend and as investors wait for more signals from the Federal Reserve on the timing of its interest-rate hike.

Futures on the S&P 500 (SPX) fell 3.25 points, or 0.16%, to 1,973.50, while those for the Dow (DJI) dropped 21 points, or 0.12%, to 16,885.00. Futures for the Nasdaq (RIXF) fell 5.25 points, or 0.13%, to 4,056.75.

Official figures from China on Saturday showed the country's industrial output growth slipped in August to the lowest level since the 2008 global financial crisis, dealing a blow to companies and economies dependent on China.

Investors may also be keeping to the sidelines somewhat ahead of the two-day Federal Open Market Committee meeting, scheduled to begin Tuesday. They will be watching for clues on when the Fed expects to begin raising interest rates, listening to hear whether the hike could come sooner than expected.

Data: The New York Fed's Empire State index on manufacturing for September is expected at 8:30 a.m. Eastern Time, forecast to come in at 16.0, compared with 14.7 the previous month.

August readings on industrial production and capacity utilization follow at 9:15 a.m. Eastern Time.

Stocks to watch: Yahoo Inc (YHOO) shares gained more than 8% last week and are expected to remain in the spotlight as Alibaba gets set to launch its IPO this week. Yahoo holds roughly a 23% stake in the Chinese e-commerce giant and intends to sell those during the IPO, raising the prospect of a big cash windfall.

Apple Inc (AAPL) could see action after the tech company said Friday preorders for its new iPhones are at a record, though it didn't provide specific figures.

Netflix (NFLX) is launching in three new markets in Europe on Monday, with initial resistance to the arrival of the streaming-media company in France potentially alleviated by a set-top box deal with Bouygues SA .

U.S. health-care group Danaher Corp. said Monday it will buy Swiss dental-implant maker Nobel Biocare Holding AG in a cash deal worth $2.1 billion.

Other markets: In Asia, stocks listed in Hong Kong fell to mark a seventh session of losses, under pressure from the weak Chinese data. The dollar (USDJPY) climbed against the yen to Yen107.24.

European stocks were also falling, with the Chinese data in sight. Gold prices (GCZ4) were moving up, while oil futures (CLV4) were losing ground.

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