U.S. stock index futures signaled a lower open on Monday, set to follow European markets into negative territory as negotiations over Greece's bailout program continue to keep investors cautious.
European stocks were sharply lower , with the pan-European FTSEurofirst 300 (FTSE International: .FTEU3) down over 1.3 percent in early trade, while Greek bonds continued to face heavy selling pressure.
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Shares on the Athens Stock Exchange tumbled around 5 percent on Monday, as Greek Prime Minister Alexis Tsipras said his election pledge to end austerity by restructuring Greece's debt was "irrevocable" in his inaugural speech in parliament late Sunday.
Greek bonds sold off following the speech, with the short-end of the market hit hardest. Greek two-year bonds soared to yield 20.7 percent, while five-year and 10-year yields climbed to trade around 16 percent and 11 percent respectively.
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Last week's strong jobs report has also made investors jittery as the improvements in the labor market could increase potential for an early interest rate hike from the U.S. Federal Reserve.
The coming week should be a less eventful one for economic data, with no major releases due Monday. Major data expected later in the week includes January's retail sales figures, due on Thursday.
Earnings season is still in full swing, with Hasbro (NASDAQ: HAS) expected to report fourth-quarter figures before market open, along with Masco (NYSE: MAS) and CNA Financial (NYSE: CNA).
Computer Sciences (NYSE: CSC), Credicorp (: BAP-PE) and NetEase (NASDAQ: NTES) are all due after the bell.