NEW YORK (CNN/Money) - Early indications point to a lower U.S. stock opening Monday as investors reflect on last week's economic numbers and gear up for a possible 11th interest rate cut when Federal Reserve policy makers meet.
Nasdaq-100 and Standard & Poor's futures were both moderately lower.
There was lots of cheering last week when the Dow Jones industrial average topped the 10,000 mark and the Nasdaq composite index surpassed 2,000.
But both market indicators were hard-pressed to finish above those barriers as the week ended, due primarily to an even weaker-than-expected report on November employment, which almost guaranteed Fed rate cut action Tuesday.
That report and indications of weak chain-store sales last month continue to raise questions about whether there's really an economic recovery going on.
There will be more indications about the economy later in the week. The government's take on retail sales last month is due Thursday, and readings on inflation at the retail and wholesale levels are also on tap.
The Dow industrials begin the week at 10,049.46 after having lost nearly 50 points Friday. The Nasdaq composite index is at 2,021.26 following a 33-point retreat, while the Standard & Poor's 500 starts at 1,158.31 after dropping close to 9 points.
Asian stocks deflated Monday, with Tokyo's Nikkei index down more than 2 percent. Technology stocks led European markets lower in midday trading.
Treasury prices were higher in early trading, with the 10-year note slipping to 5.09 percent from 5.14 percent late Friday. The dollar strengthened against both the yen and euro. The yen's slide against the dollar followed more bad news last week about further weakness in the Japanese economy. Brent oil futures fell 55 cents to $18.60 barrel in London.
In corporate news developments, AT&T (T: Research, Estimates) said Sunday it has not reached a decision on what to do about its cable television unit, and is still talking with all potential suitors. The company's shares fell 40 cents to $17.68 Friday.
Citigroup and UBS AG plan to bid for the trading operations of Enron (ENE: Research, Estimates), which could prove the first step toward a potential bankruptcy-court auction for the Houston company's flagship business, according to a Wall Street Journal report Monday. Enron shares gained 11 cents to 85 cents in before-hours trading Monday.
A key Hewlett-Packard (HWP: Research, Estimates) shareholder said late Friday it likely will vote against the company's proposed controversial merger with Compaq Computer (CPQ: Research, Estimates). The board of the David and Lucille Packard Foundation, which holds nearly 10 percent of HP's stock, said in the quarterly meeting that it made a preliminary decision to oppose the deal. Hewlett shares gained $1.93 to $25.44 in before-hours trading, while Compaq lost $1.40 to $9.96.
USX-U.S. Steel (X: Research, Estimates) is in talks to buy rival steelmaker National Steel, a unit of Japan's NKK Corp., the two companies said Sunday, citing an onslaught of cheap imported steel as a reason for the merger. U.S. Steel shares gained 5 cents to $18.27 Friday. 
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