US futures fall in wake of Friday selloff

New York - US stock index futures fell on Monday, putting the S&P 500 on track for its third straight decline, after weakness in momentum names sent the Nasdaq and benchmark S&P index to their worst drop since February in the prior session.

The US bourse is set to open higher as European leaders get ready to meet. Credit: REUTERS

Facebook lost 1.1 percent to $56.14 in premarket trade.

The forecast is down sharply from the start of the year, when growth was estimated at 6.5 percent.

S&P 500 e-mini futures fell 8.25 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract.

Dow Jones industrial average futures lost 57 points and Nasdaq 100 futures declined 29 points.

Questcor shares surged 34.1 percent to $91 while Mallinckrodt rose 10.4 percent to $69 in premarket.

The company said the US Food and Drug Administration extended the review date of its inhaled insulin treatment by three months.

The company's experimental breast cancer drug in a clinical trial nearly doubled the amount of time patients lived without their disease getting worse, but overall survival was not yet shown to be statistically significant, researchers said.