LONDON (ShareCast) - US stocks declined early on Monday, amid disappointing data from China and growing concerns over Greek debt negotiations.
Just after 09:30 in New York, the Dow Jones Industrial Average was down 0.13% points to 17,748, while the S&P 500 and the Nasdaq lost 0.28% and 0.33% respectively.

On Sunday, Alex Tsipras, the Greek prime minister, insisted the country would not ask the European Union to extend its and the International Monetary Fund bailouts, with his anti-austerity proposals put before parliament on Monday.

Greece has until 16 February to request an extension, but Tsipras was adamant that would not be needed and announced the decision to reverse some of the reforms imposed by Greece's creditors.

Meanwhile, Chinese trade data also piled pressure on the markets, after figures showed a decline in demand from the domestic and foreign market. In January, exports fell 3.3%, while imports plummeted 19%.

US stocks declined on Friday after a stronger-than-expected monthly payrolls report fuelled speculations that the Federal Reserve might hike interest by June.

"The Fed has been unequivocal in its view that lower inflation is transitory due to energy effects," said David Absolon, investment director at Heartwood Investment Management.

"January's employment report will provide policymakers with more ammunition to raise rates in mid-2015.

"However, consumers are evidently cautious, and we believe that a Fed rate hike cycle will likely be very gradual so as not to de-stabilise a moderate expansion."

McDonald's declined 0.59% after the chain's same-restaurant sales fell more than expected in January, while Alcoa fell 3.20% after JP Morgan downgraded the stock from overweight to neutral.

Abercrombie & Fitch slid 6.09% after Wunderlich Securities cut the stock price target to $17 from $30.

Hasbro rose 3.26% after reporting a 31% increase in quarterly profit and announcing it planned share repurchases of $500m.

Gold futures rose, while the dollar was unchanged against the pound and the euro bot lost 0.3% against the yen.

Crude futures started the week on a positive note, with Brent crude gaining 1.1% to $58.46 a barrel, while the price of West Texas Intermediate rose 1.9% to $52.69 a barrel.

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