NEW YORK (AP) -- Stock futures slipped Monday after manufacturing reports out of China and Europe pointed to slowing growth.
The Dow Jones industrial futures fell 15 points to 13,127. The Standard & Poor's 500 index futures fell 0.7 points to 1,402.5. The Nasdaq composite futures fell 1.5 points to 2,749.25.
While the Chinese report showed that the nation's purchasing managers' index gained momentum for the fourth straight month, an HSBC report said that, adjusted for seasonal factors, China's PMI is slipping. The HSBC data is more reflective of China's export sector and it shows the lowest average reading in three years during the first quarter.
Another survey in Europe suggested that the downturn in European manufacturing is getting worse and that unemployment in the 17 countries that use the euro has risen to 10.8 percent. That is the highest level of unemployment there since the launch of the euro in 1999.
Europe indexes were mixed.
The U.S. will release data later Monday on its own manufacturing sector, as well as a report on construction spending.
Economists expect that the Institute for Supply Management's manufacturing index increased last month to 53.4, according to a survey by FactSet. That would be up from 52.4 in February. Readings above 50 indicate expansion.
On Friday, the government reported that consumers increased their spending in February by the most in seven months. That points to a healthier climate for manufactures and others.
Economists also believe construction spending increased 0.7 percent in February, according to a survey by FactSet.
Both reports will be released at 10 a.m. Eastern on Monday.
On Monday, Avon Products Inc. rejected a buyout offer worth about $10 billion from beauty company Coty Inc., and shares soared 20 percent.
Avon reported a fourth-quarter loss earlier this year and is in the hunt for a new CEO. The company has struggled as it attempts to put behind it an overseas bribery investigation that began in 2008.
Also on Monday, Express Scripts announced that it had completed its $29.1 billion acquisition of Medco Health, creating the country's largest pharmacy benefits manager.
The announcement followed the end of the Federal Trade Commission's investigation into the deal, which cleared the last hurdle in the way.