* Crude was down more than 3 percent after the failed talks in Doha
renewed fears of an escalating battle for market share among the
major producing countries and add to the stubborn global surplus.
* Shares of Chevron were down 1.8 percent in premarket trading,
while Exxon shed 1.6 percent.
* Global stocks fell, while gold edged up, as investors avoided
risky bets. Japan's stock market tumbled after a series of massive
earthquakes over the weekend.
* Adding to the dour start to the week was data that showed China's
economy grew at a slower-than-expected pace in the first quarter -
another sign that the world's second largest economy was still
* While macroeconomic and geopolitical factors continue to weigh on
markets, focus now turns to U.S. earnings reports as investors look
for the impact of the global turmoil on financial markets and the
slump in commodity prices on balance sheets.
* Morgan Stanley <MS.N> jumped 1.9 percent to $26.25 after the Wall
Street bank's quarterly profit beat estimates.
* Pepsico <PEP.N> was unchanged at $103.77 after the company
reported a fall in quarterly sales.
* Expectations for the first quarter are bleak, with earnings at S&P
500 companies seen falling 7.8 percent on average and revenue
expected to fall 1.6 percent, according to Thomson Reuters I/B/E/S.
* IBM and Netflix are slated to post results after the
[to top of second column]
* U.S. stocks closed slightly lower on Friday after a report that
Apple would continue its reduced production of iPhones.
* NetApp fell 2.5 percent to $24.50 on Monday after Sterne Agee cut
its rating on the stock to underperform.
Futures snapshot at 6:53 a.m. EDT:
* Dow e-minis were down 45 points, or 0.25 percent, with 25,119
contracts changing hands.
* S&P 500 e-minis were down 6.75 points, or 0.33 percent, with
225,285 contracts traded.
* Nasdaq 100 e-minis were down 12.75 points, or 0.28 percent, on
(Reporting by Abhiram Nandakumar in Bengaluru; Editing by Don
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