Before the Bell: 5 things you should know

European markets are mostly lower on Monday in the wake of last week's disappointing American and Chinese economic data. Skepticism that a Eurozone finance ministers meeting will make any significant progress to remedy the region's debt woes is also weighing on investors this morning. Moreover, Spanish bond yields have crept above the seven per cent mark, a level considered unsustainable over the long-term.

In Asia, global economic growth worries is laying markets low with Chinese and Japanese stocks suffering their worst day of trading since last June. Investors will be watching for a raft of Chinese economic data due this week to determine whether China is headed for a hard or soft landing.

Prior to the TSX open, here's what you should know:

*U.S. futures point to a lower open with fragile investor sentiment the order of the day. Futures on the Dow Jones Industrial Average are down 0.39 per cent, futures on the Standard & Poor's 500 index are down 0.53 per cent and futures on the Nasdaq 100 index are down 0.30 per cent.

*Oil prices are hovering just above US$85 per barrel. Benchmark oil for August delivery was up 41 cents at $84.86 a barrel. Crude fell $2.77 to settle at $84.45 on Friday in New York. Brent crude for August delivery was up 86 cents to 98.95 per barrel.

*Spot gold dropped to its lowest price in almost two weeks of $1,575.89 an ounce. U.S. gold futures contract for August delivery edged up 0.2 per cent to $1,581.90.

*The Canadian dollar closed down 0.41 a cent last Friday to 98.17 cents US.

*On the U.S. economic data calendar for Monday is a market consumer credit report for May. Later this week, market participants will be eyeing a slew of Chinese economic data and the Federal Open Market Committee will release its minutes on Wednesday. The latter should indicate to investors the probability of whether or not the Fed will embark upon a third round of quantitative easing.