Stocks poised to fall after Chinese rate hike

NEW YORK (AP) — Stocks are poised to fall in early trading after China moved to raise interest rates over the weekend to combat rising inflation.

It is the second time in the last three months that the country has taken steps to slow the pace of its economic expansion.

A blizzard in the Northeast after the holiday weekend is likely to make this a quiet day on Wall Street. There are no major economic reports or corporate earnings announcements scheduled for Monday.

Ahead of the opening bell, Dow Jones industrial average futures are down 34, or 0.3 percent, to 11,488. SP 500 futures are down 4, or 0.3 percent, to 1,245. Nasdaq 100 futures are down 3, or 0.1 percent, to 2,223.

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