US equity futures were falling ahead of Monday's opening bell following the US credit downgrade by Moody's.

Dow Jones Industrial Average futures were down 0.6%, S&P 500 futures retreated 1.1%, and Nasdaq futures were 1.6% lower.

Moody's on Friday lowered the country's credit rating to Aa1 from Aaa and changed its outlook to stable from negative.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.5% at $65.11 per barrel and US West Texas Intermediate crude 0.4% lower at $61.70 per barrel.

The index of leading economic indicators, slated for 10 am ET, is seen falling by 0.7% for April to match March's decline, according to estimates compiled by Bloomberg.

In other world markets, Japan's Nikkei closed 0.7% lower, Hong Kong's Hang Seng declined 0.1%, and China's Shanghai Composite finished flat. Meanwhile, the UK's FTSE 100 was down 0.4%, and Germany's DAX index was flat in Europe's early afternoon session.

In equities, Novavax (NVAX) shares were up 19% pre-bell after the company said its COVID-19 vaccine has been cleared for use by the US Food and Drug Administration in limited cases. Ryanair (RYAAY) stock was up 5.5% after the company reported higher fiscal 2025 revenue.

On the losing side, Gilat Satellite Networks (GILT) shares were down 4.8% after the company reported lower Q1 adjusted earnings.