Wall Street heads lower in premarket following Asian losses

NEW YORK (AP) — U.S. markets were pointing toward losses before the open on Monday, following Asian markets lower after China reported that its economy expanded at a 4.8% annual pace in January-March. Futures for the S&P 500 lost 0.3% and that for the Dow Jones Industrial Average slipped 0.1%. Markets in Europe and in Hong Kong and Sydney were closed for holidays. Oil prices edged up slightly and benchmarks fell in Tokyo, Seoul and Shanghai. China’s growth has fallen well below the official target of 5.5% for 2022. In quarterly terms the economy grew 1.3% compared with 1.4% in the last quarter of 2021.