* China Feb exports fall most in more than six years
* Urban Outfitters up after better-than-expected results
* Futures down: Dow 52 pts, S&P 7.75 pts, Nasdaq 19.25 pts (Adds details, comment, updates prices)
By Abhiram Nandakumar
March 8 (Reuters) - Wall Street was set to open lower on Tuesday, after weak Chinese data rekindled fears of a global economic slowdown led by the world’s second-biggest economy.
China’s February trade performance was far worse than economists had expected, with exports tumbling the most in over six years. The data weighed on markets worldwide.
“(The China data) suggests the fragile nature of the market’s psychology right now,” said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida.
“People are still very much nervous. You are now starting to get a bit of a debate about whether things have gotten overdone,” he said.
Crude prices reversed course and were up about 1 percent.
Oil has recovered from the 2016 low touched in January, but Goldman Sachs analysts on Tuesday said the recent rally was premature as prices would need to remain lower to help rebalance the market later in the year.
At 8:08 a.m. ET (1308 GMT), Dow e-minis were down 52 points, or 0.31 percent, with 34,663 contracts changing hands. S&P 500 e-minis were down 7.75 points, or 0.39 percent, with 249,556 contracts traded. Nasdaq 100 e-minis were down 19.25 points, or 0.45 percent, on volume of 34,480 contracts.
Investors are focusing on data for clues on the state of the global economy and monetary policies of central banks across the world.
The European Central Bank is expected to announce further stimulus at its meeting later this week.
In contrast, the U.S. Federal Reserve is looking to raise interest rates this year as a raft of data suggested the economic recovery in the United States was gaining momentum.
The S&P 500 and the Dow Jones industrial average closed higher on Monday, helped by a surge in energy shares, while the Nasdaq was dragged down by declines in technology stocks.
The S&P logged its first five-day streak of gains since October and closed above 2,000 for the first time since Jan. 5.
Shares of Urban Outfitters were up 9 percent at $30.70 premarket, after the company reported better-than-expected sales for its bohemian-inspired Free People brand.
Shake Shack was down 8.1 percent at $38.83 after the burger chain issued disappointing results and forecast.
Dick’s Sporting Goods was down 6.2 percent at $41.60 after the company forecast first-quarter profit below estimates.
AutoNation was down 2.7 percent at $52.85 after Goldman Sachs cut its rating on the stock to “sell”. (Reporting by Abhiram Nandakumar in Bengaluru; Editing by Anil D‘Silva)