Futures begin February on a dour note after weak Chinese data

* Weak economic data from China, which showed that the world's second-largest economy's manufacturing sector contracted in January at the fastest pace since 2012, will exacerbate concerns regarding a China-led global slowdown. * Oil prices fell after China data added to worries about demand and an OPEC source played down talk of an emergency meeting to stem the decline. Oil prices have fallen more than 70 percent since mid-2014.