US STOCKS-Futures fall in wake of weak payrolls data

* Herbalife shares fall after investigation report

* Futures off: Dow 120 pts, S&P 14.5 pts, Nasdaq 32 pts

By Rodrigo Campos

NEW YORK, April 6 (Reuters) – S&P Futures fell in low volume on Monday as Wall Street was set to open for the first time since Friday’s surprisingly weak jobs data.

* Labor Department data showed U.S. employers last month added the fewest jobs in more than a year. The rise of 126,000 jobs was well below economists’ expectations for a gain of 245,000. The data was released on Good Friday, when Wall Street was closed.

* Major European markets were closed from Friday through Monday for the Easter holiday, and were set to reopen Tuesday.

* The jobs data eased some concerns that the U.S. dollar would continue to strengthen and further pressure earnings of companies with international exposure. It also pushed expectations of a rate hike from the Federal Reserve further down the road.

* However, investors are concerned that a patch of soft economic data, including jobs, factory activity and consumer spending, may be linked to more than a weather-related slowdown and could indicate a loss of momentum in the U.S. economy.

* Herbalife shares fell 6.8 percent in premarket trading after a weekend report from CNBC said U.S. law enforcement agencies contacted several top Herbalife members.

* 500.com fell 12.1 percent in premarket trading after it announced it will suspend online lottery sales in China.

Futures snapshot at 7:27 a.m. EDT (1127 GMT):

* S&P 500 e-minis were down 14.5 points, or 0.7 percent, with 43,266 contracts changing hands.

* Nasdaq 100 e-minis were down 32.25 points, or 0.75 percent, in volume of 8,459 contracts.

* Dow e-minis were down 120 points, or 0.68 percent, with 9,810 contracts changing hands.

(Editing by Bernadette Baum)