US stocks retreated from record positions on Monday as technology and industrial shares weighed on Wall Street indexes, while Chinese iron ore futures hit three-week highs.

The local share price index futures fell 0.1 percent or 5 points to 5,870, a 24-point discount to the underlying S&P/ASX 200 index close.

The benchmark snapped an eight-session streak of gains to fall 0.2 percent on Monday, as investors took profits.

New Zealand's benchmark S&P/NZX 50 index fell 0.1 in early trade.