US Stock Futures Down Ahead Of Consumer Spending Data

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Pre-open movers
US stock futures declined in early pre-market trade, ahead of consumer spending data. Data on consumer spending for August will be released at 8:30 a.m. ET, while the Reuter's/University of Michigan's consumer sentiment index for September will be released at 9:55 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 52 points to 15,209.00, while the Standard & Poor's 500 index futures fell 6.90 points to 1,685.60. Futures for the Nasdaq 100 index dropped 11.25 points to 3,214.75.
A Peek Into Global Markets
European markets were lower today, with the Spanish Ibex Index falling 0.68%, London's FTSE 100 index dropping 0.76% and STOXX Europe 600 Index declining 0.35%. German DAX 30 index fell 0.42% and French CAC 40 Index declined 0.29%. Italian business sentiment rose to 83.3 in September versus 82.0 last month. The French economy expanded 0.5% in the second quarter from the first quarter. Spanish consumer price index increased at an annual rate of 0.5% in September versus a 1.6% rise in August. UK house prices surged 0.9% in September from August, according to a monthly survey. Asian markets ended mostly higher today. Japan's Nikkei Stock Average fell 0.26%, China's Shanghai Composite climbed 0.20% and Australia's ASX/S&P500 gained 0.27%. Hong Kong's Hang Seng index rose 0.35% and India's Sensex tumbled 0.84%. Japan's core consumer prices increased 0.8% y/y in August, versus a 0.7% rise in July.
Broker Recommendation
Analysts at Goldman Sachs downgraded Avis Budget Group
CAR
from “buy” to “neutral.” The target price for Avis Budget Group has been lowered from $33 to $30. Avis Budget's shares closed at $28.04 yesterday.
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Posted In: NewsEurozoneFuturesGlobalPre-Market OutlookMarketsGoldman SachsUS Stock Futures
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