Market Overview

US Stock Futures Down; ADP Report In Focus

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Deutsche Bank Believes Warranty Costs Are Likely To Decline For Tesla Motors
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The Tech Industry is Vanishing Before Our Eyes (Fox Business)
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UPDATE: Bank Of America Initiates Coverage On RCS Capital On Brokerage Firm In Transition
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Pre-open movers

US stock futures fell in early pre-market trade. The ADP national employment report for September will be released at 8:15 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 83 points to 15,037.00, while the Standard & Poor's 500 index futures fell 12.10 points to 1,677.30. Futures for the Nasdaq 100 index dropped 18 points to 3,227.50.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.35%, London's FTSE 100 index dropping 0.87% and STOXX Europe 600 Index declining 0.61%. German DAX 30 index fell 0.62% and French CAC 40 Index declined 0.74%. UK construction PMI fell to 58.90 in September, from a prior reading of 59.10.

Asian markets ended mostly higher today. Japan's Nikkei Stock Average fell 2.17%, Australia's ASX/S&P500 gained 0.17% and Hong Kong's Hang Seng Index surged 0.55%. Australia's trade deficit narrowed to A$815 million in August, from a deficit of A$1.4 billion in July.

Broker Recommendation

Analysts at Baird downgraded Tesla Motors (NASDAQ: TSLA) from “buy” to “neutral.” The target price for Tesla Motors is set to $187.

Tesla's shares dropped 2.78% to $187.64 in pre-market trading.

Breaking news

  • RCS Capital (NYSE: RCAP) and Investors Capital Holdings (NYSE: ICH) announced today that they have entered into a letter of intent relating to the acquisition by RCAP of ICH. To read the full news, click here.
  • Synergy Pharmaceuticals (NASDAQ: SGYP) today announced plans to move forward this quarter with SP-333, its proprietary next-generation guanylate cyclase-C (GC-C) agonist, into a phase 2 study for the treatment of opioid-induced constipation (OIC). To read the full news, click here.
  • Allot Communications (NASDAQ: ALLT) today announced it has received a new multimillion dollar order from a U.S.-based, multinational cloud provider for its Deep Packet Inspection-enabled Service Gateway solution. To read the full news, click here.
  • Profitero, the leading global provider of online competitor pricing data, today announced that Staples (NASDAQ: SPLS) has chosen to partner with Profitero for price monitoring and collection across multiple European countries. To read the full news, click here.

Posted-In: Baird US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets


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