US Stock Futures Edge Lower Ahead Of ADP Report

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Pre-open movers
US stock futures traded slightly lower in early pre-market trade. Data on motor vehicle sales for March will be released today. The ADP national employment report for March will be released at 8:15 a.m. ET, while the Markit PMI manufacturing index for March will be released at 9:45 a.m. ET. The ISM manufacturing composite index for March and construction spending data for February will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 11.50 points to 17,691.50, while the Standard & Poor's 500 index futures fell 3.30 points to 2,057.45. Futures for the Nasdaq 100 index slipped 3.30 points to 4,326.20.
A Peek Into Global Markets
European markets were higher today, with the Spanish Ibex Index rising 0.91%, STOXX Europe 600 Index surging 0.70% and German DAX 30 index gaining 1.17%. French CAC 40 Index climbed 1.44% and London's FTSE 100 Index rose 1.03%. In Asian markets, Japan's Nikkei Stock Average fell 0.90%, Hong Kong's Hang Seng Index climbed 0.73%, China's Shanghai Composite Index jumped 1.66% and India's BSE Sensex climbed 1.08%.
Broker Recommendation
Analysts at Deutsche Bank downgraded Delta Air Lines, Inc.
DAL
from Buy to Hold and lowered the price target from $60.00 to $50.00. Delta Air Lines shares fell 1.02% to $44.50 in pre-market trading.
Breaking news
    Sears Holdings Corporation SHLD and General Growth Properties, Inc. GGP today announced that they have entered into a real estate joint venture under which Sears Holdings has contributed to the JV 12 Sears Holdings properties located at GGP malls, involving both existing Sears Holdings stores and certain property leased to third parties occupying former Sears Holdings stores. To read the full news, click here. Valeant Pharmaceuticals International VRX today announced the expiration of the tender offer by a subsidiary of Valeant Pharmaceuticals International to purchase all of the outstanding shares of Salix Pharmaceuticals, Ltd. SLXP for a price of $173.00 per share in cash, without interest, less any applicable withholding taxes. To read the full news, click here. Nexvet Biopharma NVET today announced it has appointed former Division Head of Novartis Animal Health Dr. George Gunn as non-executive chairman of the Nexvet Board of Directors. The appointment is effective from 31 March 2015. To read the full news, click here. MEDNAX, Inc. MD, today announced the acquisition of Texas Ear, Nose & Throat Consultants, PLLC, locally-known as Children's ENT of Houston, located in Houston, Texas. To read the full news, click here.
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Posted In: NewsEurozoneFuturesGlobalPre-Market OutlookMarketsDeutsche BankUS Stock Futures
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