US Stock Futures Down Ahead Of Consumer Spending Data - Avis Budget Gr (NASDAQ:CAR), Astronics (NASDAQ:ATRO)

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Pre-open moversUS 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.

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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 (NASDAQ: 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. Breaking news

Panasonic (OTC: PCRFY) and Kohlberg Kravis Roberts & Co LP (together with its affiliates, "KKR") today announced the signing of a share purchase agreement and a shareholders' agreement under which Panasonic and KKR will become joint partners of Panasonic Healthcare Co. To read the full news, click here.
Astronics (NASDAQ: ATRO) announced a 20% stock distribution of Class B Stock to holders of both Common and Class B Stock. To read the full news, click here.
Beats Electronics LLC (Beats), the audio brand co-founded by legendary artist and producer Dr. Dre and Interscope Geffen A&M Chairman Jimmy Iovine, announced today that The Carlyle Group (NASDAQ: CG), the global alternative asset manager, has agreed to make a minority investment in Beats. To read the full news, click here.
CN (NYSE: CNI) announced today plans to start freight service on approximately 75 per cent of the rail network operated by bankrupt short-line Kelowna Pacific Railway Ltd. (KPR) in southern British Columbia after reaching trustee, customer and labour agreements that support resumption of operations. To read the full news, click here.