Market Overview

US Stock Futures Edge Lower Ahead Of ADP Report

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US Stock Futures Edge Lower Ahead Of ADP Report

Pre-open movers

US stock futures traded lower in early pre-market trade. Data on motor vehicle sales for September will be released today. The ADP national employment report for September will be released at 8:15 a.m. ET, while the Markit PMI manufacturing index for September will be released at 9:45 a.m. ET. The ISM manufacturing composite index for September and construction spending data for August will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average dropped 13 points to 16,952.00, while the Standard & Poor's 500 index futures fell 2.50 points to 1,963.00. Futures for the Nasdaq 100 index declined 7.75 points to 4,037.00.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index rising 0.16%, STOXX Europe 600 Index dropping 0.17%. German DAX 30 index rose 0.11%, French CAC 40 Index declined 0.44% and London's FTSE 100 Index dropped 0.52%. The eurozone manufacturing PMI declined to 50.3 in September, versus a prior estimate of 50.5. German's manufacturing PMI dropped to 49.9 in September.

In Asian markets, Japan's Nikkei Stock Average dropped 0.56%, Hong Kong's Hang Seng Index fell 1.28%, China's Shanghai Composite Index rose 0.26% and India's BSE Sensex dropped 0.23%. China's official manufacturing PMI came in unchanged at 51.1 in September. South Korea's exports increased 6.8% y/y to $47.69 billion in September versus a revised 0.2% drop in August. Imports surged 8% to $44.33 billion in September.

Broker Recommendation
Analysts at Northland Securities upgraded Angie's List (NASDAQ: ANGI) from Underperform to Market Perform. The target price for Angie's List has been raised from $6.75 to $8.

Angie's List shares jumped 22.45% to $7.80 in pre-market trading.

Breaking news

  • Compugen (NASDAQ: CGEN) today disclosed results from recent studies further confirming CGEN-15049 as a promising target candidate for cancer immunotherapy. To read the full news, click here.
  • Zafgen (NASDAQ: ZFGN) today announced that the Company has initiated the first Phase 3 clinical trial, in the United States, with its lead product candidate, beloranib, in the treatment of Prader-Willi syndrome (PWS). To read the full news, click here.
  • LSI Industries (NASDAQ: LYTS) today announced that it has appointed Dennis W. Wells as Chief Operating Officer (COO) effective immediately.To read the full news, click here.
  • RCS Capital (NYSE: RCAP) announced today that it has entered into a definitive agreement to acquire Cole Capital Partners, LLC and Cole Capital Advisors, Inc. (together, "Cole Capital") from American Realty Capital Properties (NASDAQ: ARCP) for $700 million plus contingent consideration. To read the full news, click here.

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

 

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