US Stock Futures Tumble Ahead Of Economic Data

Pre-open movers US stock futures traded lower in early pre-market trade. Data on Motor vehicle sales for August will be released today. The manufacturing PMI for August will be released at 9:45 a.m. ET, while the ISM manufacturing index for August and construction spending data for July will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average dipped 319 points to 16,189.0, while the Standard & Poor's 500 index futures fell 39.50 points to 1,929.75. Futures for the Nasdaq 100 index dropped 92 points to 4,179.75. A Peek Into Global Markets European markets were lower today, with the Spanish Ibex Index falling 1.94 percent, STOXX Europe 600 Index falling 2.12 percent and German DAX 30 index dropping 2.33 percent. French CAC 40 Index slipped 1.92 percent and London's FTSE 100 Index declined 2.11 percent. In Asian markets, Japan's Nikkei Stock Average fell 3.84 percent, Hong Kong's Hang Seng Index dropped 2.24 percent, China's Shanghai Composite Index slipped 1.23 percent and India's BSE Sensex declined 2.23 percent. Broker Recommendation Analysts at Deutsche Bank upgraded Delta Air Lines, Inc. DAL from Hold to Buy and maintained the price target of $50.00. Delta Air Lines shares declined 1.19 percent to $43.25 in after-hours trading. Breaking news

• Kratos Defense & Security Solutions, Inc KTOS announced today that its Technology & Training Solutions Division (KTTS) has recently received a $50 million, five-year, sole source single award contract from an international customer, with initial immediate funding of approximately $20 million. To read the full news, click here.
• Science Applications International Corp SAIC reported better-than-expected earnings for its fiscal second quarter. To read the full news, click here.
• Global safety equipment manufacturer MSA Safety Inc MSA today announced the terms of a proposed cash acquisition of United Kingdom-based LATCHWAYS PLC PAR OR LCWYF, a provider of innovative fall protection systems and solutions, for £11 per share. To read the full news, click here.
• Valeant Pharmaceuticals Intl Inc VRX today announced that its affiliate has entered into a collaboration agreement with AstraZeneca plc (ADR) AZN under which Valeant was granted an exclusive license to develop and commercialize brodalumab. To read the full news, click here.