Stock futures fall as Wall Street prepares to add to September losses: live updates

HSBC has multiple reasons to like it Pinterest.

“We believe it has the right management team, a right product to buy, and a differentiated capital-light strategy to deliver on its foray into social commerce,” analyst Mohammed Khallouf said in a recent note to clients as he initiated coverage. of stocks with a buy rating.

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—Alex Harring

US listed shares of Barclays rose more than 2% premarket after Morgan Stanley said improvements in the U.S. credit card business and increased transaction volume could be good news for the bank.

Analyst Álvaro Serrano upgraded the bank’s shares, which are listed in London, from equal weight to overweight. Meanwhile, the bank’s US-listed shares trade under the symbol BCS.

“We believe consensus understates revenue in CC&P, which, coupled with an improving outlook in IB, leaves us ahead of consensus for the first time,” he said in a note to clients, using the acronym for consumer, cards and payments and investment banking business.

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—Alex Harring

DraftKings was up about 3% before the bell after JPMorgan turned bullish on sports betting stocks.

Analyst Joseph Greff upgraded the stock to overweight from neutral after a recent bout of underperformance. The stock has fallen about 13% since July, while the S&P 500 has lost about 6%.

“We are taking advantage of the slow share price performance since late July,” Greff said in a note to clients on Tuesday.

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—Alex Harring

JPMorgan Chase CEO Jamie Dimon said overnight that the good times for the U.S. economy may not last much longer.

“I’ll just say that right now it feels good that the fiscal stimulus has been extraordinary, that monetarism has been extraordinary, that it’s been a global phenomenon more in the United States than elsewhere. But that’s a bit of a sugar rush,” Dimon told CNBC TV18. In India. “And that bit is going to go away and we hope to have a soft landing, but all these other things are there: Ukraine, oil, gas, winter, disruption of trade flows.”

“So I think good leadership from the United States, India, China and Europe can ensure that the negative doesn’t happen. But I put myself in a pretty cautious category,” Dimon added.

—Fred Imbert

tesla Shares fell more than 1% after a European Union trade official told The Financial Times that the company, along with other carmakers in Europe that export from China, will face an investigation into whether electric vehicle makers They receive unfair subsidies.

“Strictly speaking, it is not limited only to Chinese-branded electric vehicles, but may also affect vehicles from other manufacturers if they receive production subsidies,” said EU Executive Vice President Valdis Dombrovskis. Heist.

—Fred Imbert

European markets opened lower as negative momentum in the region continues.

The pan-European Stoxx 600 index was down 0.5% in early trading, with all sectors in the red. Technology stocks saw the biggest decline, falling 1.2%, while home goods fell 1%.

—Hannah Ward-Glenton

Japanese Prime Minister Fumio Kishida outlined an economic stimulus plan that includes tax breaks for domestic investments and measures to stimulate wage growth, Japanese media reported.

The Japan Times reported Kishida said his government “aims to encourage investment and wage increases through measures such as reducing tax and social security burdens.”

Nikkei reported that Kishida stated the following: the hope is to “realize a virtuous economic cycle of capital investment, wage growth and investment in people.”

The stimulus package is also expected to include tax cuts for income from “key strategic fields,” including semiconductors and batteries.

-Lim Hui Jie

Japan’s services producer price index rose 2.1% year-on-year in August, its fastest rate of increase in a year.

The reading was up from 1.7% in July and the third consecutive month that wholesale inflation in the services sector has accelerated.

In monthly terms, the services PPI rose 0.1%.

-Lim Hui Jie

Recreational vehicle supplier Thor Industries outperformed after Monday’s closing bell.

The company reported adjusted earnings of $1.68 per share on $2.74 billion in revenue, while analysts surveyed by LSEG forecast an adjusted 96 cents and $2.42 billion, respectively. Thor executives issued full-year guidance for revenue in the range of $10.5 billion to $11 billion, Wall Street had expected $10.8 billion.

Shares fell about 1% in after-hours trading.

—Brian Evans

Stock futures opened little changed on Monday, with the S&P 500 and Nasdaq Composite coming off winning sessions for the first time in four days.

Futures linked to Dow Jones Industrial Average added 8 points, or 0.02%. S&P 500 Futures gained 0.05%, while Nasdaq 100 Futures increased by 0.07%.

—Brian Evans