U.S. stock futures slipped lower after the Labor Day long weekend as more gloomy economic data out of China weighed on global sentiment, with rising bond yields adding to headwinds for equities.Tesla was rising 0.1% in the premarket at $242.69 after German car maker Mercedes-Benz , introduced a new electric-sedan concept vehicle, at a German motor show, with superior range.
Mercedes’ electric-sedan concept will have a 466 miles range, based on global industry standards which is more than Tesla’s Model 3 sedan that has a range of 391 miles for its long range version, on the same basis. Chip maker Nvidia was trading down 0.9% to $481 following a strong week in which it climbed 5.4% to 485.09 and reached a record closing high of $493.55 Thursday. CEO Jensen Huang met with India’s Prime Minister Narendra Modi Monday ahead of the Group of 20 summit between international leaders to be held in Delhi on Sept. 9-10. The pair talked about advances in Artificial Intelligence, according to a tweet by Modi on the X social media platform, which was formerly Twitter.
Fidelity National Financial shares increased 3.9% to $43.60 in the premarket. Late Friday a 13F filing showed that Citi had increased its stake by 23.2% in the first quarter of the year.Keysight Technologies gained 1.5% in premarket trading after the test equipment manufacturer was upgraded to Buy from Neutral at Goldman Sachs.
American Express jumped 0.5% after the card issuer was upgraded to Outperform from Sector Perform at RBC Capital.Write to Rupert Steiner at rupert.steiner@barrons.com
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