Palantir Technologies Secures $823M Army Intelligence Program Contract
The Dow Jones Industrial Average futures were down 350 points, or 1.02%, while the S&P 500 futures and Nasdaq 100 futures were down 1.21% and 1.4%, respectively.
Private sector hiring is expected to increase in September, with analysts surveyed by Refinitiv expected to add 425,000 workers, the ADP employment report said. The report is due out at 8:15 a.m. ET.
Among stocks, Mega Cap Technology names were once again under pressure, a day after rebounding from Monday’s sharp selloff. It comes as social media giant Facebook Inc remained in focus a day after a whistleblower testified about the harmful effects of its platform.
Elsewhere, Palantir Technologies Inc. Wins $823 million US Army Intelligence Program contract
Nvidia Corp has made undisclosed concessions to EU regulators to investigate a $54 billion deal to buy British chipmaker Arm Ltd.
Constellation Brands Inc. It plans to report before the opening bell, while Levi Strauss & Co. will release its quarterly results after the market closes.
In commodities, West Texas Intermediate crude fell 43 cents to $78.50 a barrel, while gold fell $10.10 to $1,750.80 an ounce.
Foreign markets were weak across the board.
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In Europe, Germany’s DAX 30 fell 2.37%, while France’s CAC 40 and Britain’s FTSE 100 fell 2.27% and 1.80%, respectively.
Elsewhere, Japan’s Nikkei 225 fell 1.05% and Hong Kong’s Hang Seng index dropped 0.57%. China’s Shanghai Composite remained closed for the holiday.