Global risk-asset prices declined on Wednesday, as market participants across the world continued to react to yesterday’s disappointing economic data published by the world’s leading economy.

The US Institute for Supply Management's manufacturing index fell to its lowest level since the last recession in September, with US export orders lower, amid the protracted trade dispute and employment contracting as plants and facilities idled while investment stalled.

The data, which sparked concerns over a global recession, followed the weakest reading for European manufacturing in seven years and ongoing signals of a sharp slowdown in both China and Japan.

Tuesday's session saw the S&P 500 index fall -1.19% lower, to an almost one-month low. All sectors ended in negative territory. 

Ahead, attention will now turn to the US labor market, with the ADP employment report for September scheduled for release at 8:15am EST, followed by Crude Oil Inventories at 10:30am EST.

In earnings; Bed Bath & Beyond (BBBY), Lennar (LEN), Paychex (PAYX), Acuity Brands (AYI) and Lamb Weston Holdings (LW) are all expected to report today.

Brexit: Boris Johnson Issues Ultimatum as EU Balks at His Brexit Plan. (Bloomberg)
Boris Johnson is poised to issue an ultimatum to the European Union on Wednesday: negotiate Brexit on his terms within the next nine days, or face a no-deal divorce. 

Today's Economical Announcements.

08:15AM - ★★★ - ADP Nonfarm Employ. (Sep) (Previous: 195K)
10:30AM - ★★★ - Crude Oil Inventories (Previous: 2.412M)

Pre-Market Movers & News Related Stocks.

Stitch Fix (SFIX): [EARNINGS] Reported quarterly earnings of 7 cents per share, 3 cents a share above estimates. Revenue matched forecasts, however the online clothing style service gave a lower-than-expected current-quarter forecast. 

Lennar (LEN): [EARNINGS] Reported profit of $1.59 per share for its third quarter, beating the consensus estimate of $1.32 a share. Revenue also exceeded Wall Street forecasts. The volume of new orders rose 9% from a year earlier, although the dollar value of those new orders was up just 3%.

Monster Beverage (MNST): [DOWNGRADE] Guggenheim Securities downgraded the beverage maker’s stock to “neutral” from “buy,” predicting the stock will be range-bound for the next 6 to 9 months.

Activision Blizzard (ATVI): [DOWNGRADE] Downgraded to “underperform” from “market perform,” saying it cannot reconcile the current stock price with company fundamentals after a 25% rally since late May.

TD Ameritrade (AMTD): [NEWS] Said its online brokerage operation will eliminate commissions for stocks and exchange-traded funds, effective Thursday. 

Twitter (TWTR): [NEWS] Twitter’s website and TweetDeck dashboard management platform are back up and running, following a worldwide outage that affected thousands of users. 

Johnson & Johnson (JNJ): [NEWS] Settled lawsuits by two Ohio counties for $20.4 million, with those settlements allowing the health-care company to avoid an upcoming federal trial on responsibility for the nation’s opioid epidemic.

Facebook (FB): [NEWS] Facebook is seeing partners in its planned Libra payment network reconsider their involvement, according to The Wall Street Journal. Visa (V) and MasterCard (MA) are among the companies said to be rethinking their commitment.

Tesla (TSLA): [NEWS] Is on schedule to start production in China this month, according to a Reuters report, but sources with knowledge of the matter say year-end production targets remain in doubt. Tesla is planning to make at least 1,000 new Model 3 vehicles per week from the new factory by year-end.

Live Nation (LYV): [RATING] Jefferies rates the live entertainment promoter’s stock as a “buy” in new coverage, citing prospects for strong growth and execution, as well as support from new acquisitions.