* Purchasing Managers Index report due at 10:00 a.m. ET
* Cabela's soars after agreeing to be bought for $5.5 bln
* Tesla rises as 3rd-qtr car deliveries jump 70 pct
* Futures: Dow up 3 pts, S&P down 3.25 pts, Nasdaq down 5.5
(Adds details, comments, updates prices)
By Yashaswini Swamynathan
Oct 3 Wall Street was set to start the fourth
quarter on a subdued note as oil prices pared gains, while
investors looked forward to economic data that could provide
further clues on the health of the economy.
The Purchasing Managers' Index (PMI) from the Institute of
Supply Management is expected to show that factory activity
expanded in September after having contracted in August.
Oil prices were trading above $50, but came off session
highs as investors assessed the impact of an OPEC deal to curb
Investors are also on the lookout for news from Deutsche
Bank, which is working to reach a settlement with U.S.
authorities who have demanded a fine of up to $14 billion from
the bank for mis-selling mortgage-backed securities.
While the bank's Frankfurt-listed stock was not
trading due to a public holiday, its U.S.-listed shares
were down 0.92 percent at $12.98 in premarket trading on Monday.
Wall Street rallied on Friday as a surge in Deutsche Bank
lifted financial stocks after French news agency AFP reported
that the bank was nearing a $5.4 billion settlement agreement
with U.S. officials.
The travails of Germany's biggest lender has unsettled
investors who are now awaiting third-quarter corporate earnings
and the upcoming U.S. presidential election.
"It looks like a quiet start to the day and that's not
surprising," said Art Hogan, chief market strategist at
Wunderlich Equity Capital Markets in New York.
"It's a back-end loaded week with jobs numbers on Friday,
but if we get a positive read on ISM manufacturing, we could say
that August was a blip and that will be constructive for the
A report on monthly hiring activity on Friday will be
assessed by investors as it will play a big role in the Federal
Reserve's decision on raising interest rates this year.
Dow e-minis were up 3 points, or 0.02 percent at
8:28 a.m. ET, with 12,911 contracts changing hands.
S&P 500 e-minis were down 3.25 points, or 0.15
percent, with 96,772 contracts traded.
Nasdaq 100 e-minis were down 5.5 points, or 0.11
percent, on volume of 13,657 contracts.
Automakers would be in focus on Monday as they report
monthly sales numbers. Analysts predict U.S. auto sales to have
edged up to 17.30 million in September from 16.98 million in
Tesla shares rose 3.7 percent to $211.60 after the
electric carmaker said third-quarter deliveries rose by 70
percent to 24,500 cars.
Ebay fell 2.74 percent after Facebook
launched a rival platform where users can buy and sell items.
Facebook's shares were little changed.
Cabela's surged 16.3 percent to $63.90 after the
company said it would be acquired by Bass Pro Shops in a deal
valued at about $5.5 billion.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by