Stock futures fall as deal news sets negative tone


Stock futures likely will open on a lower note, as weakness in overseas markets and a mixed reaction to corporate deal news set a negative tone; Dow -0.3%, S&P and Nasdaq -0.2%.

AstraZeneca -11.5% premarket after again rebuffing Pfizer’s “final” offer of £55/share ($89.96), while AT&T -2.6% after agreeing to buy DirecTV in a stock and cash deal worth $67B.

"The falling apart of the AstraZeneca deal could be setting a negative tone on today's trading, because the health care sector has been one of the better performers," S&P Capital IQ's Sam Stovall says.

Asian stocks finished lower on China slowdown fears, with the Shanghai composite at a two-month low; European markets are modestly lower.

Treasurys hold gains to start the day, with the 10-year yield down 2 bps at 2.51%.

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