Stock market news: Opening bell, October 3, 2017

U.S.
President Donald Trump rallies with supporters during a Make
America Great Again rally in Southaven,
Mississippi.
Reuters/Jonathan
Ernst

Here is what you need to know. 

A $150 billion investment chief explains how he knows when a
recession is coming. Brad McMillan, the chief
investment officer of the $150 billion Commonwealth Financial
Network, shares the four-part checklist of indicators he
watches closely for signs of an economic reckoning. 

Tesla Model 3 deliveries top Wall Street
expectations. The electric-car
maker delivered 55,840 Model 3 sedans in the third quarter,
topping its guidance of 52,425 and Wall Street’s expected 55,600.

Aston Martin drops below its IPO price. The
luxury car maker, famous for making James Bond’s cars, priced
Wednesday’s initial public offering on the London Stock Exchange
at 19 British pounds before touching a low of 17.75 pounds during
its first day of trading.

Blue Apron tumbles to a record low. Shares hit
$1.44 on Tuesday — after the meal-kit maker said it was
launching a pilot program for on-demand delivery in New York
City on the Grubhub and Seamless online and mobile platforms.

China’s biggest streaming-music service files for a US
IPO. Tencent Music, the streaming-music service
backed by tech giant Tencent, could fetch a valuation of more
than $25 billion — making it one of the biggest tech IPOs ever —
the Wall Street Journal says. 

Trump drops 138 spots on Forbes’ wealthiest Americans
list. President Donald Trump was the 248th
richest American at the end of 2017, with a net worth of $3.1
billion, according to Forbes’ list of the 400 wealthiest people
in America. 

Manhattan home sales plunge as sellers refuse to get ‘realistic’
about what buyers can afford. The number of
sales fell for a fourth straight quarter, by 11%, during the
July-September period on a year-over-year basis, as the lower end
of the market started showing signs of softening, according to a
report released Tuesday by Douglas Elliman Real Estate. 

Stock markets
around the world are mixed. Japan’s Nikkei
(-0.66%) lagged in Asia and Britain’s FTSE (+0.17%) leads in
Europe. The S&P 500 is set to open little changed near 2,923.

Earnings reports trickle out. The homebuilder
Lennar reports ahead of the opening bell. 

US economic keeps coming. ADP Employment Change
will be released at 8:15 a.m. ET before Markit services PMI and
ISM non-manufacturing cross the wires at 9:45 a.m. ET and 10 a.m.
ET respectively. The US 10-year yield is up 1 basis point at
3.07%.