September is off to a rocky start for risk asset prices after investors had adopted a cautious stance in overnight trading, amid ongoing tensions between the US and China, as well as mounting political risks overseas in Europe.

Today’s pre-market decline comes one day after Beijing had lodged a complaint with the World Trade Organization against Washington over its recent tariff escalation, saying the move violated the consensus reached by President Donald Trump and President Xi Jinping at the G20 Summit.

Traders look to remain sensitive to the twists and turns of these trade disputes, with mistrust on both sides, as officials from the world's two largest economies struggle to agree on basic re-engagement terms. 

Meanwhile, the British pound hit its lowest level in 34 years against the dollar, after Prime Minister Boris Johnson warned lawmakers not to thwart his plans to leave the EU on October 31, or face expulsion from his party and a national election later next month.

The threat comes as rival lawmakers plan to debate legislation that would block a so-called "no deal" Brexit.

Today's developments come after Friday’s session, where US stocks closed flat, however sealed their first weekly gain in five weeks as investors remained hopeful for a resolution to Washington’s trade war with Beijing. 

The S&P 500 finished -0.04% lower, having pared early gains, while up +2.67% for the week. Meanwhile, the Nasdaq Composite and Dow Jones ended -0.24% lower and +0.09% higher respectively.

Ahead, Hurricane Dorian was downgraded to a Category 3 storm by the National Hurricane Center last night as it continues to inch along towards Florida's Atlantic coast carrying wind speeds of up to 130 miles per hour.

In today’s economic calendar, Tuesday Includes; Construction Spending for July and Manufacturing PMI data for the month of August at 10am EST.

Brexit: Rebel UK Lawmakers Plot to Block Boris Johnson’s No-Deal Brexit. (The WSJ)
British lawmakers are expected to vote Tuesday on whether to begin steps aimed at preventing Prime Minister Boris Johnson from leaving the European Union on Oct. 31 without an agreement to smooth the way, a process that if successful could lead to a snap election next month.

Natural Disasters: US East Coast Braces for Hurricane Dorian Chaos as Bahamas Are Battered. (Bloomberg)
The US East Coast from Florida to the Carolinas are bracing for devastating winds and a life-threatening storm surge from Hurricane Dorian as the Category 3 storm wreaks havoc on the Bahamas.

Today's Economical Announcements.

10:00AM - ★☆☆ - Construction Spending (Jul) (Previous: -1.3%)
10:00AM - ★★★ ISM Manufacturing PMI (Aug) (Previous: 51.2)

Pre-Market Movers & News Related Stocks.

Conn’s (CONN): [EARNINGS] Reported quarterly profit of 62 cents per share, 11 cents a share above estimates. Revenue also beat Wall Street forecasts, boosted by new stores, which more than made up for a 2.3% decline in same-store sales.

Boston Beer (SAM): [DOWNGRADE] Downgraded to “underperform” from “hold” at Jefferies, which points to increased competition in the alcoholic seltzer drink category. Jefferies also cut its price target on the stock to $332 per share from $360.

Boeing (BA): [NEWS] Faces new delays in returning the 737 Max to service, according to The Wall Street Journal. International regulators are said to be upset over what they perceive as a lack of information from Boeing on its proposed software fixes for the grounded jet.

Snap (SNAP): [UPGRADE] Upgraded to “outperform” from “in-line” at Evercore, which is citing Snap’s move into gaming.

Twitter (TWTR): [NEWS] Said the personal account of CEO Jack Dorsey is now secure after being hacked on Friday. The hacker used Dorsey’s account to send out tweets that contained racist messages.

Western Digital (WDC): [UPGRADE] Upgraded to “in-line” from “underperform at Evercore, which is optimistic about NAND flash memory pricing.

Spark Therapeutics (ONCE): [NEWS] Spark and Switzerland’s Roche announced another extension of Roche’s $4.3 billion takeover bid for the US-based gene therapy company. The extension to October 1 was given to provide more time for regulatory reviews.

Las Vegas Sands (LVS), Wynn Resorts (WYNN): [NEWS] Casino operators who operate in Macau may be negatively impacted by news of a bigger than expected 8.6% August decline in gaming revenue compared to a year earlier.

Royal Caribbean (RCL), Norwegian Cruise Line (NCLH), Carnival (CCL): [NEWS] Cruise lines could see an estimated impact of 5 cents per share from Hurricane Dorian for the current quarter, according to an analyst report from Nomura Instinet. (AMZN): [REVIEW] The stock’s price target was raised to $2,600 per share from $2,250 by RBC Capital Markets, which also reiterated its “outperform” rating on the stock. The move reflects the expected positive impact of Amazon’s new “Prime One-Day Shipping” initiative.

Nexstar Media (NXST): [NEWS] Federal Communications Commission Chairman Ajit Pai is seeking approval from his fellow commissioners for Nexstar’s proposed $6.4 million acquisition of rival TV station operator Tribune Media. The deal has already gained conditional Justice Department approval, with the companies required to divest TV stations in 13 markets to address antitrust concerns.