Tesla, Nio and Unity Software rise premarket; Boeing, US Steel fall

Investing.com -- U.S. stock futures fell Tuesday, starting the new holiday-shortened week on a cautious note ahead of the release of key labor market data.

Here are some of the biggest premarket U.S. stock movers today Tesla (NASDAQ:TSLA ) stock rose 0.7% with the electric vehicle manufacturer logging its best month in China for the year so far in August, benefiting from brisk sales in smaller cities. Nio (NYSE:NIO ) stock rose 0.5% after the Chinese electric-vehicle maker delivered over 20,000 vehicles in August, up about 4% from last year. United States Steel (NYSE:X ) stock fell 5.9% after U.S. Democratic presidential hopeful Kamala Harris signalled that she would block a proposed $14.9 billion takeover of the steel company by Japan's Nippon Steel. Boeing (NYSE:BA ) stock fell 3.5% after brokerage Wells Fargo downgraded the planemaker to ‘underweight’ from ‘equal weight’, saying an equity raise will likely further dilute shares. Unity Software (NYSE:U ) stock rose 5.5% after Morgan Stanley upgraded its stance on the software development company to ‘overweight’ from ‘equal weight’, following a period of underperformance, with the company’s stock lagging behind the S&P 500 by approximately 80% over the past year. Intel (NASDAQ:INTC ) stock fell 1.2% with Reuters reporting that CEO Pat Gelsinger is set to present a strategic overhaul to its board of directors later this month, aimed at streamlining its operations and cutting costs. Autodesk (NASDAQ:ADSK ) stock rose 0.2% after the software group’s second-quarter results were mostly well above consensus, with its recent outlook upgrade pointing to "momentum" in the business.

Source: Investing.com