US Markets Take a Breather as Futures Edge Slightly Lower

US markets take a breather as futures edge slightly lower.  In economic data, the ADP employment report for September showed that private sector jobs grew by 135K.  August was revised lower by 7K to 228K.  The Mortgage Bankers Association reported that mortgage applications dropped 0.4% last week.  The markets will closely follow remarks by Fed Speaker Janet Yellen as she is due to deliver the opening remarks at a conference in St. Louis later today.  European shares are mostly lower, led by retailers, since euro zone sales data was weak.  Asian shares closed mostly higher, while markets in China and South Korea remained closed for holidays.

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