NASDAQ Financial News

Welcome to the weekend. To start off your day, we’ve curated 10 great reads to enjoy.

Stocks rose on Wall Street after a blizzard of reports suggested the U.S. economy is still humming, though inflation may be too

Stocks are slipping in afternoon trading on Wall Street but not enough to erase the market's gains for the week

Neumora Therapeutics, which is backed by Amgen and Japan's SoftBank, fell in their market debut on Friday, giving the company a market capitalisation of $2.51 billion. The Watertown, Massachusetts-based company's shares debuted at $16.50 per share on Nasdaq, below the offer price of $17 apiece.

Neumora Therapeutics, which is backed by Amgen and Japan's SoftBank, fell in their market debut on Friday, giving the company a market capitalization of $2.51 billion. The Watertown, Massachusetts-based company's shares debuted at $16.50 per share on Nasdaq, below the offer price of $17 apiece. The ongoing surge in listings points to a nascent recovery in the U.S. IPO market amid growing expectations of a pause in interest rate hikes by the Federal Reserve. Neumora, which is developing drugs for brain diseases, raised $250 million by selling 14.7 million shares priced at the mid-point of its previously disclosed range.

SoftBank's Arm Holdings rose in volatile early trading on Friday, extending gains from a stellar Nasdaq debut that valued the British chip designer at $65 billion and lifted hopes of an end to the drought in U.S. listings. The stock gave back most of its premarket gains after closing 25% above its offer price of $51 on Thursday.

By Manya Saini

(Reuters) — Wall Street's main indexes opened lower on Friday as shares of Ford (NYSE:F) and General Motors (NYSE:GM) as well as chip-equipment makers fell, though optimism over a likely pause in U.S. interest-rate hikes supported investor sentiment.

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After Russell 2000 (IWM) pushed down to the 200-day MA in its third test of the moving average since early August, there was an accumulation-worthy counter move higher that returned the index back to its 20-day MA.

Investing.com — Arm (NASDAQ:ARM) shares climb in premarket U.S. trading, putting them on track to extend their strong start after a much-anticipated debut on Thursday, while investors look ahead to another public listing by grocery-delivery service Instacart. Elsewhere, workers at factories owned by three major automakers go on strike, while new data suggests that China's faltering economy may be starting to stabilize.

Investing.com — U.S. stock futures traded in a mixed fashion Friday amid a degree of caution, as a positive week ends with the release of a fresh batch of widely-watched economic data.

Absence really does make the heart grow fonder—sometimes a bit too much. Arm got a roaring welcome back to the public market on Thursday. The British chip designer listed its shares on the Nasdaq almost seven years to the day after its acquisition by Japanese conglomerate SoftBank was completed.

chip designer Arm Holdings rose almost 25% in their stock market debut, in the largest initial public offering of shares in nearly two years. The shares opened at $56.10 on the Nasdaq Thursday after having been priced at $51. They closed at $63.59, giving Arm a market value of $68 billion. Most consumers use at least one product that contains Arm's chips, though many people may not be familiar with the company itself.

Arm Holdings may have to wait at least a day before the stock becomes available for shorting, analysts said. Shares in SoftBank's Arm Holdings opened 18% above their offer price in their Nasdaq debut on Thursday, valuing the British chip designer at nearly $60 billion in its return to the public markets after seven years. Short sellers who aim to sell borrowed shares to buy them back at a profit, however, may have to bide their time since the newly-minted shares might not be available to borrow for shorting just yet. Investors can begin selling the shares short as soon as their broker has reasonable grounds to believe that the security can be borrowed — in market parlance, be able to «locate» the shares, said Ihor Dusaniwsky, managing director of predictive analytics at S3 Partners. Prime brokers or brokers usually will at least wait until a day after the IPO to give a 'locate' on the shares, to get an idea on how much stock lands in lendable or marginable accounts, Dusaniwsky said. Investors looking to trade in ARM options, another avenue to place bets on the future price of the shares, may have to wait till next week as certain regulatory requirements on trading thresholds have to be met before options exchanges can list contracts on the newly-listed shares. «I have every reason to believe that when ARM options are listed they will be very popular,» said Steve Sosnick, chief strategist at Interactive Brokers. Arm shares were last up 15.80% at $59.06.

data eased worries about a recession without raising fears of a Federal Reserve rate hike next week, while Arm Holdings soared in its stock market debut. SoftBank's Arm was valued at nearly $60 billion in a strong Nasdaq debut, with the chip designer's shares soaring nearly 25% in their first day of trading. Retail sales rose more than expected in August on higher gasoline prices, while initial claims for state unemployment benefits climbed to a seasonally adjusted 220,000 for the week ended Sept. 9 from 217,000 the week before. Monthly producer prices for final demand rose 0.7% last month, against expectations of a 0.4% increase.

Indian stock market is expected to open higher Friday led by positive global cues amid improved domestic investor sentiment. Asian markets traded higher, while the US stock market ended with gains overnight amid easing fears of recession in the world’s largest economy. On Thursday, the domestic benchmark equity indices ended at record high level with the Nifty closing above 20,100-mark.

«Overall, we expect the market to maintain its positive trend on the back of strong domestic macroeconomic data. However, bouts of volatility cannot be ruled out given mixed global cues,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a positive startGIFT Nifty on the NSE IX traded 12 points, or 0.06 per cent, at 20,229.50, signaling that Dalal Street was headed for positive start on Friday.

Bloomberg Intelligence. Each day, QQQY plans to sell at- or slightly in-the-money puts tied to the Nasdaq 100 with an expiration of 24 hours. From the fund’s point of view, these amount to bullish bets on the index.

When shares of Arm, the British chip designer, began trading on the Nasdaq stock exchange Thursday in the year's biggest initial public offering, investors, tech executives, bankers and startup founders were watching closely for how it performed.

Arm saw its share price jump 20 percent on the first day of trading on the Nasdaq stock exchange in New York on Thursday. Arm, whose semiconductor design is used in most smartphones worldwide, announced earlier this week that it was targeting a valuation of more than $52 billion for its initial public offering (IPO). Its shares opened up 10 percent and continued climbing in early trading, at one point rising 20 percent before settling up closer to 17 percent. Arm's high share price in early trading underscored enthusiasm for tech firms amid elevated interest in artificial intelligence. If Arm's shares close anywhere near its current share price at the end of the first day of trading, it will be valued at closer to $60 billion. The company, which is a world leader in smartphone chip design, is owned by the Japanese tech investor SoftBank, which has had a mixed record of success with its investments in recent years. The IPO of around 10 percent of the company's shares is expected to raise around $5 billion for SoftBank, which will retain ownership of the remaining 90 percent of the company's shares. «I want to keep as much as possible as long as possible,» SoftBank chief executive Masayoshi Son told CNBC on Thursday. «I'm a long term believer,» he added. Traders are looking at Arm's IPO as a barometer for other tech IPOs, which have stalled in recent years as the Covid-19 pandemic, the war in Ukraine and higher interest rates lowered the appetite for riskier investments. If Arm's IPO does well, other companies may consider going public to raise funds, fueling fresh deal-making in the months ahead.