Arm set to extend gains, Chinese data lifts sentiment - what's moving markets
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.
1. Futures mixed after Arm IPO drives positive session
U.S. stock futures were mixed on Friday after shares in chip designer Arm rallied in their debut trading day, fueling hopes for a revival in technology company listings.
At 05:47 ET (09:47 GMT), the Dow futures contract added 84 points or 0.2%, S&P 500 futures rose by 4 points or 0.1%, and Nasdaq 100 futures slipped by 15 points or 0.1%.
All three of the major indices posted positive sessions on Thursday, with equities bolstered by SoftBank-backed Arm's successful initial public offering (IPO). Economic data on Thursday also showed that so-called «core» producer price growth, stripping out volatile items like food and fuel, slowed in August — although the headline measure of prices received by businesses for their goods and services accelerated by more than anticipated during the month.
The data reenforced bets that the Federal Reserve, which has declared a dependence to data in future policy decisions, will keep interest rates unchanged at its upcoming meeting this month. Fresh economic figures due out later today, including preliminary September consumer sentiment figures, could help clarify the policy path ahead for both Fed officials and markets alike.
2. Arm debut sparks hopes of tech IPO revival
Shares in Arm were higher by more than 6% in
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