Dow futures higher; Arm Holdings, Michigan consumer sentiment in focus
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.
By 06:30 ET (10:30 GMT), the Dow Futures contract was up 100 points, or 0.3%, and S&P 500 Futures traded 6 points, or 0.1%, higher, while Nasdaq 100 Futures dropped 12 points, or 0.1%.
The three major Wall Street indices posted strong gains on Thursday, helped by the positive reaction to the debut of chip designer Arm (NASDAQ:ARM) after its listing.
The blue-chip Dow Jones Industrial Average ended up over 330 points, or 1%, while the broad-based S&P 500 and the tech-heavy Nasdaq Composite gained 0.8%.
These gains mean the indices are heading for a winning week, with the DJIA on pace for gains of around 1%, the S&P 500 around 1.1% and the Nasdaq 1.2%.
Arm Holdings stock soared almost 25% above its Nasdaq debut price on Thursday, and have continued to firm in premarket trading Friday.
This bodes well for other deals already in the pipeline, including the debut of delivery platform Instacart as early as this month.
About 150 companies are waiting to go public on the Nasdaq, a 40% increase from the same time last year, Reuters reported Friday, citing sources.
Economic data released during the last session, including the retail sales report, showed a resilient consumer heading into the holiday shopping season.
Friday is another packed day for economic data, as investors turn their attention to next week's Federal Reserve policy-setting meeting, looking for clues to help clarify the policy path ahead for both Fed officials and markets alike.
The highlight will be a preliminary September consumer sentiment reading from the University of
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