After markets gained on the back of the most recent IPO debut, stock futures edged up on Friday.
The Dow Jones Industrial Average futures rose 62 points, or 0.17%. The Nasdaq-100 futures and S&P 500 futures both saw gains of 0.12% and 0.07%, respectively.
Despite reporting better-than-expected quarterly profits, Adobe slumped 1.6% in extended trading. In spite of better-than-expected top and bottom lines, Lennar fell 0.6%. In after-hours trading, the newly launched Arm Holdings increased by nearly 7%.
Stocks are coming off a profitable session as Wall Street cheered a potential end to a protracted lack of technology IPOs and evaluated a new set of economic data. The Dow increased 331.58 points, or 0.96%, recording its greatest daily performance in over a month and increasing for the first time in three sessions. The Nasdaq Composite rose 0.81% while the S&P 500 gained 0.84%.
During its market debut on Thursday, Arm increased by almost 25%. The stock closed at $63.59 after opening above its $51 IPO price per share. In other news, the headline producer price index increased by 0.7% in August, beating economists’ estimates of 0.4% growth, according to Dow Jones. The core PPI, however, increased by 0.2% as anticipated.
Source (CNBC)
