Dow futures higher; Arm Holdings, Michigan consumer sentiment in focus By

-- U.S. stock futures traded in a mixed fashion Friday amid a degree of caution,icmarkets customer area login 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 contract was up 100 points, or 0.3%, and traded 6 points, or 0.1%, higher, while 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 (NASDAQ:) after its listing.

The blue-chip ended up over 330 points, or 1%, while the broad-based and the tech-heavy 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’s success could prompt more listings

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.

Consumer sentiment on data slate

Economic data released during the last session, including the 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 . and prices for August are also due, along with and production data, also for August.

Sentiment was boosted earlier Friday after Chinese increased by more than expected in August, and there was also a pick-up in .

Auto workers go on strike

Members of the United Auto Workers have gone on strike at three major assembly plants for the first time ever after failed talks between the union and the so-called "Big Three" major carmakers on a new labor contract.

The walkouts hit factories in Michigan, Ohio and Missouri owned by General Motors (NYSE:), Ford Motor (NYSE:) and Jeep-maker Stellantis (NYSE:).

In terms of quarterly earnings, software maker Adobe (NASDAQ:) beat revenue estimates for the third quarter after the close Thursday, while homebuilder (NYSE:) reported third-quarter profit above expectations.

Crude set for strong weekly gains

Oil prices rose Friday, climbing to their highest level since early November last year, on the back of more stimulus measures as well as the better-than-expected economic data from major importer China.

By 06:30 ET, the futures traded 0.4% higher at $90.48 a barrel, while the contract climbed 0.3% to $93.94. 

Both benchmarks were up around 4% from a week ago, on course for a third weekly gain.

Additionally, rose 0.3% to $1,939.25/oz, while traded 0.2% higher at 1.0663.

(Oliver Gray contributed to this item.)

 

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