Arm, a prominent chip designer, saw a 7% increase in its share value in off-hours trading following a 25% surge on its first day of trading. This surge continues to bolster prospects for the largest initial public offering of 2023.

China is steadily recovering from an economic slump, with evidence of a surge in factory output and consumer spending in August. The further decrease in unemployment numbers and the Chinese central bank’s decision to reduce a short-term lending rate epitomize these improvements.

Meanwhile, in the United States, stock futures showed initial signs of a likely increase. Contracts on the S&P 500 and the Dow displayed a slight upward trend, while Nasdaq-100 futures remained neutral.

In other international markets, the general trend was upward as well, with notable climbs observed in the Stoxx Europe 600 and Japan’s Nikkei 225, both with about 1% increases. The Hang Seng index in Hong Kong followed the same upward trend.

The oil market also continued its upward trajectory, with the most actively traded contract for Brent crude rising above $94, anticipating the highest close since November. The bond market projected mixed patterns. U.S. 10-year Treasury yields, reflecting a steady note, saw a minor increase from Thursday’s closing yield of 4.289%.

Conversely, European bonds experienced a slump. German and Italian 10-year yields reversed their gain from Thursday following the European Central Bank’s interest rate hike, suggesting a less favorable outlook.

In terms of economic indicators, the consumer sentiment index for the state of Michigan in September is expected to be released at 10 a.m. ET. This index could provide significant insight into consumer confidence and, in turn, suggest potential trends in consumer spending.