Futures climb on Fed pause hopes; investors await Arm debut

(Reuters) – Rising optimism about a pause in interest rate hikes in September lifted U.S. index futures on Thursday, while investors readied for Arm Holdings Plc’s stock market debut following the biggest U.S. IPO since 2021.

Both the Nasdaq and the S&P 500 gained on Wednesday following data that showed the annual rise in core consumer prices, excluding volatile items like food and energy prices, was the smallest in nearly two years.

Rising oil prices, however, could keep inflation at elevated…