S&P 500, Dow futures rise on rate-pause hopes; chip equipment, auto stocks drag By Reuters

SoftBank 's Arm Holdings gained 6.5% after a stellar Nasdaq debut on Thursday, rekindling hopes of a turnaround in the initial public offering market.

"When a stock goes up 25% in a day, there will naturally be FOMO among investors – fear of missing out. That might explain why its shares look like they will jump again today." Investors are also focused on Neumora Therapeutics' debut later in the day after the SoftBank-backed firm raised $250 mln in its U.S. IPO.

Traders' bets on the Federal Reserve holding rates steady in its Sept. 20 policy meeting remained intact at 97%, while their odds for a pause in November stood at nearly 65%, according to the CME FedWatch Tool.

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