Maplebear Inc, parent of Instacart, secured a fully diluted valuation of $9.9 billion after its IPO was priced at $30 per share, the top of its indicated price range. Arm Holdings last week had a stellar market debut, raising hopes of a bounce back in the initial public offering (IPO) market.
- U.S. stock index futures inched higher on Tuesday ahead of a two-day Federal Reserve monetary policy meeting and as investors awaited grocery delivery app Instacart's Nasdaq debut to assess a potential recovery in the IPO market.
Investors are also focused on the Fed meeting later in the day, where it is widely expected the central bank will hold benchmark interest rate at the current 5.25%-5.50% range. "Central banks should pause here and wait and see the impact of what they have already done rather than risk serious damage to the economy."
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