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Traders work on the floor of the New York Stock Exchange (NYSE), May 3, 2023.

Brendan McDermid | Reuters

Stock futures were flat in overnight trading Thursday after markets rallied on the back of the latest IPO debut.

Futures connected to the Dow Jones Industrial Average added 32 points, or 0.09%. S&P 500 futures and Nasdaq-100 futures hovered near the flatline.

Adobe fell 1.6% in extended trading even after posting better-than-expected quarterly results. Lennar edged down 0.6% despite a top-and-bottom line beat. The newly debuted Arm Holdings added nearly 7% in after-hours action.

Stocks are coming off a winning session as Wall Street applauded a possible end to an extended technology IPO drought and assessed a fresh batch of economic data. The Dow jumped 331.58 points, or 0.96%, rising for the first time in three sessions and notching its best daily performance in over a month. The S&P 500 added 0.84%, while the Nasdaq Composite climbed 0.81%.

Arm soared nearly 25% during its market debut Thursday. The stock opened above its $51 per share IPO price and closed at $63.59. Elsewhere, the

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