Is there really a resurgence of the IPO market? That’s what investors hope to find out on Tuesday when the next big public offering in September begins. Instacart has priced it at $30 per share, which would value the grocery delivery company at $9.9 billion on a fully diluted basis.
Separately, the Federal Reserve begins its two-day meeting today. The central bank is expected to hold interest rates steady on Wednesday, but a spike in inflation has investors worried about increases later this year.
US stock futures rose slightly. Marketing automation platform Klaviyo’s initial public offering is also expected to be set on Tuesday.
Oil prices continued to rise. The most traded Brent crude futures contract rose to trade near $95 a barrel.
Benchmark Treasury yields remain near year-to-date highs. The 10-year yield was around 4.32%.
It’s an excellent week for central banks. In addition to the Federal Reserve, decisions are also in the hands of the Bank of England, the Bank of Japan and the central bank of Turkey.