Dow Jones futures up 149pts, Peloton share price to be watched on Friday

Futures markets suggests the Dow Jones Industrial Average will open higher on Friday, while Peloton is likely to be closely watched by investors after surging in after-hours trade following the release of its FY20 results.

Dow Jones futures in focus

US markets continued to sell-off overnight – with the Dow Jones Industrial Average, S&P 500 and Nasdaq 100 all finishing out the session lower.

As has been the case over the last week or so, the tech-heavy Nasdaq proved to be the worst performing benchmark overnight, falling 1.99% or 221 points, to finish out the session below the key 11,000 point level.

The Dow Jones also posted losses, dipping 1.45% during Thursday’s session. Tellingly, fast food stalwart McDonald's was the only Dow constituent to trade positively on Thursday, while Apple, Microsoft, and UnitedHealth witnessed the most pronounced share price declines.

Commenting on these market moves, IG Market Analyst Kyle Rodda said:

‘Although there remains a predominant risk-aversion in the market at the moment, the correction still appears a function of price-discovery and rebalancing, rather than anything that warns of a nascent trend reversal.’

Positively at least – for those with bullish inclinations – Mr Rodda added that there:

‘Were tentative signs last night that US indices were searching for a bottom. The jury remains out, but the major US indices sold-off on much thinner volumes, and avoided recording a new “lower-low”, at least for now.’

At the time of writing Dow Jones futures traded up some 149 points or 0.54% (11:49 New York time), suggesting that the key US benchmark would open higher on Friday, 11 September.

Nasdaq and S&P 500 futures were also trading in the green at the time of writing.

Peloton share price to be closely watched following FY20 release

On a more granular level, connected fitness company Peloton (PTON) is likely to be closely watched by investors on Friday, after releasing a strong set of fourth quarter and full-year (FY20) results to the market.

Overall, Peloton posted an impressive set of operational figures for fiscal 2020, reporting:

  • Total FY20 revenue growth of 100%, at $1.8 billion;
  • Connected Fitness subscriptions more than doubled, hitting ~1.09 million; while paid Digital subscriptions more than tripled, rising to ~316,800;
  • Q4 net income came in at $89.1 million; and
  • Peloton recorded 76,817 workouts in Q4, a record for the company.

Commenting on these results, Peloton’s Founder and Chief Executive John Foley said:

‘2020 was a transformative year for Peloton. We made great progress in scaling our business, from manufacturing and logistics, to member support and field operations. We launched operations in Germany, our first foreign language market, and continued to grow our footprint in the United States, Canada, and the United Kingdom.’

Investors appeared to agree with such a characterisation – with the stock being bid 9.69% higher in after-hours trade, to a 52-week high of $96.25 per share.

YTD Peloton is up 195%.

Trade after-market moves with IG

Trading pre- and post-market enables you to take a position on key US shares – like Tesla, Apple, Amazon and Netflix – outside normal trading hours.

To start taking advantage of pre- and post-market trading, create an IG Trading Account.

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

Please see important Research Disclaimer.

Seize a share opportunity today

Go long or short on thousands of international stocks.

  • Increase your market exposure with leverage
  • Get spreads from just 0.1% on major global shares
  • Trade CFDs straight into order books with direct market access

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.


Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Monday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.