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US stock market report – Peloton shares soar on takeover rumours

Picture of Drew Meredith, CFP
Drew Meredith, CFP
Picture of Drew Meredith, CFP

Drew Meredith, CFP

Drew Meredith is one of the founders of Wattle Partners. He is an experienced financial and investment adviser with expertise in self-managed superannuation funds, superannuation strategies, investment analysis and portfolio construction. Drew is a Partner at Wattle Partners.
More analysis

US stock markets have moved back into a narrow range trading band, with all three benchmarks falling on Monday on the back of a good day for semiconductor and energy stocks.

The Dow Jones naturally outperformed, finishing flat with the S&P 500 and Nasdaq down 0.4% and 0.6%, respectively.

Peloton shares surge

Embattled exercise equipment distributor Peloton (NASDAQ: PTON) gained more than 20% after announcing it was considering takeover offers in light of the significant fall in the price of shares. Amazon (NASDAQ: AMZN) is a rumoured buyer.

Airlines to combine

Low-cost airlines Frontier (NASDAQ: ULCC) and Spirit (NYSE: SAVE) gained 3% and 17%, respectively, after agreeing on a US$6 billion merger proposal ahead of a takeover in consumer travel.

The week ahead

Earnings season steps up another gear this week with Walt Disney (NYSE: DIS) and Pfizer (NYSE: PFE) ahead whilst more inflation data is due Friday following last week’s strong jobs report.

In other news, the ECB has joined the central bank party announcing they would consider a rate hike as the end of 2022 near.

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is set to head lower when the market opens this morning. For a round-up of the latest news, check out my ASX 200 morning report.

The Golden Rules of Investing

We might be experts in retirement, but with combined financial advice experience of 35+ years, we’ve nearly seen it all. 

In mid-2023, our senior team at Wattle Partners Financial Planning put the finishing touches on a brand-new report “The Golden Rules of Investing“.

In this free report, we outline the key principles that determine all of the portfolio construction and investment decisions of Wattle Partners. Collated over decades, this paper should be seen as a work-in-progress, constantly under review in light of the ever-evolving nature of markets. 

You’ll find the free report on my Author page. Simply click the button below to view the Golden Rules.

Get the golden rules

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Disclosure: At the time of publishing, Drew owns shares in Disney.

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Wattle Partners is a financial advice firm, servicing clients around Australia, specialising in retirement planning (pre and post retirement). 

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