Equity markets ended Thursday lower as geopolitical tensions and the Jackson Hole economic symposium garnered the attention of market participants. All three major US indices were down by more than 0.50%, with the Nasdaq shedding the most at 0.64%. After the bell, Peloton (PTON) reported disappointing earnings, missing EPS estimates but beating revenue estimates. Shares fell by as much as 15% after the closing bell as markets digested lower guidance and a cut in bike prices from Peloton. Shares tumbled below $100 but recovered slightly to the $105 area.

PELOTON 5 MINUTE CHART

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Dell Technologies (DELL) also reported after the bell, posting strong results for the second quarter. The computer giant beat both revenue and earnings estimates, but shares moved lower in after-hours trade by as much as 3%. Dell technologies benefitted tremendously from the “work from home” trade and may stand to continue to benefit from much of corporate America delaying its return to the office. The adaptation of hybrid work models has fueled strong demand for Dell laptops, tablets, and cloud services. Revenues for the quarter jumped by 15% to $26.12 billion.

DELL TECHNOLOGIES 5 MINUTE CHART

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Broader equity markets ended Thursday in the red as market participants cast an eye to Friday’s packed slate of events. Most notably, Federal Reserve Chair Jerome Powell will be speaking at the virtual Jackson Hole economic symposium, with many looking to his words for any clues or updates regarding tapering. Apart from Powell’s speech, key economic data is set to cross the wires before the Fed Chair takes centerstage. PCE data and a final reading on consumer sentiment for August represent significant risk events for broader markets.