Early on Friday, Dow Jones futures took a dip, with S&P 500 futures and Nasdaq futures moving slightly higher, following a significant global IT disruption that affected airlines and other industries. CrowdStrike shares plummeted in premarket trading, while Microsoft and Amazon.com also faced some early pressure.
Other companies such as Netflix, Intuitive Surgical, and American Express were also in focus due to their earnings reports.
The 10-year Treasury yield rose to 4.24% after a slight increase on Thursday. Crude oil prices saw a modest decline, dropping to $82.82 a barrel.
A global IT outage caused by a CrowdStrike update glitch led to disruptions worldwide, affecting airline flights, financial systems, hospitals, and media outlets. The company stated that it was not a security incident or cyberattack and has deployed a fix. Despite the ongoing disruptions, rivals like Palo Alto Networks, Fortinet, and SentinelOne saw gains in premarket trade.
Overall, the stock market saw a decline on Thursday, with the Dow Jones Industrial Average, S&P 500 index, Nasdaq composite, and Russell 2000 all experiencing losses.
In terms of earnings, Netflix surpassed expectations in terms of subscriber growth and revenue, while Intuitive Surgical and American Express also reported earnings that beat estimates.
Overall, the market is facing uncertainty as investors navigate through earnings reports and disruptions caused by global IT outages.
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