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Indices trade mixed amid massive CrowdStrike IT outages
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Indices trade mixed amid massive CrowdStrike IT outages

NYSE Traders

A trader works on the trading floor of the New York Stock Exchange (NYSE) in New York, USA, on March 9, 2020.Bryan R Smith

  • U.S. stocks were mixed on Friday amid a global technology outage triggered by Crowdstrike’s cybersecurity platform.

  • A Crowdstrike bug caused disruptions in industries that rely on Microsoft’s Windows system.

  • Investors are closely watching second-quarter results as they could determine the success or failure of the year-to-date stock rally.

US stocks saw mixed trading on Friday as a global technology outage occurred following an update from cybersecurity company Crowdstrike.

The Crowdstrike update contained a bug that caused widespread disruptions to computers running Microsoft’s Windows operating system.

The problem caused disruptions in airports, hospitals, hotels, banks and other businesses around the world, with the dreaded Blue Screen of Death appearing on Windows computers.

Crowdstrike said the outage was not caused by a hacker attack. The company has found and provided a solution and is working to implement it for its customers.

Crowdstrike shares fell 13 percent in trading on Friday, while Microsoft shares fell just over 1 percent.

Investors will be keeping a close eye on the Nasdaq 100, which saw a sharp sell-off last week while smaller-cap stocks rose sharply.

The flood of earnings results will tell investors whether rising profits can sustain the strong rise in stock prices since the beginning of the year.

Netflix released its results on Thursday that beat analyst estimates for revenue, profit and net subscriber additions, but weaker-than-expected third-quarter forecasts sent the stock down about 1%.

About 10 percent of S&P 500 companies have reported second-quarter results so far, with 81 percent beating earnings estimates by an average of 4 percent, while 65 percent beat revenue estimates by an average of 3 percent, according to data from Fundstrat.

Here you can see the situation of the US indices shortly after trading began at 9:30 a.m. on Friday:

Here’s what else is happening today:

For commodities, bonds and cryptocurrencies:

  • West Texas Intermediate crude oil fell 1.12 percent to $80.39 a barrel. Brent crude oil, the international benchmark price, fell 0.86 percent to $84.33 a barrel.

  • The price of gold fell 2.37% to $2,398.30 per ounce.

  • The yield on 10-year government bonds remained unchanged at 4.21%.

  • Bitcoin rose 0.60% to $64,364.

Read the original article on Business Insider

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