IT outage causes global disruption, airlines recover, Microsoft and CrowdStrike stocks down

From Nasdaq: 2024-07-19 10:49:00

A massive IT outage originating from CrowdStrike has caused a “Blue Death Screen” across global companies, with Microsoft also affected. Companies are rebounding, with American, United, and Delta airlines coming back online. Microsoft shares are down -1.3%, while CrowdStrike is down -12.6%. American Express beat earnings but missed revenue expectations.

The Travelers outperformed on earnings but missed on revenue, with record net income driving the stock up +1.5%. Schlumberger posted beats on earnings and revenue, seeing a +1.6% uptick. New York Fed President John Williams and Atlanta Fed President Raphael Bostic will address interest rate cuts.

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