Global IT outage causes stock market decline, cybersecurity stocks up, airline stocks pressured

From NASDAQ: 2024-07-19 11:39:42

Today, the S&P 500, Dow Jones, and Nasdaq are down due to global IT outages affecting businesses worldwide. Cybersecurity stocks are up, led by SentinelOne and Pal Alto Networks. Interest rates are pressured upwards from rising US inflation expectations. European government bond yields are higher, with the German bund yield up. Overseas markets are mixed.
Cybersecurity stocks rise as CrowdStrike’s update causes global IT outage. CrowdStrike plunges, alongside Microsoft, while SentinelOne and Pal Alto Networks climb. Airline stocks face pressure from flight delays and cancellations. Intuitive Surgical, Huntington Bancshares, and Eli Lily are among the top gainers. Netflix reports strong streaming paid memberships, while Haliburton, Travelers Cos, and American Express face losses.
Hawaiian Electric Industries surges after agreeing to pay for wildfires damage. Surgery Partners explores strategic options. Netflix gains after strong Q2 streaming paid memberships. Haliburton reports revenue miss. Travelers Cos and American Express face revenue disappointments. Comerica lowers net interest income loss estimate. PPG Industries cuts adjusted EPS outlook. Several companies report earnings on 7/19/2024.



Read more at NASDAQ: Stocks Lower as a Global IT Outage Disrupts Businesses