🔎Global IT outage didn't pull back Wall Street
Today session is historical, which is related to the global failure of many IT systems due to problems with products from companies such as Microsoft and Crowdstrike. These outages were caused by updating systems, which did not go as planned. We wrote more about these problems earlier. It's worth noting, however, that many companies use software from Microsoft and Crowdstrike (a company associated with cybersecurity), which has led to the grounding of aircraft from companies such as American Airlines, Delta Airlines and United Airlines, among others.
Problems also occurred at many European airports. Problems also occurred in media companies or even in the financial industry. At the opening of the session in the US, we see an approximate 12% retreat on CrowdStrike shares and a retreat of just 0.37% on Microsoft. The aerospace companies index is retreating about 4% in the US. It is worth noting, however, that the initial losses are being neutralized in many cases. Although the most important problems have already been resolved, some point out that it may take a few more days to correct the errors.
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Open real account TRY DEMO Download mobile app Download mobile appWe can see quite large pullback in the aviation sector at the start of the Wall Street session. Source: Bloomberg Finance LP, XTB
US500 and Microsoft D1 charts
Futures on the S&P 500 (US500) are rising almost to the 5600-point level, reacting to the 5575-point support. It is worth noting that the range of the largest correction in the trend, which began in the second half of April, is also maintained. Source: xStation5
Microsoft is limiting almost all of its losses from the beginning of the session, reacting to very important support near $432 per share. Crowdstrike shares are also rebounding, returning above $300 per share. Source: xStation5
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