🔎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.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app
We 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
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
