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- π MAJOR IT OUTAGE HITS MARKETS
π MAJOR IT OUTAGE HITS MARKETS
Plus: S&P drops
Good Morning!
There was chaos on Monday morning in Europe as a major IT outage caused airports, train stations, and banks to grind to a halt. This follows the broader stock market drop from yesterday.
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Markets
πS&P 500 Drops 0.8% as Investors Offload Risky Stocks in Broad Selloff
Panic selling hit the S&P 500 on Thursday, causing a 0.8% drop. Most sectors closed in the red, dragging the Dow Jonesdown by 533.06 points (1.3%) and the NasdaqComposite by 0.7%. The brief shift from tech to bank and consumer stocks quickly fizzled, leaving all three major indexes deep in the red.
π¬οΈNetflix earnings: Subscriber growth beats estimates
Netflixreported a "modest beat-and-mixed quarter". While revenue projections for the current quarter were slightly below expectations, the companyincreased its full-year operating-margin outlook. In markets with an advertising tier, over 45% of new signups are for the ad-supported plan.
π¦What JPMorgan's Stock Earnings Reveal About the Economy
Banking stocks usually lead the market's direction, but not all are equal. While record profits for JPMorgansignal a strongeconomy, diverging trends suggest caution. Investment banking revenues hint at a rebound, but their rise before rate cuts, amid peak interest rates, may indicate risk reduction. This activity might be preparing for a rough road ahead, diversifying deals, and financing equity and debt instruments.
πΊπΈWhat banks should take away from this week's whirlwind political drama
The 2024 election took a dramatic turn as former President Donald Trump, sporting a bandaged ear from a failed assassination attempt, officially accepted the Republican nomination. Here's what bankers should know.
βΊοΈRanking The Best Passive Income Investments
To achieve financial freedom before traditional retirement age, focus on building passive income. This post highlights the best passive income investments for today's economy. Passive income is the holy grail of personal finance; it allows you to cover your desired lifestyle and live freely. Many fail to live their truth due to a lack of passive income.
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Top Story
GLOBAL ECONOMY
Major Global IT Outage Hits Markets

The βBlue screen of deathβ which met many workers this morning.
The FTSE 100 and European stocks dropped on Friday morning as major banks, media outlets, and airlines facedsignificantIToutages.
This disruption, linked to a Microsoft issue, affected businesses worldwide, including flights at Sydney Airport and United Airlines, which had to halt operations. The London Stock Exchange group's platform also experienced issues.
Rail companies weren't spared either. Britain's biggest train company, Govia Thameslink Railway, warned passengers of disruptions.
The widespread outage is believed to stem from a problem at global cybersecurity firm Crowdstrike.
Market impacts were immediate: London's benchmark index fell 0.8% in early trade, Germany's DAX dipped 0.6%, and the CAC in Paris dropped 0.4%.
Wall Street futures also pointed to a lower open, with S&P 500, Dow, and Nasdaq futures all in the red.
Investment analyst Dan Coatsworth from AJ Bell commented on the disruption's potential impact, noting that the duration of the outage is crucial. Short-term disruptions are inconvenient but manageable, while prolonged issues could significantly damage industries and economies by preventing workers from performing essential functions.
CRWDsharesplunged more than 16% in premarket trading.
LIVE LOOK FROM AN AIRPORT IN INDIA
THEY HAVE A WHITE BOARD PROVIDING UPDATES ABOUT FLIGHTS
AS THE FLIGHT UPDATE SOFTWARE IS CURRENTLY DOWN AT THE AIRPORT
β GURGAVIN (@gurgavin)
9:05 AM β’ Jul 19, 2024
Thanks Bill Gates
β Delta (@deltaxbt)
7:04 AM β’ Jul 19, 2024
I've used tons of net worth tracking apps.
Kubera's my fav by FAR.
I have zero affiliation. Don't even know them.
I'm pretty sure its a tiny team. But they've been launching so many cool features and are moving fast.
@KuberaApp
β Sam Parr (@thesamparr)
11:38 PM β’ Jul 18, 2024
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πTradingView - Software we use to chart stocks.
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