Futures muted after recent rout, Crowdstrike slumps after global outage
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Netflix slips on downbeat Q3 revenue, subscriber additions forecast
SLB up after beating quarterly profit estimates
Insurer Travelers gains on higher Q2 profit
Futures down: Dow 0.17%, S&P 500 0.01%, Nasdaq 0.04%
Updated at 7:05 a.m. ET/ 1105 GMT
By Lisa Pauline Mattackal and Ankika Biswas
July 19 (Reuters) -U.S. stock index futures were subdued onFriday as investors pausedafter a grueling two-day selloff, while Crowdstrike slumped after the cybersecurity firm identified an issue impacting Windows users amid a sweepingglobal tech outage.
Major U.S. airlines ordered ground stops citing communication issues, while some financial services firms andbanks reported system outages that disrupted their operations.
Crowdstrike CRWD.O lost 11.8% in premarket trading after customers wereimpacted by a defect found in a single content update for Microsoft MSFT.O Windows hosts.
Microsoft MSFT.O shed 1.3%, on track for its fourth straight day of losses driven by a rout in tech stocks.
London Stock Exchange Group's LSEG.L Workspace news and data platform was also hit by the outage, affecting user access worldwide and leading to disruptions across financial markets, while Euronext said some North American stocks-based indices were being broadcast incorrectly.
"The inconvenience caused by the loss of access to services for thousands of people serves as a reminder of our dependence on Big Tech such as Microsoft in running our daily lives and businesses," said Jake Moore, global security advisor at ESET.
"Businesses must test their infrastructure and have multiple fail safes in place, however large the company is."
The disruption comes after a grueling two sessions for Wall Street, as investors assessed second-quarter earnings and a move away from megacap tech stocks that have primarily driven the equity rally in 2024.
Megacaps stocks were largely mixed, with Nvidia NVDA.O and Amazon.com AMZN.O losing around 1% each, while Apple AAPL.O and Alphabet GOOGL.O were up 0.6%.
Chip stocks also struggled for direction. Micron Technology MU.O and U.S.-listed shares of Taiwan Semiconductor Manufacturing TSM.N were down more than 1%,while Arm Holdings ARM.O jumped nearly 3%.
Over the past two sessions, the tech-laden Nasdaq .IXIC has fallen 3.5%, the benchmark S&P 500 .SPX lost 2.1% and the Russell 2000 .RUT snapped a five-day winning streak on Wednesday.
Signaling investor unease, the VIX .VIX - Wall Street's "fear gauge" -was trading above 16 points, itshighest since late April.
Investors will also await comments from U.S. Federal Reserve officials John Williams and Raphael Bostic for hints on the monetary policy path later in the day.
Markets have broadly priced in a 25-basis-point interest-rate cut from theFed's September meeting and still expect two cuts by the year-end according to LSEG data.
At 7:05 a.m. ET, Dow e-minis 1YMcv1 were down 70 points, or 0.17%, S&P 500 e-minis EScv1 were down 0.75 points, or 0.01%, and Nasdaq 100 e-minis NQcv1 were down 8.25 points, or 0.04%.
Meanwhile, other cybersecurity companies including Palo Alto Networks PANW.O, Fortinet FTNT.O and SentinelOne S.N rose between 1.2% and 6.6% after the global disruption.
Among single movers, Netflix NFLX.O slipped 0.6% after the streaming giant cautioned that third-quarter subscriber gains would be lower than a year earlier and forecast third-quarter revenue below estimates.
Intuitive Surgical ISRG.O climbed 5% aftersecond-quarter results beat estimates.
SLB SLB.N gained 2% as thetop oilfield services provider beat estimates for second-quarter profit, while Travelers Companies TRV.N rose 1.1% following a rise insecond-quarter profit.
Reporting by Lisa Mattackal and Ankika Biswas in Bengaluru; Editing by Pooja Desai and Devika Syamnath
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