World Street | US indices climb, CrowdStrike stumbles, Ether ETFs on the horizon, and more

World Street offers sneak peak into top global news developments

In the July 23 edition of World Street, we highlight key global developments, including US benchmark indices closing in positive territory, CrowdStrike shares faltering due to a continuing global outage, and the imminent launch of Ethereum ETFs. Dive in for more details!

Rise, rise, rise

Wall Street's three major benchmarks closed higher overnight as investors returned to megacap growth stocks, aiding the S&P 500 and Nasdaq Composite in recovering from their worst weekly performance since April. The Dow Jones Industrial Average also returned to positive territory, ending a two-session decline since reaching an all-time closing high on July 17.

Cyber outage halts flights

Delta Air Lines CEO Ed Bastian stated that it will take a few more days for the US carrier's operations to recover from a global cyber outage that disrupted flights worldwide. The Atlanta-based airline has been significantly affected by the outage, canceling over 4,000 flights since July 19 and stranding thousands of customers nationwide. In contrast, disruptions at other major US carriers have largely subsided.

Cookies to stay on your browser

After years of delay, Google has announced that it will no longer cancel and replace third-party cookies for its Chrome internet browser. Third-party cookies are small pieces of code that websites deliver to a visitor’s browser, which remain as the person visits other sites. This practice has been integral to the digital advertising ecosystem, enabling the tracking of users across multiple sites for targeted ads.

CrowdStrike's nightmare

CrowdStrike shares dropped by 13 percent overnight as the cybersecurity software company continued assisting clients across various industries in recovering from an outage that affected millions of Microsoft Windows devices last week.

Ether ETFs are coming!

The US Securities and Exchange Commission (SEC) appears to have approved exchange-traded funds (ETFs) that hold ether, the world's second-largest cryptocurrency. Trading is expected to begin as soon as July 23. Several fund issuers submitted additional registration statements on July 22 afternoon, and exchanges have indicated that the funds will trade on July 23, signaling that the SEC has given its approval.

Q2 miss hits Verizon

Verizon Communications reported second-quarter adjusted earnings that met estimates, while revenue missed Wall Street targets. Verizon stock fell as other key financial metrics disappointed investors. Verizon's consumer unit did not turn positive in Q2 as some analysts had hoped, losing 8,000 postpaid phone subscribers, while the company added 156,000 business subscribers.

(with inputs from Reuters and other agencies)