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Tech Glitch Halts Trading on Black Friday
28 Nov
Summary
- A cooling issue at data centers caused a trading halt on Black Friday.
- Stock futures were trending higher before the unexpected trading stoppage.
- Major indexes were on track for their best weekly gains since June.
Black Friday trading experienced an unexpected disruption when a cooling issue at CyrusOne data centers caused a halt across CME Group's stock, bond, and commodity exchanges. This incident occurred as futures for the Nasdaq, S&P 500, and Dow Jones Industrial Average had shown slight gains, signaling a potentially strong trading day.
Prior to the outage, key commodities and assets showed movement: WTI crude futures rose 0.7% to $59.10 per barrel, gold futures climbed 0.5% to $4,220 per ounce, and the 10-year Treasury note yield remained stable. Bitcoin traded in a narrow range, and the U.S. dollar index saw a modest increase.
Despite the halt, major stock indexes were still on pace for their largest weekly gains since June. However, all three indexes were down for the month of November heading into Friday's trading session. In corporate news, Robinhood Markets saw a further premarket increase, while Jefferies Financial Group's stock dipped amid SEC scrutiny.
