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This article will be updated throughout the day, so check back often for more daily updates.
Futures trading was suspended on the Chicago Mercantile Exchange Friday morning after the exchange said “a cooling issue at CyrusOne data centers” in Chicago forced a halt to trading. “Globex futures and options markets, foreign exchange platform EBS markets and BMD markets were all impacted,” reports CNBC.
When you hear about a “data center” going offline, the natural conclusion to jump to in the current climate is to think a lack of power was the issue — that we need to build more nuclear power plants to keep all these new data centers running.
But this is not the case (at least not this time). CME Group (Nasdaq: CME), parent company to the Chicago Merc, said the suspension happened because: “On November 27, our CHI1 facility experienced a chiller plant failure affecting multiple cooling units.” The good news is that the company was able to restart “several chillers at limited capacity,” bring in “temporary cooling equipment to supplement our permanent systems,” and as a result, trading appeared to return to normal around 8:30 a.m. ET this morning.
Despite the hiccup, the Vanguard S&P 500 ETF (NYSEMKT: VOO) is trading up 0.3% premarket Friday.
Trading will shut down again early — as planned this time — at 1 p.m. ET today on Black Friday.
Earnings
Companies are taking a break from reporting earnings today, probably still recovering from the Thanksgiving meal. A handful of mostly smaller stocks are planning to report after close of trading however. Space company Spire Global (NYSE: SPIR) for example, which operates a small constellation of maritime and weather tracking satellites, will report this evening.
Analysts are hoping to see Spire’s losses slim to $0.33 per share, but revenue is also expected to decline 26% to $21.2 million.
Analyst calls
In other space news, JPMorgan analyst Akhil Dattani upgraded satellite operator Eutelsat Communications SA (OTC: EUTLF) to neutral with a EUR1.90 price target. The stock is down 80% since JPMorgan last commented on it, downgrading to underweight in 2022. Despite continued worries about earnings power, Dattani thinks there’s not a whole lot of downside left.