U.S. stock index futures fell on Friday, as traders shifted out of expensive megacap technology stocks, while assessing the impact of a worldwide tech outage that hit businesses across sectors.

Market Snapshot

At 7:50 a.m. ET, Dow e-minis were down 61 points, or 0.15%, S&P 500 e-minis were up 4.5 points, or 0.08%, and Nasdaq 100 e-minis were up 28.50 points, or 0.14%.

Pre-Market Movers

Microsoft, CrowdStrike - Microsoft was falling 1.5% and CrowdStrike declined 12% as aglobal IT outagecaused airlines to ground planes and financial companies and other businesses unable to access their computer systems. The London Stock Exchange also experienced technical issues. Microsoft said in a tweet on X that it was "investigating an issue impacting users ’ ability to access various Microsoft 365 apps and services. CrowdStrike said some of the crashes — which have left some PC users confronted with a so-called Blue Screen of Death — were tied to issues with its Falcon Sensor.

CrowdStrike CEO George Kurtz said the "issue has been identified, isolated and a fix has been deployed." He said it wasn ’ t a "security incident or cyberattack."

Netflix - Netflix reported better-than-expectedsecond-quarter earningsand added 8.05 million subscribers in the period, topping analysts ’ estimates and the 5.89 million subscribers added a year earlier. Shares of the streaming giant rose 0.6% in premarket trading. Netflix posted revenue that was roughly in line with Wall Street estimates and the company forecast a 14% increase in third-quarter revenue to $9.7 billion, which would be slightly below consensus.

ARM Holdings - Morgan Stanley analyst Lee Simpson upgraded Arm Holdings from Equalweight to Overweight with a price target of $190.00. Arm shares gained 2.6% in premarket trading Friday.

Plug Power - Plug Power dropped 11% after the hydrogen-technology company announced a public share offering of $200 million.

SunPower - SunPower shares plunged another 15% in premarket trading Friday after sinking 40% on Thursday. Reuters reported the company has told clients it is pausing some operations, including deactivating lease and power purchase agreements from its own sales platform and halting new product shipments.

Intuitive Surgical - Intuitive Surgical, the robotic surgery company, reported second-quarter adjusted profit that beats analysts ’ estimates and sales of $2.01 billion, which were better than expectations of $1.97 billion. Intuitive Surgical said procedures with its da Vinci robotic systems rose 17% from a year earlier. Shares rose 5.5%.

PPG Industries - PPG Industries posted second-quarter earnings and revenue that fell from a year earlier, sending shares of the paint and coatings company down 3.6% in premarket trading. The company said it saw organic sales growth in its many of its businesses, including aerospace coatings and packaging coatings. But that growth "was offset by global automotive builds that weakened as the quarter progressed and global industrial production which remained soft."

American Express - American Express reported second-quarter profitthat topped analysts ’ expectations. But the stock was down 2% in premarket trading.

Schlumberger - SLB posted second-quarter earnings that were higher than a year earlier and the stock gained 1.7%. Per-share earnings of 77 cents missed analysts ’ forecasts of 82 cents. Revenue at the oil-services company rose 13% to $9.14 billion.

Halliburton - Halliburton, the oil-services provider, reported second-quarter revenue that missed Wall Street estimates. Shares declined 2.9%.

Serve Robotics - Shares of Serve Robotics surged 75% in premarket trading Friday after chip giant Nvidia disclosed its investment in the company.

Market News

Donald Trump Accepts Nomination, Pledges to Serve All Americans

Former President Donald Trump opened his remarks at the Republican National Convention with a message of unity, as he vowed an "incredible victory" in four months. "The discord and division in our society must be healed. We must heal it quickly. As Americans, we are bound together by a single fate and a shared destiny. We rise together. Or we fall apart," he said. "I am running to be president for all of America, not half of America, because there is no victory in winning for half of America."

Trump accepted the nomination for his party for the third time, amid cheers on Thursday. He then thanked the country for the support he received after the assassination attempt at a Trump rally on Saturday. "Thank you very much, and we will do it right," he said.

Some Biden Cabinet Members Discussed if Time for Him to End Bid

Some members of President Joe Biden ’ s cabinet have had private discussions among themselves as to whether it ’ s now time for his closest advisors to reckon with him about his increasingly dim electoral prospects, according to a person familiar with the matter.

The top-tier officials aren ’ t themselves trying to push Biden aside, but have discussed whether his 2024 reelection campaign has reached a breaking point, according to the individual, who was granted anonymity to discuss private conversations. The cabinet members acknowledged in their talks that voters have questions around the president ’ s health and ability to defeat ex-President Donald Trump a second time.

Still, like many prominent Democrats, the cabinet officials ultimately concluded it was up to the president and a coterie of close longtime aides to hash out the matter. There was hope that the president ’ s family and the staff members in his inner circle would level with Biden about his standing in the race.