Wall Street Breakfast Podcast: Microsoft SharePoint Attacks

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Microsoft (MSFT) server software hit by widespread cyberattack. (00:22) London Stock Exchange (OTCPK:LDNXF) considers 24-hour trading to meet retail demand: FT. (01:52) Alaska Airlines resumes operations after tech outage. (02:46)

This is an abridged transcript.

Microsoft (NASDAQ:MSFT) is warning of “active attacks” targeting its SharePoint server software.

The software is used widely by government agencies and businesses to share documents internally.

The company has issued a security patch to “mitigate active attacks targeting on-premises servers” and urged customers to install it immediately to protect against a serious vulnerability.

The attacks, described as “zero-day” exploits, target a previously unknown flaw in on-premises versions of SharePoint—specifically the 2016 and 2019 editions. Microsoft emphasized that its cloud-based SharePoint Online, part of Microsoft 365, is not affected.

In an alert, Microsoft said the vulnerability “allows an authorized attacker to perform spoofing over a network,” potentially disguising themselves as a trusted entity to manipulate systems or data. The company advised customers unable to apply the fix right away to disconnect their servers from the internet as a precaution.

The FBI confirmed it is aware of the attacks and is coordinating with federal agencies and private-sector partners.

According to the Washington Post, which first reported the breach, the hackers exploited the flaw in recent days to target U.S. and international agencies and enterprises. Cybersecurity experts estimate tens of thousands of servers could be at risk.

The London Stock Exchange Group (OTCPK:LDNXF) (OTCPK:LNSTY) is exploring the possibility of offering 24-hour trading as interest grows among retail investors for access to the markets around-the-clock.

The Financial Times reported on Sunday that sources familiar with the discussions told the newspaper that LSEG is evaluating the feasibility of extended or continuous trading hours. This includes assessing the necessary technology infrastructure and regulatory considerations.

An LSEG spokesperson declined to comment on the matter.

The London exchange is not alone in considering such a shift. Other major players including the New York Stock Exchange (NYSE:ICE), Nasdaq (NASDAQ:NDAQ) and Cboe Global Markets (BATS:CBOE) have recently submitted proposals to lengthen their trading hours, responding to increased smartphone-driven participation from individual investors.

Alaska Airlines (NYSE:ALK) has resumed operations after requesting a ground stop for all mainline flights. The ground stop lasted about 3 hours.

The airline stated on its website that it was “experiencing issues with our IT systems.”

The move also impacted flights operated by Horizon Air, its wholly-owned regional subsidiary. The news comes just one month after sister carrier Hawaiian Airlines admitted to hackers disrupting a portion of its IT systems.

The FAA status page showed all destinations being impacted by the ground stop of Alaska’s mainline aircraft.

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Dow, S&P and Nasdaq futures are in the green. Crude oil is down 0.4% at $67/barrel. Bitcoin is up 1.3% at $118,000. Gold is up 0.4% at $3,364.

The FTSE 100 is flat and the DAX is also flat. And the market in Japan is closed for a holiday.

The biggest movers for the day premarket: Block (NYSE:XYZ) +9% – Shares jumped after S&P Dow Jones Indices announced that the fintech firm will join the S&P 500, replacing Hess (HES), which was acquired by Chevron (CVX). The change takes effect before trading opens on Wednesday, July 23.

On today’s economic calendar:

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