5 things to know before markets open on Friday

Happy Friday. My colleague and I will cover Berkshire HathawayTomorrow’s annual meeting will be the first without Warren Buffett as CEO. Watch special coverage on TV and online.

The S&P 500 futures index was little changed this morning after closing above the 7,200 level for the first time yesterday.

Here are five important things investors need to know to start their trading day.

There were no April showers for investors this year. Thursday’s stock market rally capped off a strong month for Wall Street. caterpillar and alphabet It will help investors allay concerns about the economic impact of the Iran war.

Here’s what you need to know:

apple Shares rose more than 3% this morning after the company’s second-quarter profit and revenue beat analysts’ expectations. The iPhone maker also announced better-than-expected revenue guidance for the current quarter.

Although iPhone sales fell short of expectations for the second time in the past three quarters, mobile phone sales were still up 22% compared to the same period in 2025. In an earnings call, CEO Tim Cook called the iPhone 17 “the most popular lineup in our history,” adding that overall sales exceeded expectations “despite supply constraints.”

Mr Cook, who recently announced that Apple would hand over the reins to John Tarnas in September, also warned of a global memory shortage: “We believe memory costs will increase the impact on our business,” he told analysts yesterday. meta and microsoft also said in this week’s earnings report that rising memory prices were a contributing factor to the increase in capital spending forecasts.

President Donald Trump yesterday signed a bill that largely funds the Department of Homeland Security, ending a months-long partial government shutdown. But the deal, which passed the House Thursday afternoon, does not include funding for parts of Immigration and Customs Enforcement or Customs and Border Protection.

Elsewhere in Washington, the Senate passed a bill yesterday that would immediately ban senators from trading in prediction markets. The vote comes in the wake of growing concerns about insider trading on platforms such as Karshi and Polymarket.

Bad news, California drivers. Yesterday, the average price of gasoline in California exceeded $6 per gallon for the first time since 2023. This marks a 30% rise in the Golden State since the Iran war began in February.

Drivers in other states have not been helped either. The national average hit $4.30 a gallon yesterday, a sharp jump after staying below $4.10 for much of last week.

As CNBC’s Spencer Kimball reports, the U.S. energy shock may not be going away anytime soon. President Trump has vowed to continue the U.S. blockade of Iranian ports until Iran agrees to the nuclear deal, but it could be some time before the Middle Eastern country feels enough economic pressure.

demand for hersheyThe company’s gum and mint products are booming as consumers taking GLP-1 drugs turn to “functional snacks,” the company’s CEO Kirk Tanner said yesterday.

As CNBC’s Amelia Lucas writes, the “breath of Ozempic” may be something to be thankful for. Some GLP-1 users have reported experiencing bad breath while taking the drug, but it is not listed as an official side effect. novo nordisk medicine.

Meanwhile, the weight loss drug market continues to expand rapidly. The latest evidence came to light yesterday. Eli LillyReports of strong demand for Zepbound and its new drug Foundayo.

Here are some articles you may have missed this week.

—CNBC’s Sean Conlon, Laura Murti, Katie Tarasoff, Sarah Ming, Jennifer Elias, Dan Mangan, Spencer Kimball, Amelia Lucas, Annika Kim Constantino and Angelica Peebles contributed to this report.

Davis Giangiulio helped produce this newsletter. Josephine Rozzelle edited this version.