5 things to know before the stock market opens on Friday

Happy Friday. Finding your morning cup of joe can quickly become difficult. starbucks More stores will be closed.

After a slow day for the market, stock futures are up slightly this morning.

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

Wall Street was in the spotlight this week as U.S. Treasury yields soared to multi-decade highs. Traders are now assessing what the move means for a range of assets, and wondering if the rapid rise in yields is a sign of things to come in the market.

Here’s the latest information:

The Senate yesterday narrowly rejected a resolution calling for an end to the Iran war. All but four Republican senators voted against the bill, even as Republicans grapple with concerns that the conflict and its impact on energy prices could hurt candidates’ chances in the midterm elections.

The nation’s largest business group warned President Trump this week about a ban on diesel exports that the president says he is pushing amid soaring energy costs. Industry officials have warned that such a move could ultimately increase diesel costs.

Meanwhile, oil prices fell after Iranian state media reported this morning that Tehran’s Foreign Minister Abbas Araghchi said the country would reopen the Strait of Hormuz within seven days “if certain conditions are met.”

Novo This week looked at plans to boost growth beyond blockbuster weight-loss drugs. But as CNBC’s Annika Kim Constantino and Elsa Oren write, the drug company still has work to do to convince investors it can hold its own. Eli Lilly It is slowly taking market share from Danish pharmaceutical companies.

The company had an early lead in the oral weight loss market thanks to its Wigovy tablets, but Lilly CEO Dave Rix told CNBC earlier this week that one-third of new GLP-1 patients are now taking the company’s Foundayo tablets. Novo promised investors on Monday that it has a pipeline of drugs that could jump to market, including outside of its core obesity and diabetes fields.

Novo’s U.S.-listed shares have fallen more than 10% so far this week, putting the stock on track for its worst performance since February. At the same time, Lilly stock rose about 2.5%.

Meta We were late to the race for generative artificial intelligence. Now, Wall Street is rewarding the company’s efforts to prevent history from repeating itself in consumer AI games.

After announcing its personal agent app Muse earlier this month, Facebook’s parent company announced its Muse Charm device this week, clearly ahead of OpenAI. google. As CNBC’s Jonathan Bunyan writes, the device also reflects Meta’s efforts to reduce addiction. apple For distribution.

CEO Mark Zuckerberg provided few details about what the gadget actually does, but that doesn’t seem to have deterred investors. Meta stock soared nearly 17% this week, marking its biggest weekly gain since early 2024.

Cat owners are splurging on their feline friends. This is great news for pet retailers. chewy, general mills and petco.

The American Pet Products Association estimates that 53 million households will own cats by 2025, following the recent cat population boom. Executives attribute this to the animals’ improved ability to live in small spaces and the lower cost of raising them compared to dogs.

If sales of cat products are strong, the space for dogs can be made less soft. “Dogs seem to be getting worse, but cats seem to be getting stronger,” Chewy CEO Sumit Singh said on an earnings call this month.

Here are some articles to bookmark this weekend.

—CNBC’s Sean Conlon, Matt Peterson, Diana Orrick, Sara Agostino, Garrett Downs, Spencer Kimball, Elsa Oren, Annika Kim Constantino, Jonathan Vanian and Catriona Marangi contributed to this report.

Josephine Rozzelle edited this version.