5 Things to Know

5 things to know before the stock market opens Friday

1. Wall Street looks to pad gains this week

Cloud data warehouse company Snowflake is promoted at the Nasdaq MarketSite, Wednesday, Aug. 5, 2020, in New York's Times Square.
Mark Lennihan | AP

U.S. stock futures were pointing to a mixed open Friday on Wall Street, with recently beaten-up tech stocks getting a boost. The Nasdaq on Thursday dropped 1.3% and briefly dipped back into a correction, down 10% from its Sept. 2 record highs. The Dow Jones Industrial Average, down as much as 384 points and at one stage positive, closed 130 points or 0.5% lower, ending a four-session winning streak. The S&P 500 lost 0.8% on Thursday. After last week's downturn, the three benchmarks were up for this week ahead of Friday's trading.

2. Unity wraps up one of the busiest IPO weeks of the year

Unity CEO John Riccitiello speaks onstage during Day 1 of TechCrunch Disrupt SF 2018 at Moscone Center on September 5, 2018 in San Francisco, California.
Steve Jennings | TechCrunch | Getty Images

The big week for initial public offerings brings Unity to Wall Street on Friday. The video game software developer on Thursday evening priced shares at $52 after lifting the anticipated range Wednesday to $44 to $48 per share. Unity wraps up one of the busiest weeks for IPOs this year, highlighted by Wednesday's debut of Snowflake, which more than doubled in value to close the day with a market cap over $70 billion. Snowflake, which gave back about 10% on Thursday, was under some pressure in Friday's premarket.

3. Commerce Department says it would block U.S. downloads of TikTok, WeChat

Sheldon Cooper | LightRocket | Getty Images

Shares of Oracle fell 1.5% in the premarket after the Commerce Department announced Friday morning that it would ban U.S. business transactions with China-owned social apps WeChat and TikTok, starting Sunday. President Donald Trump is expected to announce Friday whether or not the government will approve a deal for Oracle to take a minority stake in TikTok and become a "trusted technology partner" for the company in the U.S. Walmart was also aiming to take a stake. Last month, citing national security concerns, Trump signed an executive order that Beijing-based ByteDance sell or spin off TikTok's U.S. operations or face a ban.

4. Trump and Biden to travel to battleground state Minnesota

Joe Biden (left) and Donald Trump
Ron Adar | Echoes Wire | Barcroft Media via Getty Images; Mandel Ngan | AFP | Getty Images

Trump and Democratic presidential nominee Joe Biden are going to battleground state Minnesota on Friday. They're expected to avoid Minneapolis, where the May killing of George Floyd, a Black man, by a White police officer sparked a national reckoning on systemic racism. Trump will visit Bemidji, about 200 miles northwest of the city, while Biden swings through Duluth, 150 miles northeast of the city on the banks of Lake Superior near to the Wisconsin line.

5. Two Goldman Sachs employees said to test positive for Covid-19

A pedestrian passes in front of 200 West St., which houses the headquarters of Goldman Sachs Group, in New York.
Scott Eells | Bloomberg | Getty Images

Two employees at Goldman Sachs' downtown New York headquarters have tested positive for Covid-19, a company official told The New York Times. The two work on different floors. The Times reported that Goldman officials believe the cases came from exposure to the coronavirus outside the office, where more workers have been returning in recent weeks. "Our people's safety is our first priority, and we are taking appropriate precautions to make sure our workplaces remain safe for those who choose to return," Leslie Shribman, a Goldman spokeswoman, told the Times. Earlier this week, J.P. Morgan Chase sent workers home after a company employee tested positive for the virus.

— The Associated Press contributed to this report. Follow all the developments on Wall Street in real-time with CNBC's live markets blog. Get the latest on the pandemic with our coronavirus blog.