5 Things to Know

5 things to know before the stock market opens Friday

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1. Wall Street looks to close week with four-session winning streak

Traders work on the floor of the New York Stock Exchange (NYSE), July 21, 2021.
Brendan McDermid | Reuters

Dow futures rose more than 150 points Friday, pointing to a strong end of the week at Wall Street's open and what could be four straight positive sessions after Monday's major plunge. The Dow Jones Industrial Average, the S&P 500 and the Nadsaq were pacing for weekly gains. The Nasdaq was leading the way with an advance of nearly 1.8% over the past four days. All three are also within 1% of their latest record closes, on July 12.

Dow stock American Express rose about 4% in the premarket after the credit giant reported quarterly earnings and revenue that best estimates. Shares of Honeywell International, also a Dow stock, increased modestly in the premarket after the industrial company beat estimates with quarterly earnings and revenue. Honeywell also raised its outlook. A quarter of the way through earnings season, Wall Street is headed toward the best profit growth in over a decade

In the bond market, the 10-year Treasury yield, which moves inversely to price, ticked higher Friday, trading at about 1.3% after hitting a 5½-month low of nearly 1.13% earlier this week. July purchasing managers' manufacturing and services indexes are out at 9:45 a.m. ET.

2. Snap, Twitter soar while Intel drops on quarterly results

The Snapchat application on a smartphone arranged in Saint Thomas, Virgin Islands, U.S., on Friday, Jan. 29, 2021.
Gabby Jones | Bloomberg | Getty Images

Tech stocks rose in Friday's premarket, with shares of Snap surging 16% after the social media company surprised analysts with a quarterly profit, earning an adjusted 10 cents per share. Revenue also exceeded projections. Snap late Thursday reported higher-than-expected daily user metrics as well as an upbeat revenue forecast.

The Twitter logo is displayed on a smartphone screen on April 14, 2021.
NurPhoto | NurPhoto | Getty Images

Shares of Twitter rose 5% in premarket trading after the company late Thursday beat estimates by 13 cents with adjusted quarterly profit of 20 cents per share. Revenue topped forecasts as ad sales surged 87% from a year earlier. Twitter also gave an upbeat current quarter revenue forecast.

Intel's logo is pictured during preparations at the CeBit computer fair.
Fabian Bimmer | Reuters

Dow stock Intel fell almost 2% in Friday's premarket, the morning after the company issued a forecast that disappointed some investors and said the global chip shortage could last well into 2023. Intel did exceed estimates with quarterly earnings of $1.28 per share. Revenue also surpassed projections.

3. Delta variant is one of the most infectious respiratory diseases ever, CDC director says

Critical care workers insert an endotracheal tube into a coronavirus disease (COVID-19) positive patient in the intensive care unit (ICU) at Sarasota Memorial Hospital in Sarasota, Florida, February 11, 2021.
Shannon Stapleton | Reuters

The delta variant, dominant in the U.S., is one of the most infectious respiratory diseases ever seen, warned the director of the Centers for Disease Control and Prevention. The variant is highly contagious, largely because people infected with delta can carry up to 1,000 times more virus in their nasal passages than those infected with the original coronavirus strain, according to new data. The latest seven-day average of new Covid cases was up 65%, while deaths fell 7% in the same time frame to 250 per day.

4. IOC says all possible Covid safety measures have been taken

A view of the Olympic rings in Tokyo ahead of the Tokyo 2020 Olympic Games in Japan.
Danny Lawson | PA Images | Getty Images

With the Tokyo Olympics officially underway Friday, after a one-year delay, the International Olympic Committee said organizers have done all they can do, based on expert Covid recommendations, to ensure a safe games. The IOC was responding to criticism that it's using "cheap measures" and ignored advice. Reuters reported that 11 athletes have tested positive for the coronavirus since July 2, while Olympic-related infections, including officials and media, were over 100. Earlier this week, World Health Organization chief Tedros Adhanom Ghebreyesus said, "The mark of success is making sure that any cases are identified, isolated, traced and cared for as quickly as possible, and onward transmission is interrupted."

5. NFL warns teams about Covid outbreaks among unvaccinated players

General view of the NFL Shield logo on the field before Super Bowl LV between the Tampa Bay Buccaneers and the Kansas City Chiefs at Raymond James Stadium.
Kim Klement | USA TODAY Sports | Reuters

The National Football League plans to operate as normal as possible for the 2021 season and told teams they would forfeit games and lose money if Covid outbreaks occur due to unvaccinated players. In a memo obtained by CNBC, the NFL informed team executives and head coaches that it doesn't plan to reschedule games due to outbreaks as it did during the 2020 season. Instead, the league wrote that "postponements will only occur if required by government authorities, medical experts, or at the discretion" of NFL Commissioner Roger Goodell. The league's hard stance on postponing games will also protect network partners who just agreed to a media deal worth more than $100 billion.

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Disclosure: CNBC parent NBCUniversal owns NBC Sports and NBC Olympics. NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032.