5 things to know before markets open on Friday

Happy Friday. I spent last night watching the love triangle that unfolds in the Broadway musical “Chess.” So it only makes sense that we bring you the latest updates. Netflix and paramount skydancebattle of warner bros discovery In this morning’s morning paper.

Stock futures are falling ahead of the bell. of S&P500 and Nasdaq Composite My down days are over.

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

Netflix yesterday pulled out of a deal to buy some of Warner Bros. Discovery’s assets after WBD’s board said it deemed Paramount’s updated acquisition offer superior. It’s the latest development in a months-long takeover spree that has gripped Hollywood.

Here’s what you need to know:

WBD announced Thursday that Paramount’s new all-cash bid of $31 per share exceeds its current deal with Netflix. The streaming giant was given four days to adjust its offer. Shortly after, Netflix co-CEOs Ted Sarandos and Greg Peters said that aligning with Paramount’s offer made the deal “no longer economically attractive.” While Netflix was only interested in acquiring WBD’s studio and streaming assets, Paramount wants the entire business. WBD’s other brands include CNN, TBS, and TNT. Notably, Sarandos was in the White House just before the company announced it was throwing in the towel. A White House official told CNBC that Sarandos has not met with President Donald Trump himself. Shares of Netflix and Paramount both rose nearly 8% in after-hours trading. Meanwhile, WBD stock fell nearly 2%.

block The fintech company announced yesterday that it would lay off more than 4,000 people, about half of its workforce. Finance chief Amrita Ahuja said the job cuts would position the company for “the next phase of long-term growth”. Wall Street cheered the move, sending parent company Cash App’s stock up 20% in after-hours trading.

CEO Jack Dorsey said in a letter to shareholders that he expects more companies to make similar staffing changes as “intelligence tools” drive efficiency. early Thursday morning, eBay The company announced it would lay off about 800 positions, or 6% of its staff. As CNBC’s Annie Palmer pointed out, eBay’s shakeout comes as the online marketplace has been making major investments in AI.

Anthropic has not withdrawn its position on AI in defense. CEO Dario Amodei said yesterday that he “cannot in good conscience” allow AI startups to allow the Pentagon to use their models in all legitimate use cases without restriction.

Anthropic is seeking a commitment from the Pentagon that its model will not be used for fully autonomous weapons or for mass domestic surveillance of American citizens, a restriction the Pentagon would not agree to.

Anthropic said yesterday that the denial is ongoing. Defense Secretary Pete Hegseth has set a deadline of today for Anthropic to agree to the department’s demands, threatening to label the company a “supply chain risk” or invoke the Defense Production Act if it doesn’t.

Women’s wealth is expected to grow rapidly in the coming decades.

According to McKinsey & Company, women’s cumulative investable wealth in the United States will nearly double between 2023 and 2030. They are also poised to benefit from the more than $100 trillion in wealth expected to be passed on to their heirs through 2048 – what has been dubbed the “Great Wealth Transfer.”

“We’re about to see this big shift in who controls wealth,” Stephanie Link, chief investment strategist at Hightower Advisors, told CNBC’s Michelle Fox.

Here are some stories I recommend you make time for this weekend.

— CNBC’s Alex Sherman, Lillian Rizzo, Dan Mangan, Eamon Javers, Kai Nicole-Schwartz, Sean Conlon, Pia Singh, Jordan Nove, Annie Palmer, Ashley Caputo and Michelle Fox contributed to this report. Josephine Rozzelle edited this version.