Stock futures were little changed Friday morning after both the S&P 500 and Nasdaq hit new highs, while the Dow Jones neared its own record levels.\n<\/p>\n
Netflix (NFLX<\/a>) shares were lower after the streaming giant posted strong earnings and raised its revenue outlook; bitcoin (BTCUSD<\/a>) was flat and ether jumped following the House of Representatives\u2019 passage of crypto legislation;\u00a0Norfolk Southern (NSC<\/a>) shares jumped on a report of a takeover bid by Union Pacific (UNP<\/a>).\n<\/p>\n Here’s what investors need to know today.\n<\/p>\n 1. Stock Futures Flat After Tech Stocks Extend Streak to Four Sessions <\/p>\n Stock futures were flat in premarket trading Friday after a session in which tech stocks continued their streak<\/a> and major indexes touched new highs.\n<\/p>\n S&P 500<\/a> futures were little changed after the benchmark index rose 0.5% to hit its first record high in more than a week. Nasdaq<\/a> futures were also flat after the Nasdaq Composite added 0.7% to set its fourth consecutive record high, while Dow Jones Industrial Average<\/a> futures were little changed after rising 0.5% to put the blue- chip index less than 1% away from a record high.\n<\/p>\n The Trade Desk (TTD<\/a>) is joining the S&P 500 today<\/a>.\n<\/p>\n Yields on the 10-year Treasury note were around 4.46%. Oil futures rose to trade at near $67 a barrel, while gold futures also moved higher.\n<\/p>\n 2. Netflix Posts Strong Earnings Growth, Lifts Full-Year Revenue Forecast <\/p>\n Netflix (NFLX<\/a>) shares dropped by nearly 2% after the streaming giant reported quarterly earnings that topped analysts\u2019 expectations<\/a>, while also lifting its full-year revenue forecast. The earnings came ahead of other tech reports scheduled for next week, including numbers frmo Tesla (TSLA<\/a>), Google parent Alphabet (GOOG<\/a>), and Intel (INTC<\/a>).\n<\/p>\n Netflix\u2019s second-quarter net income<\/a> of $7.19 per share rose from $4.88 per share in the year-ago quarter, above analysts’ estimates compiled by Visible Alpha, while its revenue growth of 15.9% year-over-year was in line with the analyst consensus. The company also warned about higher expenses and shrinking operating margins in the second half of the year, which may have contributed to the decline in shares that have risen some 40% this year.\n<\/p>\n 3. Bitcoin Flat After House Passage of GENIUS Act, Other Crypto Bills <\/p>\n Bitcoin\u2019s (BTCUSD<\/a>) price was around $118,000 a day after the House of Representatives passed cryptocurrency legislation<\/a> that was promoted by President Donald Trump, overcoming objections by some members earlier this week. The president can now sign the\u00a0GENIUS Act<\/a>, which establishes a framework for private companies to issue stablecoins.\n<\/p>\n The House-passed CLARITY Act would establish a new framework of crypto regulation, while the Anti-CBDC Surveillance State Act would prevent the Federal Reserve from issuing a central bank digital currency. Both will require Senate approval before they can move to Trump’s desk.\n<\/p>\n The passage of the legislation also benefited the ether<\/a> cryptocurrency, which was up 4% on the day, part of a 40% rise this month<\/a>.\n<\/p>\n 4. American Express Profit, Revenue Beat Estimate <\/p>\n American Express<\/a>\u00a0(AXP<\/a>) shares rose by nearly 2% in premarket trading after the credit card giant reported better second-quarter revenue and profits than analysts expected, lifted by what the company called record spending.\n<\/p>\n American Express reported earnings per share of $4.08 as revenue increased 9% from the\u00a0same time a year ago<\/a>, with both results coming in higher than Visible Alpha estimates had forecast. The credit card provider\u2019s net interest income rose 12% year-over-year to $4.19 billion, just below the analyst consensus of $4.23 billion.\n<\/p>\n American Express\u2019 report comes as several financial institutions issued strong earnings reports this week as\u00a0banking executives cited healthy U.S. consumers<\/a>.\n<\/p>\n 5. Norfolk Southern Shares Rise on Report of Takeover by Union Pacific <\/p>\n Norfolk Southern (NSC<\/a>) shares were higher by nearly 5% in early trading after a report that it was in discussions to be acquired by its larger rival Union Pacific<\/a> (UNP<\/a>).\n<\/p>\n