Updated from 5:45 a.m. EST

If you'd like to receive "5 Things" in your email inbox every morning, please register for TheStreet Alerts and follow me.

Here are five things you must know for Friday, Dec. 16:

1. -- U.S. stock futures and European shares turned higher as global markets adjusted to higher U.S. interest rates.

The dollar surged to the highest since December 2002 against a basket of global currencies in overnight trading, taking the dollar index to 103.56. It has since eased to 102.85.

When the Federal Reserve raised rates by a quarter of a percentage point on Wednesday it also signaled as many as three interest rate increases in 2017.

Asian shares closed the session Friday mixed. Japan's Nikkei 225 index rose 0.7% as the yen weakened, helping shares of the country's exporters.

The economic calendar in the U.S. on Friday includes Housing Starts for November at 8:30 a.m. EST, and the weekly Baker Hughes Rig Count at 1 p.m.

Richmond Federal Reserve Bank President Jeffrey Lacker is scheduled to appear on a panel at the Charlotte Chamber of Commerce Economic Outlook Conference in Charlotte at 12:30 p.m.

Oil prices in the U.S. early Friday fell 0.4% to $50.70 a barrel.

2. -- Facebook (FB) - Get Report has partnered with the Associated Press, ABCNews and other groups to flag content shared on the social media platform that the fact-checking organizations determine are fake.

"We're trying to focus on the worst of the worst, the bottom of the barrel here," said Adam Mosseri, the Facebook executive who oversees the company's news feed. 

The changes at Facebook entered a testing phase in the U.S. on Thursday.

According to the Associated Press, when it or "another participating fact-check organization flags a piece of content as fake, Facebook users will see that it has been disputed and there will be a link to the corresponding article explaining why."

Facebook is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells FBLearn more now.

The stock dipped slightly in premarket trading.

3. -- Software company Adobe Systems (ADBE) - Get Report  posted adjusted earnings of 90 cents a share in its fiscal fourth quarter, topping analysts' estimates, as revenue jumped 23% to $1.61 billion. 

Adobe's digital media segment, which includes the popular Photoshop software, reported revenue of $1.08 billion, exceeding analysts' projections of $1.06 billion. Digital marketing, a division that delivers a wide range of enterprise data services, saw its revenue grow 32% year over year to $465 million;  Wall Street was looking for revenue of $482 million in the segment. 

Adobe Systems is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells ADBE? Learn more now.

The stock rose almost 1% in after-hours trading on Thursday.

4.-- Oracle (ORCL) - Get Report  reported considerable growth in its cloud business in its fiscal second quarter but overall revenue fell short of expectations.

Shares fell 2.7% in premarket trading on Friday.

The software maker reported adjusted earnings in the quarter of 61 cents a share on revenue of $9.07 billion. Analysts were looking for profit of 60 cents a share on revenue of $9.11 billion.

Software-as-a-service and platform-as-a-service revenue soared 87% from a year earlier to $912 million, but still only made up about 10% of Oracle's revenue in the period. Total cloud revenue was $1.09 billion; Wall Street expected $1.05 billion.

Oracle's story remains mostly unchanged from the way it looked before earnings, according to TheStreet's Eric Jhonsa. The company is squeezing out a minimal amount of organic growth as cloud gains are offset by declines in traditional hardware and software sales, and is eager to use acquisitions to improve its top-line performance.

5. -- Actelion (ALIOF)  shares surged Friday in Zurich amid speculation that France's Sanofi (SNY) - Get Report  could be prepping a formal bid for the Swiss biotech.

Actelion rose 8.5% following a Bloomberg report that the company was in "advanced talks" with Sanofi that could lead to a $30 billion takeover. 

Actelion said earlier this week it had "engaged in discussions with another party regarding a possible strategic transaction," but cautioned that there can be "no certainty at this point that any transaction will result.

The statement came after Johnson & Johnson (JNJ) - Get Report abandoned its potential $27 billion takeover bid.