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Here are five things you must know for Friday, Feb. 24:
1. -- U.S. stock futures were pointing solidly lower Friday putting in jeopardy the Dow Jones Industrial Average's streak of 10 consecutive record high closes.
The Dow rose 0.17% on Thursday, achieving a new record close of 20,810, its 10th straight record closing high. The S&P 500 gained 0.04%. The Nasdaq declined 0.43% following a mixed reaction to Tesla's (TSLA) - Get Tesla Inc Report recent quarter.
Global stocks fell Friday amid worries over U.S. trade policies and the tax and spending plans from Donald Trump.
Trump has accused countries like China and Japan of unfair competition and currency manipulation that he said are hurting U.S. jobs.
Trump, in an interview with Reuters on Thursday, called China the "grand champions" of currency manipulation.
China said on Friday it has no intention of using currency devaluation to its advantage in trade, Reuters reported.
2. -- The economic calendar in the U.S. on Friday includes New Home Sales for January at 10 a.m. EST, Consumer Sentiment for February at 10 a.m., and the weekly Baker Hughes Rig Count at 1 p.m.
Analysts polled by FactSet expect home sales will rise to a seasonally adjusted annual rate of 575,000.
3. -- Hewlett Packard Enterprise (HPE) - Get Hewlett Packard Enterprise Co. Report posted fiscal first-quarter sales below Wall Street forecasts and slashed its full-year guidance. The stock fell 6.7% in premarket trading on Friday.
Adjusted earnings in the quarter were 45 cents a share, a penny above forecasts. Revenue was $11.4 billion, below projections of $12.07 billion.
Full-year earnings guidance was cut by 12 cents a share because of significant headwinds from foreign exchange, higher commodity pricing, and near-term execution issues, the company said.
HP Enterprise is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio.
"Bottom line: HPE's restructuring and refocusing, in addition to its M&A activity, will help drive improved fundamentals beyond 2017, and while we continue to note that sentiment remains foggy until a clearer picture of stand-alone HPE emerges post spin- offs, therein lies the opportunity," wrote Cramer and the AAP team. "These numbers tonight do not change our view that (CEO Meg) Whitman will position the company, however she has to, in order to drive value for shareholders.
Want to be alerted before Cramer buys or sells HPE? Learn more now.
Waymo's 28-page complaint, filed Thursday in a San Francisco federal court, accuses Anthony Levandowski, a former top manager for Google's self-driving car project, of stealing technology Uber is now using to assemble a fleet of autonomous vehicles for its ride-hailing service.
Waymo said Levandowski downloaded 14,000 files from Google a month before leaving to start his own self-driving car company, Otto, the New York Times reported. Uber acquired Otto in August for $680 million, about seven months after Levandowski left Google.
Uber didn't respond to requests for comment from the Times.
5. -- Gap (GPS) - Get Gap, Inc. Report shares rose slightly in after-hours trading on Thursday after the retailer reported fourth-quarter earnings and sales above analysts' estimates.
The owner of Banana Republic and Old Navy posted adjusted earnings of 51 cents a share, topping forecasts by 1 cent. Revenue was $4.43 billion, higher than analysts' expectations of $4.41 billion. Comparable-store sales increased 2% during the quarter, matching analysts' projections.
"We're pleased to finish the year strong, with positive comp and sales growth during the critical holiday quarter," CEO Art Peck said in a statement.
Comparable-store sales at Old Navy rose 1% during the fiscal year, while full-year Gap comps fell 3% and Banana Republic dropped 7%.