Here are four things you need to know this morning

Up again: U.S. stock futures pointed higher Friday morning after the TSX Composite and S&P 500 benchmarks both closed at record highs Thursday. Strong corporate earnings and confidence in the strength of the U.S. economy encouraged investors. 3M raised its profit forecast and beat estimates in the second quarter and Bloomberg says the combined value of crypto assets soared beyond US$4 trillion for the first time, driven by the U.S. move to pass regulations seen as favouring the sector.

Don’t you hate construction projects? BHP Group has run into rising costs and delays at its gigantic potash-mining project in Saskatchewan. Estimated costs at the Jansen project’s first phase, which is 68 per cent complete, have blown out from $5.7 billion to as much as $7.4 billion, while potential oversupply in the market may delay the second stage of the project by two years, BHP said.

Stream on: Netflix shares slipped in the pre-market but that’s after nearly doubling over the past year. The world’s biggest streaming service posted second-quarter results that topped expectations. Tune in at 3:45 ET Friday, when we’ll hear from Citi analyst Jason Bazinet. He argues that “open platforms” such as YouTube and Substack, where users submit their own content, are “rapidly taking share from traditional media.” For example, he says that in video streaming, YouTube is beating Netflix. We’ll ask him if the two are comparable when Netflix provides professionally produced programs while YouTube features, well, a lot of rubbish among worthier offerings.

Tight situation: Finally, shares in Lululemon Athletica have dropped nearly 40 per cent this year. Jefferies analyst Randal Konik, a long-time bear on the stock, says the company’s Lululemon’s black leggings, which are vital products that rarely are discounted, have been piling up at outlet stores. That’s a sign of weak demand, Konik says. “We’ve witnessed signals of a brand in decline and see risks to earnings ahead,” he warns.