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1. Israel-Hamas cease-fire in Gaza ends after just a few hours

A three-day Gaza cease-fire that began Friday quickly unraveled, with Israel and Hamas accusing each other of violating the truce.

2. Lollapalooza music festival to begin in Chicago

Chicago is about to get a little louder, as the music festival invades Grant Park for the weekend. Rapper Eminem will headline the first night's festivities, with performances from Outkast, Kings of Leon, Lorde and many others rounding out the very lengthy lineup. Althea Legaspi (@AltheaLegaspi) will tweet the latest from the venues and concerts.

3. Congress enters its summer recess & Cantor quits

Representatives and Senators alike spend their last working day on Capitol Hill Friday with congressional recess beginning at the end of the day. Typically, the month-long recess lasts throughout August, but as the border funding bill collapsed Thursday under the weight of conservative opposition, many Republicans are wary to let the bill wait until September. Early Friday, departing House Majority Leader Eric Cantor said he will quit Congress altogether in August.

4. Bureau of Labor and Statistics releases employment updates

Following last month's rapid employment gains — reaching a seven-year high — the bureau will release a series of updates that include July's latest figures. Economists have estimated that 231,000 new jobs were created last month, matching the average monthly additions so far this year, and matching a sixth-month trend of 200,000-plus gains.

5. Superhero-studded 'Guardians of the Galaxy' opens in theaters

Comic-book fans, rejoice! Marvel's band of misfit criminals-turned-superheroes arrives on silver screens across the country Friday. Starring comedian Chris Pratt, a green Zoe Saldana and even a raccoon-ified version of Bradley Cooper, this action flick hopes to deliver big numbers. See what film critic Claudia Puig (@claudiapuig) had to say about the "perfectly pitched escapist fun" of the movie.

Before you see Marvel’s newest blockbuster, Carly Mallenbaum and Brian Truitt introduce you to its stars Rocket, Groot, Gamora, Drax and Peter Quill.

Bonus: Happy Birthday, MTV!

Cable's first network devoted to "music television" went on air for the first time 32 years ago, broadcasting The Buggles' Video Killed the Radio Star.

And, the essentials:

Weather: Showers and thunderstorms will continue to develop throughout most of the country.

Stocks: After a major sell-off Thursday, Wall Street was looking at gains Friday

TV Tonight: Wondering what to watch tonight? TV critic Robert Bianco looks at FX's The Strain and NBC's Crossbones.

If you missed Thursday's news, we've got you covered here.

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