5 Things to Know This Friday Nov. 16

1. 4 Dead After Train Hits Parading Veterans

Authorities say at least four people are dead after a train hit a parade float headed to a Texas parade honoring wounded veterans. Seven of the seventeen people injured are in critical condition.

2. Petraeus Set to Testify Before House Intelligence Committee

Former CIA Director David Petraeus is set to testify before the House Intelligence committee today. He will testify about the Sept. 11 attack on the U.S. Consulate in Benghazi that left multiple people dead. Petraeus is not expected to discuss his resignation or affair with his biographer.

President Obama will host top congressional leaders at his first "fiscal cliff" summit today. The president is expected to make a push to extend Bush tax rates for families earning $250,000 or less.

4. Diabetes Problem Worsening

The nation's diabetes problem is worsening, particularly in the south where weight problems are growing, according to a new report by the Centers for Disease Control and Prevention study. The diabetes rate in Oklahoma more than tripled over 15 years. Kentucky, Georgia and Alabama also saw dramatic increases since 1995.

5. Hostess to Make Announcement on Liquidation

Hostess Brands Inc., the maker of Twinkies, says it will announce this morning whether the company will be forced to liquidate its baking business after striking union members failed to return to work Thursday evening. The company gave workers a 5 p.m. ET Thursday deadline or said it would be forced to file for bankruptcy.