Dow Jones Industrial Average Futures Point to Breather After Big Gains

Dow Jones Industrial Average (DJIA) futures are essentially flat this morning, indicating it may be a slow day heading into the long holiday weekend, after three straight sessions of triple-digit gains. Traders will be digesting monthly auto sales, as well manufacturing and construction spending data, and keeping an eye on bonds, with the 30-year Treasury yield hitting a record low. Meanwhile, slumping oil prices could weigh on stocks, with August-date crude oil last spotted 0.5% lower at $48.09 per barrel.

Continue reading for more on today's market, including: ​

• How the "magnetic" effect of open interest can impact stocks on your watch list.
• 3 gold stocks getting a nod from analysts.
• The cereal maker that just hit a new high -- and has options bulls looking for more.
• Plus... stimulus chatter keeps global stocks climbing, investigations into a deadly Tesla crash, and the semiconductor firm making cuts.

Futures on the Dow Jones Industrial Average (DJIA) are nearly 5 points below fair value.

5 Things You Need to Know Today
 

1. Global stocks are enjoying modest gains as stimulus talk from central bankers in Europe keep markets energized.
2. The Chicago Board Options Exchange (CBOE) saw 743,779 call contracts traded on Thursday, compared to 480,502 put contracts. The resultant single-session equity put/call ratio climbed to 0.65, while the 21-day moving average remained at 0.69.
3. Electric auto maker Tesla Motors Inc (NASDAQ:TSLA) is set to slide 3% at the open, following reports a Model S driver was killed in a crash in May while using the car's "Autopilot" feature. Investigators are trying to determine whether the self-driving system was operating properly at the time of the collision.
4. Micron Technology, Inc. (NASDAQ:MU) is down 9% is pre-market trading -- much to the chagrin of recent call buyers -- after the company reported lackluster fiscal third-quarter sales and announced it would cut about 2,400 jobs.
5. Biotech firm Allergan plc Ordinary Shares (NYSE:AGN) reported its treatment for "double chins," belkyra, has received a "positive opinion" in Sweden. Traders appear less than impressed with the news, as the shares were last seen just below breakeven in electronic trading.

Earnings and Economic Data

Cleveland Fed President Loretta Mester will speak in London today. There are no notable earnings reports scheduled. To see what's coming up on next week's schedule, click here. 

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