Dow Jones Industrial Average Futures Tank After China Trading Halt

It's looking to be an ugly start to the new year, with ​Dow Jones Industrial Average (DJIA)​ futures pointing to a 284-point drop at the open. Wall Street is taking a cue from global stocks, which are getting crushed amid a brutal day for China's Shanghai Composite. Meanwhile, oil futures are on the rise after Saudi Arabia ended diplomatic relations with Iran, with February-dated crude up 1.9% at $37.76 per barrel. 

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

• The Street is upbeat on outperforming GoDaddy Inc (NYSE:GDDY) -- but traders are betting on a plunge.
• Is there more than meets the eye to Advanced Micro Devices, Inc. (NASDAQ:AMD) call volume?
• The $92 million contract that sent one food stock soaring.
• Plus... Chinese stocks get halted, Tesla meets its goal, and more bad news for Chipotle. 

Futures on the Dow Jones Industrial Average (DJIA) are 284 points below fair value. 

5 Things You Need to Know Today

 

1. Global stocks are falling fast after a nearly 7% sell-off in China's Shanghai Composite. 
2. The Chicago Board Options Exchange (CBOE) saw 550,810 call contracts traded on Thursday, compared to 380,480 put contracts. The resultant single-session equity put/call ratio rose to 0.69, while the 21-day moving average remained at 0.71. 
3. Tesla Motors Inc (NASDAQ:TSLA) is positioned to struggle at the open along with the broader market, after the company just barely exceeded the low end of its fourth-quarter delivery quota. TSLA delivered over 17,000 vehicles during the quarter, and over 50,000 for the year. 
4. It's been tough sledding recently for Valeant Pharmaceuticals Intl Inc (NYSE:VRX), and a new year doesn't seem to be the cure. The shares are set to open 3.8% lower today, as activist investor Bill Ackman said he sold roughly 5 million shares for tax purposes. Ackman still owns about 8.5% of the drug company, or just over 29 million shares. 
5. Meanwhile, Chipotle Mexican Grill, Inc. (NYSE:CMG) continues to struggle following a disastrous end to 2015. Not only did Oppenheimer lower its rating on the stock to "perform," but CMG also got hit with two price-target cuts this morning. Sterne Agee CRT and Maxim both lowered their 12-month targets to $435 -- territory not seen since October 2013. 

Earnings and Economic Data

The Institute for Supply Management's (ISM) manufacturing index and data on construction spending will hit the Street today. There are no notable earnings on tap. To see what else is coming up on this week's agenda, click here​.