Dow Jones Industrial Average Futures Point to Seventh Straight Day of Gains

Dow Jones Industrial Average (DJIA) futures are trading above fair value this morning, pointing to a modestly higher start after Friday's sixth straight daily win -- and yet another record high. A failed military coup in Turkey rattled global markets over the weekend, but traders seem to be shaking off those concerns this morning, thanks in part to a big M&A boost from across the pond. Looking ahead, Wall Street is preparing for a busy week of earnings, with many big names -- including several Dow components -- scheduled to report. 

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

• Why this outperforming stock should be on contrarians' radar.
• 4 reasons this biotech could be a breakout story.
• 2 big-cap earnings reports to watch tonight.
• Plus... Global markets attempt to overcome instability fears, another bank beats on earnings, and "Star Wars" keeps demand for one toymaker booming.

5 Things You Need to Know Today
 

1. Stocks in London are leading the charge amid a generally lackluster day overseas, thanks to some high-profile M&A news.
2. The Chicago Board Options Exchange (CBOE) saw 926,637 call contracts traded on Friday, compared to 484,334 put contracts. The resultant single-session equity put/call ratio dropped to 0.52, while the 21-day moving average slid down to 0.65.
3. Financial name Bank of America Corp (NYSE:BAC) reported better-than-expected earnings and revenue, even as profits for the second quarter fell by nearly 20%, due largely to low rates. The stock has wavered between minor gains and small losses ahead of the open.
4. Drugmaker AstraZeneca plc (ADR) (NYSE:AZN) is up 0.2% in electronic trading after the company reported its lung cancer treatment, TAGRISSO, met its primary endpoint in a phase 3 trial.
5. High demand for Disney Princess dolls and "Star Wars" action figures helped toymaker Hasbro, Inc. (NASDAQ:HAS) beat expectations for second-quarter earnings, but the shares are trading 0.6% lower ahead of the bell.

Earnings and Economic Data

The NAHB housing market index and Treasury International Capital (TIC) data will kick off the week's economic reports. Stepping into the earnings confessional will be IBM (IBM), Netflix (NFLX), Cal-Maine Foods (CALM), EMC Corporation (EMC), Steel Dynamics (STLD), VMWare (VMW), and Yahoo! (YHOO). To see what else is on this week's schedule, click here.