Dow Futures Signal Another Up Day for U.S. Stocks

Dow Jones Industrial Average (DJIA) futures are higher in electronic trading, with the blue-chip index on track for another record-setting session. Strong economic data fueled yesterday's gains in stocks, and today, motor vehicle sales will be in focus. Traders will also keep one eye trained on Las Vegas, as developments continue to unfold surrounding Sunday's mass shooting, as well as on Puerto Rico, where President Donald Trump is scheduled to visit in the aftermath of Hurricane Maria. Futures on the S&P 500 Index (SPX) are up, as well, signaling a move to new highs. Another positive session for the Dow would make it five in a row, while the SPX is targeting a six-day win streak.

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

• 3 must-see short interest charts, courtesy of Schaeffer's Senior V.P. of Research Todd Salamone.
• This Disney partner is one of J.P. Morgan Securities' top picks.
• The drug stock that's up almost 500% this year.
• Plus, the car stock flirting with record highs; Tesla's Model 3 update disappoints; and Lennar gets a lift from earnings.

1. The Chicago Board Options Exchange (CBOE) saw 917,661 call contracts traded on Monday, compared to 563,946 put contracts. The single-session equity put/call ratio rose to 0.61, and the 21-day moving average remained at 0.62.
2. General Motors Company (NYSE:GM) stock is up 1.9% in pre-market trading, after BofA-Merrill Lynch upgraded the car stock to "buy" from "neutral" and raised its price target to $57 from $40 -- expected upside of 35% to the stock's Monday close of $42.15. GM shares hit a record high of $42.48 yesterday, following the company's announcement that it plans to add 20 new battery electric and fuel cell vehicles to its global lineup by 2023.
3. Sector peer Tesla Inc (NASDAQ:TSLA) stock isn't faring as well this morning, last seen down 2.4% before the bell, after the luxury electric car maker said it didn't produce as many of its new Model 3 sedans as it planned during the third quarter. TSLA shares -- which are set to open at their lowest level since early August -- hit a record high of $389.61 on Sept. 18, but closed yesterday at $341.53.
4. Homebuilder Lennar Corporation (NYSE:LEN) reported stronger-than-expected quarterly earnings, echoing sector peer KB Home (NYSE:KBH). LEN stock is pointed 3.1% higher in pre-market trading, set to take on familiar resistance in the $55 region.
5. Paychex (PAYX) will report earnings.

Overseas Trading

Gains in U.S. stock prices spread to Asian equities overnight. Hong Kong shares had the best day by far, rising 2.3%, thanks to broad gains from large-cap stocks. Japan’s Nikkei also had a solid day, picking up 1.1%, with a weaker yen acting as a tailwind for major exporters. Meanwhile, Chinese and South Korean markets remained closed for national holidays.

Stocks in Europe are also trading above breakeven, but disappointing economic data out of the U.K. could be capping their upside. Specifically, data revealed that the construction sector unexpectedly slowed during September, with the construction purchasing managers index falling below 50 for the first time in over a year, signifying contraction. Investors also continue to monitor the violent protests in Spain. France’s CAC 40 was last seen trading up 0.2% and London’s FTSE 100 has gained just 0.1%. Markets in Germany are closed for German Unity Day.