Stock Futures Quiet Following Breakout Week

Dow Jones Industrial Average (DJIA) futures are muted to start the week, after the blue-chip index closed above 40,000 for the first time in the previous session. Futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are modestly higher as well, on the heels of a breakout week, as Wall traders eyes key economic readings and await the Federal Reserve's meeting minutes.

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

• A record-breaking week on Wall Street.
• Oil and gas stock is a solid bullish bet.
• Plus, MU upgraded; Li Auto's disappointing results; and why Apple stock slipping.

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw 2.1 million call contracts and 1.2 million put contracts exchanged on Friday. The single-session equity put/call fell to 0.54, and the 21-day moving average stayed at 0.70.
2. Morgan Stanley upgraded Micron Technology Inc (NASDAQ:MU) stock to "equal weight" from "underweight." The firm said it underestimated the company's artificial intelligence (AI) memory business. MU is up 2.3% in premarket trading, and sports an 89.2% year-over-year lead.
3. China-based electric vehicle (EV) maker Li Auto Inc (NASDAQ:LI) is 4.6% lower ahead of the open, after posting a first-quarter earnings miss and disappointing current-quarter guidance. LI has already shed 28% this year.
4. Reuters reported tech giant Apple Inc (NASDAQ:AAPL) is implementing massive discounts on iPhones in China, pushing shares down 0.2% before the bell. AAPL is still up 9% in the last 12 months.
5. Retail earnings and economic data are due out this week.

Asian Markets Higher on China's Rate Decisions

Asian markets finished higher on Monday, after China kept its one- and five-year loan rates steady at 3.45% and 3.95%, respectively. Despite a dip in property stocks, China’s Shanghai Composite added 0.5%, still buzzing on Friday’s jump that came after the country rolled out measures to boost the property market. Hong Kong’s Hang Seng rose 0.4%, while the South Korean Kospi added 0.6%, and Japan’s Nikkei tacked on 0.7% to start the week.

European markets are also higher at last glance. London’s FTSE 100 is up 0.1%, with plenty of attention surrounding Shein’s potential listing on the index, while the French CAC 40 rises 0.6%, and the German DAX moves 0.5% higher.