Listing objectives is a clever way to "demystify" the reading process for students. It clearly states what we are trying to accomplish. When students know what they are trying to learn, they are able to learn it more easily. Objectives give students end goals and reasoning behind what they have to do.
When you say fist to five check students rate their understanding by holding up the appropriate number of fingers. The goal is for everyone to be in the green. Great way for students to self-assess their understanding and help you to gauge student understanding.