http://www.comicbookresources.com/article/doctor-strange-wont-shy-away-from-the-heros-magical-powers-artifacts
While speaking with Entertainment Weekly, Marvel Studios president Kevin Feige spoke about Doctor Strange's comparatively strange power set, which includes a few magical accessories in addition to his spell-casting.“He does cast spells, which in the comics have very sort of tongue-twisty fun names. We don’t want to shy away from that, because that’s what makes Doctor Strange Doctor Strange," said Feige. "He has a Cloak of Levitation that allows him to fly, but he doesn’t fly like Superman or like Thor. It’s almost got a consciousness of its own, this cloak, which, again, gives us a superhero with a red cape -- which we’ve seen a few times -- but allows us to do it in a wholly unique and wholly original way. He can create these mandalas of light that he can use as shields and he can use as sort of weapons. He can create portals that will open before your eyes that he can step through and go to other places around the world. And frankly, even in this film, we’ll only touch upon what a lot of his powers are.”
In addition to the Cloak, Benedict Cumberbatch's Stephen Strange will also possess the Eye of Agamotto, another one of the hero's signature artifacts.