US futures point lower as investors eye Trump’s speech to Congress

Traders work on the floor of the New York Stock Exchange (NYSE) the morning after Donald Trump won a major upset in the presidential election on November 9, 2016 in New York City.
Spencer Platt | Getty Images
Traders work on the floor of the New York Stock Exchange (NYSE) the morning after Donald Trump won a major upset in the presidential election on November 9, 2016 in New York City.

U.S. stock index futures pointed to a lower open on Tuesday which could finally break the Dow's winning streak, as investors await a key speech from President Donald Trump in the evening.

Markets edged higher in the previous session. The Dow and S&P 500 hit fresh intraday highs. The Dow gained around 15 points, closing at a record high for a 12th consecutive session, its longest winning streak since 1987.

Investors are looking ahead to President Trump's speech to a joint session of Congress in the evening. He's expected to discuss his bigger plans for defense and stimulus spending. He's also expected to address repeal and replacement of the Affordable Care Act, but markets are most interested in what he has to say about tax reform.

On the earnings front, SeaWorld and Target are among the companies that reported before the bell. Target reported weaker-than-expected results, sending shares down more than 10 percent in the premarket.

After the bell, Palo Alto Networks, Salesforce and Jazz Pharmaceuticals are expected to post earnings.

There are also lots of data on the calendar. The second reading of Q4 GDP showed a 1.9 percent increase, unchanged from the first read and below an expected 2.1 percent rise.

Later, we'll have the Chicago PMI reading and consumer confidence figures.

Meanwhile in Europe, the pan-European Stoxx 600 index traded flat.

—CNBC's Patti Domm and Fred Imbert contributed to this report