U.S. stock futures on Tuesday morning were indicating a higher open on Wall Street. The Dow Jones Industrial Average, reversing and then some a 163-point deficit as Boeing shares soared, eked out another record high close Monday. However, the S&P 500 and Nasdaq finished lower. President Donald Trump speaks at the Economic Club of New York City on Tuesday. Investors will be looking for any update on progress toward cementing a 'phase one' U.S.-China trade deeal. There's also plenty of Fed-speak Tuesday, including Federal Reserve Vice Chairman Richard Clarida, with markets attuned for clues on how central bankers see the economy and whether they're done adjusting interest rates after three cuts this year.
Corporate earnings continue to flow Tuesday, with CBS highlighting the before-the-bell releases. The media giant reported an adjusted third-quarter profit of 95 cents per share on nearly $3.3 billion, beating on the bottom line but missing estimates on the top line. On Tuesday afternoon, SmileDirectClub — one of this year's worst performing IPOs — and one-time cannabis high-flyer Tilray are out with quarterly results after the bell. Some Wall Street analysts believe that generally weaker earnings in 2019 are paving the way for a solid 2020 profit picture and a boost to stocks.
Walt Disney launches its new Disney+ video streaming service Tuesday, with a deep content library, ranging from animated classics and Disney Channel TV shows to superhero blockbusters and intergalactic sagas. Much of Disney's streaming strategy is predicated on stirring up sentimentality around movies and shows that date back to the founding of the company nearly 100 years ago. Disney+ joins a crowded streaming field dominated by Netflix, Amazon and Hulu and newcomers Apple TV+, AT&T's HBO Max and early next year Comcast's Peacock.
Goldman Sachs denied allegations of gender bias, saying it will reevaluate credit limits for Apple Card users on a case-by-case basis for customers who received lower credit lines than expected. The controversy surfaced Friday, when a tech entrepreneur wrote a series of tweets complaining that he got a credit limit 20 times higher than his wife, despite the couple filing tax returns jointly. Goldman is also looking into ways that family members can share a single Apple Card account. In most cases, the issue stems from the Apple Card being only for individual accounts, not joint accounts shared by a household, the bank said.
The Supreme Court is set to hear arguments Tuesday over the legality of Trump's effort to rescind the Obama-era Deferred Action for Childhood Arrivals program that protects "dreamers" from deportation. DACA, as it's also known, shields about 660,000 immigrants who entered the U.S. illegally as kids. The Trump administration has argued that former President Barack Obama exceeded his constitutional powers when he bypassed Congress and created DACA by executive action. Trump has made his hardline immigration policies a centerpiece of his presidency and 2020 re-election campaign.
— Reuters contributed to this report.