Markets

5 things to know before the stock market opens Tuesday

1. Stock futures steady after Monday's major Dow comeback

A trader works on the floor at the closing bell of the New York Stock Exchange, December 30, 2019.
Bryan R Smith | Reuters

U.S. stock futures were pointing to a steady Wall Street open Tuesday after the Dow Jones Industrial Average closed erased an over 200-point decline early Monday to close about 69 points higher. Monday's gains were in contrast to Friday's sharp decline. The Dow had its worst trading day in a month Friday, the day after President Donald Trump approved a U.S. airstrike in Baghdad that killed top Iranian Gen. Qasem Soleimani. On Tuesday, a stampede in Soleimani's hometown of Kerman as his funeral procession was getting underway killed 32 people and injured 190 others.

2. ISM nonmanufacturing to give read on services sector

New data on the U.S. services sector is out at 10 a.m. ET. The Institute for Supply Management releases its economic index for nonmanufacturing businesses. The December numbers give investors a look at key service industries that have been the drivers of the American economy in recent months as manufacturing activity has slowed due to the U.S.-China trade war.

3. Tesla to open at all-time high as it bets on China

Elon Musk, chief executive officer of Tesla Inc., speaks during a ceremony at the company's Gigafactory in Shanghai, China, on Tuesday, Jan. 7, 2020.
Qilai Shen | Bloomberg | Getty Images

Tesla was up about 2% in premarket trading; such gains at Tuesday's open would put shares at all-time highs. The stock market value of the electric auto maker has already topped $81 billion. On Tuesday, Tesla began delivering its Model 3 cars made at its Shanghai factory to Chinese consumers. CEO Elon Musk said at the event that Tesla will open a design and engineering center in China.

4. Facebook to remove deepfakes but not Pelosi video

Facebook will remove so-called deepfakes, videos that have been manipulated using artificial intelligence to merge, replace or superimpose content meant to appear authentic. However, Facebook said, "This policy does not extend to content that is parody or satire, or video that has been edited solely to omit or change the order of words." The social media giant told Reuters the new policy won't result in the removable of the heavily edited video that attempted to make House Speaker Nancy Pelosi seem incoherent.

5. Goldman Sachs reorganizes its business units

David Solomon, chief executive officer of Goldman Sachs Group
Tiffany Hagler-Geard | Bloomberg | Getty Images

Goldman Sachs is reorganizing its businesses to more closely resemble its Wall Street peers and give its nascent retail banking operations its own category. The bank is now calling its four main segments global markets, investment banking, asset management, and consumer and wealth management, Goldman said in a filing early Tuesday. Previously, the divisions were called institutional client services, investment banking, investment management, and investing and lending.

— Reuters and The Associated Press contributed to this report.

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