1. Dow to open steady, supported by rise in JP Morgan
U.S. stock futures were steady Tuesday morning, helped by a 1% premarket advance in Dow stock J.P. Morgan Chase. The banking giant, before the bell, posted quarterly earnings and revenue that beat expectations on a surge in fourth-quarter trading activity. Later, Wells Fargo's earnings fell short but Citigroup exceeded expectations. The other major earnings report was from Delta Air Lines, whose stock surged 3% in premarket trading. Delta beat with earnings and revenue, supported by lower fuel prices and strong travel demand. On Monday, Wall Street rallied with the S&P 500 and Nasdaq closing at all-time highs. The gain in the Dow Jones Industrial Average was just short of a record.
2. BlackRock CEO: Climate crisis about to trigger a 'reshaping of finance'
The chief of the world's largest money manager believes the intensifying climate crisis will bring about a significant reallocation of capital "sooner than most anticipate." BlackRock Chairman and CEO Larry Fink used his annual letter to the world's biggest companies to sound the alarm. "Climate change has become a defining factor in companies' long-term prospect,' he said. "But awareness is rapidly changing, and I believe we are on the edge of a fundamental reshaping of finance." Fink told CNBC, in an interview that ran on television Tuesday, that the financial risks of climate change are bigger than any crisis he's experienced in his career on Wall Street.
3. Schumer to Trump: Weak China trade deal could hurt US for years to come
Senate Minority Leader Chuck Schumer, in a letter on Tuesday to President Donald Trump, expressed concern that a weak trade deal that fails to address "structural inequities" in the U.S.-China relationship could harm American workers and businesses for years to come. Schumer, one of the Democrats most supportive of Trump's crackdown on China, previously accused the president of caving to Beijing with the phase one trade deal. Trump and Chinese officials are due to sign the initial trade deal Wednesday, with hopes of starting talks on the next phases this year.
4. Last Democratic presidential debate before next month's Iowa caucuses
Tuesday marks the last time the leading Democratic presidential contenders will face a national audience on the debate stage before voting contests begin, making it the most significant moment of the 2020 primary season to date. The prime-time faceoff comes just 20 days before the Iowa caucuses. Polls suggest the nomination is truly up for grabs. Heading in, there were new signs of tension among all the top-tier candidates, particularly Sens. Bernie Sanders and Elizabeth Warren.
5. Visa to buy fintech power house Plaid
Visa is buying Silicon Valley start-up Plaid in a deal worth $5.3 billion. Plaid's software, often referred to as the "plumbing" behind fintech companies, lets start-ups connect to users' bank accounts. It's well-known among financial technology developers, but the average person interacting with it most likely wouldn't recognize the name. High-profile Plaid customers include popular peer-to-peer payment app Venmo, mobile investing app Robinhood and cryptocurrency exchanges Coinbase and Gemini. Goldman Sachs, also an early investor, was the exclusive advisor on the deal, according to a person familiar with the negotiations.
— The Associated Press contributed to this report.