1. Auto sector shines: Top global automakers are going to be in the headlines throughout the day as they make announcements at the Detroit auto show.
General Motors CEO Mary Barra will be presenting details on her expectations for the company and sector.
The industry has been put on the defensive by president-elect Donald Trump, who has threatened GM, Ford and Toyota with tariffs on cars imported from Mexico.
2. Pound slumps: The British pound dropped to around $1.21 as traders worry about prospects for post-Brexit Britain.
The falling pound — down about 19% versus the dollar since the Brexit referendum — has helped boost the FTSE 100 index in London. It hit an all-time high in early Tuesday trading.
3. Stocks to watch — Yahoo, Tesco: Shares in Yahoo could be on the move Tuesday after the company announced that CEO Marissa Mayer will step down from Yahoo’s board of directors if its sale to Verizon goes through.
Shares in British grocery chain Tesco are surging in London after the company announced plans to cut about 1,000 jobs and close two distribution centers. It plans to increase hiring at other distribution centers.
4. Global market overview: Global stock markets have been rallying for weeks but now look rather uninspired.
U.S. stock futures are holding steady.
European markets are mostly dipping in early trading. Asian markets ended the day with mixed results.
This comes after the Nasdaq hit an all-time high on Monday, while the Dow Jones industrial average and S&P 500 each slipped 0.4%.
5. Coming this week:
Tuesday – Obama delivers farewell address
Wednesday – Trump scheduled to give press conference; Tillerson confirmation hearing
Thursday – Delta earnings
Friday – Bank of America, JPMorgan Chase and Wells Fargo report earnings