5 things to know before the stock market opens Tuesday

U.S. stock futures were pointing to a steady Wall Street open on Tuesday after the Dow Jones Industrial Average, S&P 500 and Nasdaq closed at record highs on Monday. They're all heading into the new trading day on four-session winning streaks. In a sign pointing to more gains in the market, a net 7% of NYSE and Nasdaq stocks made new 52-week highs last week, according to Sentiment Trader. That's the most in six months. However, adding pressure on European stocks, the pound dropped about 1% against the dollar Tuesday morning after local media reported that the British government, emboldened by the Conservative Party's huge election victory last week, will make it illegal for the post-Brexit transition period to be extended. That would leave little time for the U.K. to reach a trade deal with the European Union.

Shares of Boeing were just over 1% lower in the premarket after falling about 4.3% as the aircraft maker confirmed that it will suspend 737 Max production next month. However, Boeing will still burn more than $1 billion per month even after the production halt, according to J.P. Morgan analysis. Last week, FAA chief Steve Dickson told CNBC the recertification process for the grounded planes will "extend into 2020." In mid-March, after the second of two deadly crashes of 737 Max jets that happened five months apart, regulators around the world took the fleet out of service. On Tuesday, Southwest Airlines joined American Airlines in cancelling thousands of Boeing 737 Max flights through early April. Southwest, the largest Max customer in the U.S., said its decision to cancel more flights had been in the works prior to Boeing's production suspension plans announcement on Monday.

FedEx is set to report its fiscal second quarter earnings after the bell on Tuesday. The stock, as of Monday's close, was up 1.7% for the year compared to the S&P 500's 27% advance in 2019. Wells Fargo is forecasting a per-share profit of $2.83 on revenue of $17.76 billion. In the same quarter last year, FedEx reported earnings of $4.03 per share on revenue of $17.82 billion. Shares of the package deliver giant have struggled since making new 52-week highs back in April. FedEx in September missed estimates on earnings in its fiscal first quarter and lowered 2020 guidance. The company blamed, at the time, the U.S.-China trade war and the loss of Amazon as a customer. On Monday, FedEx confirmed that Amazon is no longer allowing third-party sellers to use FedEx's ground-delivery shipping.

As the streaming wars heat up, with new entrants Apple TV+ and Diseny+, Netflix is accelerating its growth overseas. The company's Asia-Pacific business is recording the biggest membership and revenue gains among all regions over the past three years. In a government filing Monday, Netflix provided details on its international business ahead of its January fourth-quarter earnings report, which will disclose revenue and membership by region for the first time. Shares of Roku, which have been weathering the streaming wars and then some, were under pressure in the premarket after the company's said that its CFO will be stepping down after a successor is found. Roku stock, as of Monday's close, was up a whopping 350% in 2019.

Shares of Unilever were tracking for a 7% drop at Monday's open on Wall Street. The London-based consumer goods giant said Tuesday that it expects sales growth in 2019 to be slightly below its prior expectations, blaming a slowdown in South Asia and weakness in North America. The Ben & Jerry's ice cream and Dove soap maker said that despite early signs of improving performance in North America, its biggest market, a full recovery would still take time. Developed economies have been a drag for Unilever for several quarters, where growing numbers of consumers are turning to fresher foods, niche brands or cutting back on spending. The stock, as of Monday's close, was up just 6.5% for the year.