What You Need to Know Before the Market Opens

Here's what you need to know before the market opens.

Investors are adopting a defensive tone ahead of President-elect Donald Trump's first press conference since July. The president-elect is expected to provide details on his policy positions, including spending plans and policies intended to boost job growth. The press conference comes after unsupported allegations that the Kremlin supported Trump's campaign and may have tried to blackmail him.

Boeing (BA) - Get Report is set to conduct involuntary layoffs of engineers. The move is part of a cost-cutting drive by the company in response to increasing competition amid slowing aircraft sales. Boeing didn't indicate the number of planned reductions. In 2016, Boeing cut more than 10,800 jobs.

Volkswagen shares are on the rise despite emissions rigging costs. The carmaker said that it is in advance talks to settle the criminal case by paying $4.3 billion in criminal and civil fines and admitting guilt. It is a sum far larger than any recent case involving the auto industry.