Wall Street set for higher open after US government avoids shutdown

  • U.S. equity futures pointed to a higher open after the U.S. government avoided a shutdown.
  • Investors also braced for another big week of earnings. Among the companies reporting this week were energy giant BP, Apple, Mondelez, Tesla, Yum Brands and Facebook.

U.S. equity futures pointed to a higher open on Monday after the U.S. government avoided a shutdown.

Lawmakers reached a deal Sunday to keep the government funded for the next five months, aides to senior members of Congress told NBC News.

The full House and Senate must still approve the bipartisan pact, which would be the first major legislation to clear Congress since Donald Trump became president on Jan. 20.

Prompt passage of the legislation is expected this week.

Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York.
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Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York.

Investors also awaited for another big week of earnings. Among the companies reporting this week were energy giant BP, Apple, Mondelez, Tesla, Yum Brands and Facebook.

This earnings season has been strong thus far, with more than 75 percent of companies beating profit estimates and about 70 percent topping sales forecasts as of Friday morning, according to data from The Earnings Scout.

Investors were also on the lookout for several key economic data due Monday. Personal income rose 0.2 percent in March, slightly below estimates, while consumer spending remained flat for the month.

The ISM manufacturing index April print and construction spending numbers for March are also due at 10 a.m.

—Reuters contributed to this report.