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US politics, Fed speeches and oil on the agenda for Wall Street

U.S. stock index futures pointed to a slightly higher open on Monday as President Donald Trump tours the Middle East on his first foreign trip.

Dow futures traded 11 points higher, while S&P and Nasdaq futures gained 0.25 points and 4.25 points, respectively.

President Trump began his trip in Saudi Arabia over the weekend and delivered a speech in Israel in an attempt to reinvigorate the stalled Israeli-Palestinian peace process. Trump will then fly to Italy, the Vatican and Belgium during his time abroad.

A trader works on the floor of the New York Stock Exchange (NYSE).
Michael Nagle | Bloomberg | Getty Images
A trader works on the floor of the New York Stock Exchange (NYSE).

In earnings news, Booz Allen Hamilton posted results before the bell, while Agilent and Nordson are also expected to report.

No major data is expected to be released on Monday.

In the central bank sphere, a number of U.S. Federal Reserve members are expected to speak on Monday. Minneapolis Fed President Neel Kashkari is set to speak at the Opportunity & Inclusive Growth Institute Conference, with Fed Governor Lael Brainard also set to deliver remarks.

Elsewhere, Philadelphia Fed President Patrick Harker will be in Philadelphia where he will be commenting on the "link between physical and economic well-being" at the Jefferson College of Health Professions and Jefferson College of Pharmacy Commencement Ceremony.

In commodities news, oil prices are front and center this week as members of the Organization of the Petroleum Exporting Countries are set to meet to discuss compliance and the state of the oil market.

On Monday, oil prices were trading higher, with U.S. crude trading higher at $51.06 around 8:10 a.m. ET, while Brent stood at $54.34 per barrel.

In Europe, bourses traded flat Monday, while Asia-Pacific markets finished trade on a positive note.

On Friday, U.S. equities finished higher — with the Dow closing up more than 100 points — as concerns about Trump's presidency showed signs of retreating.

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