On the data front, U.S. homebuilding rebounded more than expected in June after declining for three straight months.
The Commerce Department reported that housing starts jumped 8.3 percent to a seasonally adjusted annual rate of 1.22 million units, the highest level since February as both single-family and multi-family construction increased. Building permits last month shot up 7.4 percent to a 1.25 million-unit rate, the highest level since March.
Meanwhile in politics, news out of Washington D.C. is expected to keep investors on their toes, as Republicans continue to grapple with health-care difficulties.
The political party's new drive to repeal Obamacare without implementing an immediate replacement has already shown signs of struggle, after three GOP senators announced that they wouldn't support the repeal without an instant replacement.