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Wall Street set for a higher open to kick off the week

A trader on the floor of the New York Stock Exchange
Victor J. Blue | Bloomberg | Getty Images
A trader on the floor of the New York Stock Exchange

U.S. stock index futures pointed to a flat-to-higher open on Monday, as investors look to the U.S. political sphere for cues on how to trade.

Futures for the Dow Jones industrial average implied a gain of 28.5 points for the index at the open, while S&P 500 and Nasdaq futures indicated the indexes would rise 2.5 points and 2.94 points, respectively.

Last Friday, U.S. stocks closed off their session lows following news that one of President Donald Trump's top advisors Steve Bannon had departed from his role at the White House.

It has since been announced that Bannon is going back to work for right-wing media outlet Breitbart News, a move which Trump applauded on Twitter over the weekend.

Meanwhile, billionaire investor Carl Icahn has resigned in recent days from his position as special advisor on regulation to President Trump.

With the recent shakeup in the administration and political turmoil continuing to weigh on sentiment, investors remain on edge when it comes to the future of President Trump's economic agenda.

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On the commodities front, oil prices came under slight pressure on Monday, as rising U.S. output weighed on sentiment. At 7:37 a.m. ET, U.S. crude hovered around $48.64 per barrel, while Brent stood at $52.70.

Overseas, European bourses traded mostly lower in morning trade, while stocks in Asia finished relatively mixed.