Futures point to a higher open on Wall Street ahead of tax bill vote

U.S. stock index futures pointed to a higher open Thursday, bouncing back from yesterday's weak trading session, ahead of a vote on tax reform.

Dow Jones industrial average futures rose 76 points, while S&P 500 and Nasdaq 100 futures gained 8.75 points and 30 points, respectively.

Markets worldwide showed signs of bouncing back after coming under pressure in the previous trading session. Not only were U.S. futures edging higher, but stocks in Europe were trading in the black, while markets in Asia finished mostly higher.

In the previous trading session, U.S. equities closed in negative territory, with the Dow Jones industrial average dropping 138.19 points by the close, with market-watchers attributing the decline to signs that the current bull market was slowing down.

Investors were looking ahead to a House vote on a tax reform bill. GOP leaders remain confident that the bill can be passed this week, despite lingering resistance seen from some Republicans.

A trader works on the floor of the New York Stock Exchange during the afternoon of October 14, 2015 in New York City.
Andrew Burton | Getty Images News | Getty Images
A trader works on the floor of the New York Stock Exchange during the afternoon of October 14, 2015 in New York City.

Wall Street also focused on a big batch of earnings, with Wal-Mart, Best Buy and Viacom all reporting quarterly results. A flood of economic data is also set to be published.

First off, jobless claims, import and export prices, the Philadelphia Fed's manufacturing survey and the business leaders' survey are all due out at 8:30 a.m. ET. At 9:15 a.m., industrial production is due, followed by the NAHB/Wells Fargo Housing Market Index, set to come out at 10 a.m. ET.

Vote
Vote to see results
Total Votes:

Not a Scientific Survey. Results may not total 100% due to rounding.

On the central bank front, a number of U.S. Federal Reserve are set to deliver remarks Thursday.

In Michigan, Governor Lael Brainard will be speaking at the Financial Stability Conference, while Dallas Fed President Robert Kaplan will be in Houston, Texas, speaking at a CFA Society Houston event.

Cleveland Fed President Loretta Mester is also set to give keynote address at Cato Institute's 35th Annual Monetary Conference: The Future of Monetary Policy, in Washington.

—CNBC's Jacob Pramuk contributed to this report