US Markets

Futures point to a weak open on Wall Street, as earnings and data loom

Key Points
  • On Friday, the U.S. Treasury Secretary told CNBC that he foresaw a Republican tax reform bill to be sent to President Donald Trump by Christmas
  • Crude prices were under slight pressure on Monday
A pedestrian holds an umbrella while walking past the New York Stock Exchange.
Michael Nagle | Bloomberg | Getty Images

U.S. stock index futures pointed to a slightly lower open Monday, as investors turned their attention to the latest in earnings and data.

Dow Jones industrial average futures fell 5 points, while S&P 500 futures declined 1.25 points.

Looking to markets in other regions, trade in Europe fluctuated as investors eyed political instability in Germany. Meanwhile, markets in Asia ended relatively mixed, following the decline seen in the U.S. on Friday.

In the previous trading session, U.S. equities finished in negative territory, as concerns surrounding tax reform in the country continued to weigh on sentiment.

The Dow Jones industrial average declined 100 points by the close on Friday. Investors have remained on edge as of late, as news surrounding tax reform continues to shake up markets Stateside.

On Friday, the U.S. Treasury Secretary Steven Mnuchin told CNBC that he foresaw a Republican tax reform bill to be sent to President Donald Trump by the end of 2017.

Comments by Mnuchin were made a day after House Republicans passed a bill, that aims to overhaul the tax code. Concerns however still linger on Wall Street, as to whether a deal will come about and be finalized by the end of the year.

Switching focus to Monday, data and earnings will remain at the forefront of investors' minds, as a number of financial releases are set to be published.

In earnings, Agilent, Intuit, ZTO Express, Noah Holdings and Urban Outfitters are some of the companies set to publish their latest figures.

Looking to data, leading economic indicators are due out at 10 a.m. ET, while the U.S Treasury is set to auction off two separate bills.

After the turbulence seen in oil last week, crude prices were under pressure on Monday, with Brent trading around $61.89 and U.S. WTI hitting $56.16 per barrel at 7:18 a.m. ET.