×

US futures tread water as Senate gets set to vote on tax reform bill this week

U.S. stock index futures pointed to a flat open Monday, as investors looked ahead to a key vote on tax reform.

Dow Jones industrial average futures rose just 3 points, while S&P 500 were unchanged and Nasdaq 100 futures slipped 4.75 points.

The Senate is expected to vote on a bill aimed at reforming the U.S. tax code on Thursday. Investors have been eagerly awaiting tax reform since last year's election, but doubts about whether the Republican-led Congress would be able to achieve this before year-end have lingered.

President Donald Trump stated last week that his administration was going to "give the American people a huge tax cut for Christmas," according to the Associated Press.

On the data front, new home sales figures are expected to be released at 10 a.m. ET, followed by the Dallas Fed's Texas manufacturing outlook survey at 10:30 a.m. ET.

Spencer Platt | Getty Images | Getty Images News

On the central bank front, two speeches by the U.S. Federal Reserve are set to take place Monday. Minneapolis Fed President Neel Kashkari will be delivering remarks at Winona State University in Winona, Minnesota.

New York Fed President William Dudley is expected to be at a moderated conversation called "U.S. Economy: 10 Years After the Crisis," organized by the University of California, Berkeley, in New York. Investors will be watching each discussion closely for any comments about the state of the U.S. economy.

On Friday, equities in the U.S. rose by the close, as investors placed bets on a strong holiday shopping season.

Consequently, investors are likely to be paying close attention to how certain retailers perform today as the Cyber Monday shopping spree commences.

Vote
Vote to see results
Total Votes:

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

Looking to markets in other regions, trade in Europe posted minor gains in early trade Monday, while markets in Asia finished the session mostly lower.