At 10 a.m. ET, consumer confidence and the Richmond Fed survey of manufacturing activity are due out, which will then be followed by the Dallas Fed's Texas services sector outlook survey at 10:30 a.m. ET.
On the earnings front, Momo, Autodesk and Pure Storage are some of the companies set to publish their latest financial figures.
Looking to the U.S. central bank, two speeches by the U.S. Federal Reserve are set to take place. New York Fed President William Dudley is expected to be in New York at the third annual conference on evolving structure of the U.S. Treasury market.
And Philadelphia Fed President Patrick Harker is set to appear at the Philadelphia Fed conference on elderly financial health.
The Senate is due to vote on a bill aimed at reforming the U.S. tax code on Thursday. Investors have been eagerly awaiting tax reform since the election in 2016, yet doubts over whether the Republican-led Congress could achieve this before the year is out continues to weigh on sentiment.
If the Senate bill is approved, then a joint bill with the House would have to be created. The House passed a bill on a few weeks back to cut taxes on businesses and individuals, but it differs from the Senate bill in some key areas.