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US futures post gains as investors await tax vote

  • Markets have been rising recently on hopes that the tax plan would be passed by Christmas
Traders work on the floor of the New York Stock Exchange (NYSE) ahead of the closing bell, November 30, 2017 in New York City.
Drew Angerer | Getty Images News | Getty Images
Traders work on the floor of the New York Stock Exchange (NYSE) ahead of the closing bell, November 30, 2017 in New York City.

U.S. stock index futures are set for a positive open Tuesday, as investors get ready for a vote on a bill that would slash taxes for corporations.

Dow Jones industrial average futures rose 49 points, while S&P 500 and Nasdaq 100 futures gained 3 points and 1.5 points, respectively.

Futures rose on Tuesday on the back of a strong performance seen during the previous session. On Monday, stocks closed at all-time highs with the Nasdaq composite briefly hitting 7,000 for the first time during the session.

Meantime, the Dow Jones industrial average jumped 140 points by the close, marking its 70th record finish of 2017. Consequently, the positive sentiment seen Stateside provided a slight boost for markets overseas.

Markets have been rising recently on the back of hopes that the U.S. tax plan would be passed by Christmas. A vote by Congress is expected to occur as soon as Tuesday, with the tax overhaul hoping to slash the federal corporate tax rate from 35 percent to 21 percent.

While tax reform is expected to take a lot of the focus on Tuesday, data and earnings are also expected to move some sentiment during the session.

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In data news, all the major economic figures are expected to be released at 8:30 a.m. ET, which is set to include housing starts, building permits and the current account data.

Looking to the U.S. Federal Reserve, Minneapolis Fed President Neel Kashkari is set to make an appearance at the Lambda Alpha International's Minnesota Chapter event in Roseville, Minnesota.

—CNBC's Fred Imbert contributed to this report