While politics is expected to move sentiment somewhat on Friday, data is expected to be at the front and center of investors' minds.
Sales of new U.S. single-family homes rose unexpectedly in November to levels unseen in over a decade. Sales jumped 17.5 percent to a seasonally adjusted 733,000 units, the highest rate since July 2007. The swell is sales indicates that the housing market may be stabilizing after a lackluster start in 2017.
On Wednesday, a major hurdle surrounding overhauling the U.S. tax code was conquered after House Republicans voted to approve tax reform, consequently meaning that the legislation can be sent to President Donald Trump's desk by Christmas.
The news boosted markets in the United States Thursday, as well as announcements that some U.S. companies would spend the tax bill savings on higher wages and new construction.
Meantime, the House of Representatives voted Thursday to advance a short-term spending bill, in order to fund the U.S. government through until the middle of January.