Investing.com - Wall Street futures pointed to a slightly lower open on Monday as investors waited for a couple of data points with markets likely to be on hold ahead of President Donald Trump’s speech to Congress a day later.
The blue-chip Dow futures fell 27 points, or 0.13%, by 6:57AM ET (11:57GMT), the S&P 500 futures slipped 1 point, or 0.06%, while the tech-heavy Nasdaq 100 futures lost 7 points, or 0.12%.
Markets showed little movement as investors looked ahead to Trump's speech to Congress on Tuesday, where he is expected to provide clues on his plans to on policy priorities and goals, especially on taxes, trade and public investment.
On Monday, the President will meet with top executives from the health insurance industry at 10:30AM ET (15:30GMT) at the White House in what would appear to be preparation for his plan to repeal and replace Obamacare.
Cigna (NYSE:CI)'s chief executive officer, David Cordani, and Humana (NYSE:HUM) CEO Bruce Broussard are among a group of industry leaders due to meet with the president. The Blue Cross Blue Shield Association, which represents insurers in every state, will also attend.
On the data front, January durable goods orders will be out at 8:30AM ET (13:30GMT) followed by pending home sales for the same month at 10:00AM ET (15:00GMT).
Dallas Federal Reserve president Robert Kaplan will also be speaking at 11:00AM ET (16:00GMT).
Meanwhile, oil prices traded higher on Monday, rising back toward an eight-week high on increasing confidence that OPEC’s supply curbs will outweigh a gain in U.S. stockpiles.
U.S. crude futures gained 0.69% to $54.36 by 6:58AM ET (11:58GMT), while Brent oil traded up 0.87% to $56.80.
Elsewhere, sterling was under pressure Monday on reports of a possible push for a fresh Scottish referendum over its independence from Britain as the U.K. moves forward with plans to leave the European Union.
The Times reported U.K. PM Theresa May's government is bracing for a new move for a vote on Scottish independence which could coincide with the triggering of the Article 50 which begins negotiations for Britain to leave.