March 28, 2017 / 11:32 AM / 4 months ago

US STOCKS-Futures up as investors look beyond failed healthcare bill

3 Min Read

* Futures up: Dow 5 pts, S&P 1.5 opts, Nasdaq 6.75 pts

By Yashaswini Swamynathan

March 28 (Reuters) - U.S. stock index futures edged higher on Tuesday, a day after hitting six-week lows, as investors looked beyond President Donald Trump's first major legislative stumble and focused on his promise of tax reforms.

* Questions about Trump's ability to prevail over Congress surfaced after Republicans were forced to withdraw a bill to reform the American healthcare system on Friday.

* However, losses on Wall Street were kept in check on hopes that Trump would be able to deliver on his pledge to lower taxes - a proposition that has driven a record-breaking rally on Wall Street.

* The White House late Monday said it would take a lead role in crafting legislation to reform the U.S. tax code, with an August target date.

* The dollar traded slightly higher on Tuesday, recovering from the lowest level it hit since the November presidential election on Monday, while gold prices came off their one-month high.

* The Conference Board will issue a report, which is likely to show consumer confidence at 114.0 in March, slightly below 114.8 in February. The data is due at 10:00 a.m. ET (1600 GMT).

* Federal Reserve Chair Janet Yellen speaks at a conference in Washington at 12:50 p.m. ET (1650 GMT) and could provide some insight into the timing of the central bank's next interest rate hike.

* Other Fed officials scheduled to make appearances include Fed Board Governor Jerome Powell, Dallas Fed President Robert Kaplan and his Kansas City counterpart, Esther George.

* Shares of Ford rose 0.96 percent at $11.57 in premarket trading after Trump tweeted that the U.S. automaker would make a major announcement regarding three plants in Michigan.

* Red Hat was up 4.7 percent at $86.10 in light premarket trading after the Linux operating system distributor reported quarterly revenue that beat analysts' expectations.

Futures snapshot at 6:55 a.m. ET:

* Dow e-minis were up 5 points, or 0.02 percent, with 14,865 contracts changing hands.

* S&P 500 e-minis were up 1.5 points, or 0.06 percent, with 86,272 contracts traded.

* Nasdaq 100 e-minis were up 6.75 points, or 0.13 percent, on volume of 16,802 contracts. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Anil D'Silva)

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