US pre-open: Stocks seen muted ahead of healthcare bill vote
US futures suggested a muted open on Wall Street on Friday, as investors looked ahead to a key vote on a healthcare bill that was postponed in the previous session.
At 1120 GMT, Dow Jones Industrial Average, S&P 500 and Nasdaq futures were all up 0.1%.
Meanwhile, oil prices edged higher on news that Saudi Arabia plans to cut crude exports to the US next month. West Texas Intermediate was up 0.4% to $47.91 a barrel and Brent crude was 0.3% higher at $50.73.
On Thursday, the US congressional vote on the repeal of Obama’s Affordable Care Act was delayed by 24hrs, adding to concerns that Donald Trump lacks enough house support and may struggle to get approval for all the stimulus policies he has promised.
Oanda's Craig Erlam said: "Financial markets are in wait and see mode on Friday although there is an underlying sense of optimism, after Donald Trump dug in his heels on the revised healthcare plan and declared Congress should accept the changes or live with Obamacare, paving the way for government to refocus its attention on tax reform.
"With the vote looking very close right now, Trump has taken quite a big gamble because an inability to pass the new healthcare bill through a Republican controlled Congress when most are in agreement that Obamacare should be scrapped, will cast doubts on what other promises he will be unable to deliver on."
As well as the vote, investors will be focusing on more Fed speak, with speeches due from officials William Dudley, Charles Evans and James Bullard.
Erlam said: "Ultimately, policy makers still appear to see two more rate hikes this year, something the markets are in danger of under-pricing after the correction over the last week. It will be interesting to see whether today’s speakers continue to tread carefully when asked about the rate outlook."
In corporate news, Micron Technology surged in pre-market trade after the company's guidance for the current quarter surpassed analysts' expectations.
Shares in videogame retailer GameStop Corp went the other way, however, tumbling 11% in pre-market trade after it announced plans to close at least 150 stores.
On the data front, durable goods orders are due at 1230 GMT, while Markit's manufacturing purchasing managers' index is at 1345 GMT.