US pre-open: Stocks seen muted as investors pause for breath
US futures pointed to a muted open on Wall Street, with investors likely to pause for breath after recent gains as they look to a speech by President Donald Trump on Tuesday.
At 1130 GMT, Dow Jones Industrial Average and S&P 500 futures were flat, while Nasdaq futures were down 0.1%.
On Friday, stocks rebounded from early losses to close in the black, with the Dow adding 77 points in the final hour of trading, notching up its 11th consecutive day of gains thanks to a strong showing by retailers.
Oil prices advanced on Monday, with West Texas Intermediate up 0.6% to $54.30 a barrel and Brent crude 0.8% higher at $56.42.
In currency markets, the dollar was 0.4% firmer versus the pound, which was hit by reports of a second referendum for Scotland, 0.2% lower against the euro and 0.1% higher than the yen.
Market participants will be turning their attention to Trump, who is due to address Congress on Tuesday evening amid hopes he will shed some light on his plans to reform the tax code and healthcare system.
ADS Securities researcher Konstantinos Anthis said: "Looking at the session ahead, the release of US Durable Goods Orders data will attract investors' attention, with expectations of strong improvement following last month's bearish reading. Consumer demand is key for the Fed so the report will be closely monitored by traders and analysts alike."
He added: "President Trump's appearance before Congress tomorrow should shed more light on how bullish he is over his reforms schedule moving forward; it is worth noting that Treasury Secretary Mnuchin attempted to manage expectations last week."
In corporate news, Sotheby’s is due to report earnings before the bell, while numbers are due from Hertz Global Holdings after the close.
Elsewhere, Warren Buffett's Berkshire Hathaway could be in focus after it reported a 15% jump in fourth-quarter profit.
On the macroeconomic front, durable goods orders are at 1330 GMT, while pending home sales are due at 1500 GMT.