April 26, 2017 / 11:33 AM / a year ago

US STOCKS-Futures flat as Trump tax plan awaited

* Futures: Dow up 29 pts, S&P down 1.25 pts, Nasdaq up 1.25 pts

By Yashaswini Swamynathan

April 26 (Reuters) - U.S. stock index futures were little changed on Wednesday amid a flood of corporate earnings, while investors awaited President Donald Trump’s tax plan.

* Trump is proposing to slash the corporate income tax rate and offer multinational businesses a steep tax break on overseas profits brought into the United States, officials said late on Tuesday.

* The plan could provide a shot in the arm to the post-election rally, which has stalled in recent weeks over the lack of clarity on Trump’s pro-growth policies and the failure of a healthcare reform bill.

* A flurry of quarterly earnings could also provide fresh catalysts for trading. Shares of United Technologies, Nasdaq Inc and Northrop Grumman were up in premarket trading after the companies reported a rise in quarterly profits.

* Boeing, Amgen and PayPal are scheduled to report results on Wednesday.

* Nearly 78 percent of S&P 500 companies that have reported results until Tuesday have topped earnings expectations, according to Thomson Reuters I/B/E/S. Overall profit for the index is estimated to have risen 11.4 percent - the best since 2011.

* Wall Street is coming off its best two-day gain of the year after a favorable French election outcome and strong earnings boosted investor optimism and sparked demand for risk assets.

* The Nasdaq Composite index breached the 6,000 mark for the first time ever on Tuesday, while other indexes came within spitting distance of their peaks.

* Wynn Resorts jumped 5.7 percent to $125 after the casino operator reported better-than-expected revenue from its new casino in China’s gambling territory.

* United States Steel tumbled nearly 17 percent to $25.87 after the steelmaker’s profit and revenue missed analysts’ expectations.

* Twitter jumped 11 percent after reporting its strongest growth in monthly active users in more than a year and a quarterly profit that blew past expectations.

Futures snapshot at 6:59 a.m. ET:

* Dow e-minis were up 29 points, or 0.14 percent, with 18,754 contracts changing hands.

* S&P 500 e-minis were down 1.25 points, or 0.05 percent, with 89,250 contracts traded.

* Nasdaq 100 e-minis were up 1.25 points, or 0.02 percent, on volume of 16,068 contracts. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Anil D’Silva)

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