UKX FTSE 100 Index

By Barbara Kollmeyer, MarketWatch

Durable goods, Markit PMI survey ahead

U.S. stocks looked set to push higher Friday, but were still on track for their worst weekly performance in months, as concerns grew that President Donald Trump's ability to push through his reforms could be waning.

Dow Jones Industrial Average futures rose 37 points, or 0.2%, to 20,626 on Friday, while S&P 500 futures added 3.25 points to 2,343.25. Nasdaq-100 futures gained 10.5 points, or 0.2%, to 5,365.

Voting on a key health care bill, meant to replace the Affordable Care Act, is scheduled for Friday. It was postponed from Thursday night after its Republican backers failed to win over the bill's opponents within their own party.

"Market participants may begin to doubt whether Trump will be able to deliver the tax numbers he has pledged, considering that repealing the health care act is one of the conditions for making that feasible," IronFX analysts Marios Hadjikyriacos and Charalambos Pissouros told clients in a note.

Read:Here's what the health-care vote means for financial markets (http://www.marketwatch.com/story/what-traders-are-watching-as-health-care-vote-looms-2017-03-23)

The DJIA logged a moderate, but sixth-straight decline on Thursday (http://www.marketwatch.com/story/wall-street-stocks-lined-up-for-cautious-moves-ahead-of-yellen-speech-health-care-vote-2017-03-23) after House Republican leaders delayed the health care vote. The index is now in its longest-running losing streak since Nov. 4. The S&P 500 and Nasdaq Composite indexes also finished the day with moderate losses.

As of Thursday's close, the S&P 500 and Dow industrials were facing their worst weekly losses -- 1.36% and 1.2%, respectively -- since the week of Nov. 4. The Nasdaq Composite has logged a 1.4% decline so far, setting it up for the worst loss since the week of Dec. 30.

But stock futures are clinging onto small gains at the open, which some analysts are crediting to Trump playing hardball on the health care vote.

"In a shock-and-awe move, at least for us, President Trump raised the stakes by declaring that should the bill get voted down today, he is prepared to leave Obamacare in place and move on to tax reform," Hadjikyriacos and Pissouros said.

Read:Trump's ultimatum -- pass health bill now or live with Obamacare (http://www.marketwatch.com/story/trump-ultimatum-pass-health-bill-now-or-live-with-obamacare-2017-03-23)

The analysts said this sends a positive message to markets that tax reform is a priority for the administration, and that it is ready to move on quickly with that.

Economic data may provide a distraction for markets, with a reading on durable-goods orders due ahead of the open.

"By all accounts, that health care vote in Congress will be the bigger driver of sentiment today, but any notable shortfall here could knock confidence in U.S. equity indices," Tony Cross, market analyst for TopTradr, told clients in a note.

Economic docket: A reading on durable goods orders for February is due at 8:30 a.m. Eastern Time, as is an update on core capital equipment orders for the same month.

Markit's preliminary readings on its manufacturing and services purchasing managers' indexes for March are expected to come at 9:45 a.m. Eastern.

As for Federal Reserve speakers, St. Louis Fed President James Bullard will give a speech on economy and monetary policy at the Economic Club of Memphis at 9:05 a.m. Eastern. New York Fed President William Dudley will speak at a fireside chat at the York College, City University of New York with questions from the audience starting at 10 a.m. Eastern Time.

Late Thursday, Dallas Federal Reserve President Robert Kaplan said (http://www.marketwatch.com/story/feds-kaplan-wants-gradual-rate-hikes-but-doesnt-expect-pause-in-policy-track-2017-03-23) he wants a "gradual and patient" approach to raising interest rates this year but that that doesn't necessarily include a "pause" in the Fed's rate-tightening policy.

Stocks to watch: Shares of Micron Technology Inc.(MU) jumped 12% in premarket after guidance for the current quarter blew past analysts estimates late Thursday.

Read:Micron profits from memory shortage, expects party to continue (http://www.marketwatch.com/story/micron-profits-from-memory-price-spike-expects-party-to-continue-2017-03-23)

GamesStop Corp.(GME) shares took a hit late Thursday after the videogame retail chain said it would close at least 150 stores (http://www.marketwatch.com/story/gamestop-to-shut-at-least-150-stores-shares-sink-2017-03-23).

SeaWorld Entertainment Inc.(SEAS) said Friday it will sell a 21% stake held by affiliates of Blackstone Group L.P (http://www.marketwatch.com/story/blackstone-to-sell-its-seaworld-stake-to-chinas-zhonghong-at-a-33-premium-to-market-prices-2017-03-24).(BX) to a unit of China's Zhonghong Zhuoye Group Co. Ltd. for $23 a share, a 33% premium to Thursday's closing price of $17.31.

Other markets: Several Asian stock markets (http://www.marketwatch.com/story/asia-pacific-markets-pick-up-speed-despite-delay-on-us-health-care-bill-2017-03-23) gained amid cautious optimism ahead of the final health care vote. European stock markets were sagging, with the FTSE 100 set for the worst week since January.

The dollar firmed up against the yen, but eased against the euro. The shared European currency jumped after eurozone flash PMIs beat forecasts. Oil prices rose, while gold eased.

(END) Dow Jones Newswires

March 24, 2017 07:16 ET (11:16 GMT)

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