(Reuters) – U.S. stock index futures were flat on Thursday as President Donald Trump’s highly anticipated proposal to reform the tax code failed to impress investors.
* The one-page plan, unveiled on Wednesday, proposed deep U.S. tax cuts for many businesses, but offered no detail on how it would be paid for without increasing the deficit.
* U.S. stocks retreated from near record-highs on Wednesday and closed lower after the plan was unveiled.
* Trump has been scrambling to show progress on his agenda, especially after the failure to pass a healthcare bill raised doubts about his ability to deliver on campaign promises.
* While the tax plan dampened market enthusiasm, a flurry of corporate earnings reports and economic data could provide investors some impetus to trade.
* Microsoft (O:MSFT), Amazon.com (O:AMZN) and Google parent Alphabet (O:GOOGL) are scheduled to report results after the bell.
* Weekly jobless claims data and a report on durable goods are expected at 8:30 a.m. ET (1230 GMT).
* Shares of Southwest Airlines (N:LUV) slipped 4.5 percent to $54.40 in premarket trading after the company reported a significant drop in quarterly profit.
* Alexion Pharmaceuticals (O:ALXN) edged up 3.3 percent to $124.70 after reporting better-than-expected quarterly revenue.
* Defense contractor Raytheon (N:RTN) rose 1.7 percent following a rise in quarterly revenue.
* Under Armour (N:UAA) jumped 6.5 percent after the sportswear maker posted a smaller-than-expected quarterly loss.
Futures snapshot at 7:02 a.m. ET:
* Dow e-minis (1YMc1) were up 19 points, or 0.09 percent, with 15,459 contracts changing hands.
* S&P 500 e-minis (ESc1) were up 1.25 points, or 0.05 percent, with 80,564 contracts traded.
* Nasdaq 100 e-minis (NQc1) were up 6.75 points, or 0.12 percent, on volume of 14,929 contracts.[:]