* Futures down: Dow 123 pts, S&P 17.75 pts, Nasdaq 36.75 pts
By Yashaswini Swamynathan
March 27 U.S. stock index futures hit six-week
lows on Monday after President Donald Trump failed to push
through his healthcare bill, raising concerns about his ability
to deliver on his economic agenda.
* A Congress controlled by Trump's Republican party on
Friday pulled a bill to overhaul the Affordable Care Act or
Obamacare, in a stunning setback for the President's first major
legislative move since taking office.
* Investors took up defensive positions as the so-called
"Trumpflation trade" looked to unravel. The dollar, which had
found favor on the possibility of tax cuts and higher
infrastructure spending, hit its lowest since Nov. 11, while
prices of safe haven gold shot up to one-month highs.
* Banks, which had outperformed in the post-election rally
on bets of simpler regulations and higher inflation, were down
more than 1 percent premarket on Monday.
* Still, the drop in futures appeared to be kept in check on
Trump's comment to turn his attention to getting "big tax cuts"
* Investors will look forward to comments from Chicago
Federal Reserve President Charles Evans and his Dallas
counterpart Robert Kaplan for clues on the timing of the next
interest rate hike.
* Fed Chair Janet Yellen is scheduled to speak at a
conference on Tuesday in Washington.
* Snap Inc was up 4.7 percent at $23.80 in
premarket trading on Monday after multiple brokerages began
coverage on the owner of Snapchat after the blackout period for
its IPO underwriters ended.
* Amazon.com was off 0.96 percent at $837.50 after
Dubai's Emaar Malls made an $800 million offer for
online retailer Souq.com. Amazon has agreed in principle to buy
Souq, according to sources.
* Steel stocks, including AK Steel and United States
Steel were down about 4 percent.
Futures snapshot at 7:02 a.m. ET:
* Dow e-minis were down 123 points, or 0.6 percent,
with 36,897 contracts changing hands.
* S&P 500 e-minis were down 17.75 points, or 0.76
percent, with 202,246 contracts traded.
* Nasdaq 100 e-minis were down 36.75 points, or 0.68
percent, on volume of 37,405 contracts.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by