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US STOCKS-Futures flat as Trump tax plan offers little cheer

* Futures up: Dow 19 pts, S&P 1.25 pts, Nasdaq 6.75 pts

By Yashaswini Swamynathan

April 27 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, Amazon.com and Google parent Alphabet 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 slipped 4.5 percent to $54.40 in premarket trading after the company reported a significant drop in quarterly profit.

* Alexion Pharmaceuticals edged up 3.3 percent to $124.70 after reporting better-than-expected quarterly revenue.

* Defense contractor Raytheon rose 1.7 percent following a rise in quarterly revenue.

* Under Armour 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 were up 19 points, or 0.09 percent, with 15,459 contracts changing hands.

* S&P 500 e-minis were up 1.25 points, or 0.05 percent, with 80,564 contracts traded.

* Nasdaq 100 e-minis were up 6.75 points, or 0.12 percent, on volume of 14,929 contracts. (Reporting by Yashaswini Swamynathan in Bengaluru)

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