* White House says to lead efforts on tax reforms
* Fed Chair Janet Yellen to speak later in the day
* Tesla up after China's Tencent takes 5 pct passive stake
* Futures down: Dow 27 pts, S&P 3.25 opts, Nasdaq 5.75 pts
(Adds details, comments, updates prices)
By Yashaswini Swamynathan
March 28 U.S. stocks looked set to open slightly
lower on Tuesday as investors assessed President Donald Trump's
first major policy stumble, while awaiting comments from several
Federal Reserve officials, including Fed Chair Janet Yellen.
Volatility spiked, while demand for risk assets fell after
Republicans were forced to withdraw a bill to reform the
American healthcare system on Friday.
However, stocks pared most of their losses to end slightly
lower on Monday as investors focused on Trump's promise to lower
taxes - a key driver of the record-setting rally on Wall Street
after the November election.
The White House said late Monday it would take a lead role
in crafting legislation to reform the U.S. tax code, with an
August target date.
"Yesterday's move was actually quite a small unwind and was
quickly opposed and it tells me that investor sentiment hasn't
been unduly damaged by the failure of that legislation," said
James Athey, Investment Manager at Aberdeen Asset Management.
"We would see this volatility to be normal and healthy and
not something to be overly concerned about at this stage."
Investors are eyeing Federal Reserve Chair Janet Yellen's
speech at a conference in Washington later in the day, where she
could provide some insight into the timing of the central bank's
next interest rate hike.
Other Fed officials scheduled to speak at separate events
include Fed Board Governor Jerome Powell, Dallas Fed President
Robert Kaplan and his Kansas City counterpart, Esther George.
Dow e-minis were down 27 points, or 0.13 percent,
with 21,077 contracts changing hands.
S&P 500 e-minis were down 3.25 points, or 0.14
percent, with 128,985 contracts traded.
Nasdaq 100 e-minis were down 5.75 points, or 0.11
percent, on volume of 23,278 contracts.
The Conference Board will issue a report, which is likely to
show consumer confidence at 114.0 in March, slightly below 114.8
in February. The data is due at 10:00 a.m. ET (1600 GMT).
Shares of Tesla rose 2.1 percent to $275.86 in
premarket trading after the maker of electric cars said Chinese
technology giant Tencent Holdings had paid $1.78
billion for a 5 percent passive stake in the company.
Ford rose 0.8 percent to $11.55 after Trump tweeted
that the U.S. automaker would make a major announcement
regarding three plants in Michigan.
Red Hat was up 4.7 percent at $86.10 after the Linux
operating system distributor reported quarterly revenue that
beat analysts' expectations.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by