US STOCKS-Futures slightly lower as banks cut oil price forecasts

* Futures slightly lower: Dow down 8 pts, S&P 1.75 pts,
Nasdaq 3.5 pts

By Ankur Banerjee

July 11 (Reuters) – U.S. stock index futures were slightly
lower on Tuesday ahead of comments from Federal Reserve
policymakers as several banks cut their oil price forecasts amid
global oversupply.

* U.S. stocks edged higher on Monday, led by gains in
technology stocks as investors were optimistic ahead of
earnings.

*BNP Paribas slashed its forecasts for Brent by $9 to $51 a
barrel for 2017 and by $15 to $48 for 2018. Barclays bank also
cut its 2017 and 2018 Brent forecasts to $52 a barrel.

* Crude prices are about 18 percent below their 2017 opening
levels despite a deal led by the Organization of the Petroleum
Exporting Countries to cut production from January.

* Investors will be looking at second-quarter earnings
reports on Friday from big U.S. banks including JPMorgan Chase
, Wells Fargo and Citigroup.

* The dollar hit a four-month high against the yen and bonds
and top emerging market currencies were back under pressure on
Tuesday, on bets for higher interest rates in a small but
growing group of major economies.

* The U.S. Labor Department is expected to issue its Job
Openings and Labor Turnover Survey for May that is expected to
show a lower reading of 5.950 million job openings from 6.044
million in April. The data is due at 10:00 a.m. ET

* The Federal Reserve Board Governor Lael Brainard will
speak on monetary policy before a conference hosted by the
Federal Reserve Bank of New York.

* The Federal Reserve Bank of Minneapolis President Neel
Kashkari will participate in a Town Hall question-and-answer
session moderated by Bremer Bank CEO Jeanne Crain in
Minneapolis, Minnesota.

* Fed Reserve Chair Janet Yellen’s semi-annual testimony is
the key highlight of this week for investors looking for cues on
further rate hikes. She will testify on Wednesday and Thursday.

* A gauge of U.S. small-business confidence fell in June as
business owners expressed frustration over gridlock in
Washington, according to a National Federation of Independent
Business report released on Tuesday.

* Shares of Arena Pharmaceuticals Inc soar 37
percent after drug developer said on Monday its experimental
drug a rare but deadly lung disease met the main goal in a
mid-stage study.

*

Futures snapshot at 6:50 a.m. EDT:

* Dow e-minis were down 8 points, or 0.04 percent,
with 14,431 contracts changing hands.

* S&P 500 e-minis were down 1.75 points, or 0.07
percent, with 86,505 contracts traded.

* Nasdaq 100 e-minis were down 3.5 points, or 0.06
percent, on volume of 16,949 contracts.
(Reporting by Ankur Banerjee in Bengaluru; Editing by Arun
Koyyur)