* Futures off: Dow 7 pts, S&P 2 pts, Nasdaq 2 pts
By Tanya Agrawal
Aug 17 (Reuters) - U.S. stock index futures were little changed on Monday as investors took to the sidelines after a choppy week during which the Chinese yuan fall more than 4 percent.
* Energy stocks could come under pressure as oil prices fell towards six-year lows after data showed Japan’s economy contracted and U.S. producers added drilling rigs for a fourth straight week despite a recent rout in prices.
* With the U.S. earnings season at the flag end and no major economic data due, investors will turn to Wednesday’s minutes of the most recent Federal Reserve meeting for indications on how the U.S. central bank will react to the recent yuan devaluation and the further decline in oil prices.
* The dollar index was up 0.3 percent at $96.79 and has been mostly higher on hopes that the Fed is readying to raise rates at its mid-September meeting.
* U.S. stocks ended a volatile week higher on Friday after upbeat U.S. economic data and as euro zone finance ministers agreed to launch a third bailout program for Greece.
* Data expected on Monday includes the NAHB/ Wells Fargo Housing Market index, which is expected to show an increase to 61 from 60 in July, which was the highest since November 2005. The data is expected at 10 a.m. ET (1400 GMT).
* The New York Federal Reserve releases its Empire State general business conditions index for August at 8:30 a.m. ET.
* With 92 percent of the S&P 500 companies having reported so far, second-quarter earnings are expected to have edge up 1.2 percent, while revenue is expected to have fallen 3.5 percent, according to Thomson Reuters data.
* Tesla Motors shares were up 5.1 percent at $255.52 in premarket trading after Morgan Stanley raised its price target on the stock to $465 from $280.
* J.C. Penney was up 3.3 percent at $8.80 after B. Riley started coverage on the stock with a “buy” rating.
* Companies scheduled to report after the close of market include Urban Outfitters and Agilent Technologies .
Futures snapshot at 7:19 a.m. ET:
* S&P 500 e-minis were down 2 points, or 0.1 percent, with 114,357 contracts traded.
* Nasdaq 100 e-minis were down 2 points, or 0.04 percent, on volume of 18,096 contracts.
* Dow e-minis were down 7 points, or 0.04 percent, with 15,682 contracts changing hands. (Reporting by Tanya Agrawal in Bengaluru; Editing by Savio D‘Souza)