US STOCKS-Futures rise as investors focus on Fed, shrug off oil
* Futures up: Dow 34 pts, S&P 4.25 pts, Nasdaq 11.25 pts
By Yashaswini Swamynathan
Aug 23 (Reuters) - U.S. stock index futures were higher on Tuesday as investors shrugged off a drop in oil prices and awaited Federal Reserve Chair Janet Yellen's speech this week for clues on the next interest rate hike.
* As the U.S. earnings season winds down, investors are focusing on the annual meet of global central bankers at Jackson Hole, Wyoming, from Thursday, for clues on the health of the global economy and Yellen's stand on raising rates.
* Yellen is scheduled to speak on Friday and will use the opportunity to either support or dismiss the perceived hawkish stand that Fed policymakers have taken in recent days.
* Various officials, including Vice Chairman Stanley Fischer, have hinted that a rate hike in the coming months was possible.
* Traders' bets of a rate hike in September stand at 15 percent, and rise to 40 percent for December, according to the CME Group's FedWatch tool.
* Data due Tuesday is expected to show new home sales fell 2 percent to a 580,000-unit pace in July compared with June. The data is scheduled to be released at 10:00 a.m. ET (1400 GMT).
* Oil prices were off about 1 percent as worries of oversupply trumped hopes of an output freeze. However, the decline was less severe than the 3.4 percent slide on Monday. Continuación...