US STOCKS-Wall St set to open higher on Yellen speech, oil rise
* Oil prices touch 2016 highs
* Yellen comments help soothe nerves
* Valeant slumps on weak results, forecast cut
* Futures up: Dow 45 pts, S&P 4 pts, Nasdaq 8.25 pts (Adds details, comment, updates prices)
By Yashaswini Swamynathan
June 7 (Reuters) - Wall Street was set for a higher opening on Tuesday, a day after Federal Reserve Chair Janet Yellen expressed confidence in the health of the economy, and as oil prices touched 2016 highs.
Yellen's remarks, likely her last public comments before a policy meeting next week, sought to soothe nerves after a dismal monthly jobs report raised concerns about the economy's health and its ability to absorb a rate hike as early as June.
The S&P 500, on Monday, closed at its highest this year as Yellen's remarks helped ease those concerns, while underscoring views the Fed may be in no rush to raise rates.
The Fed Chair did say rates would be increased gradually, but did not ascribe a time-frame, a contrast to her comments on May 27 when she said a hike would be appropriate in the coming months due to the labor market's strength and rising inflation. Continuación...