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*
Yellen, who recently signaled that the recovering economy could
support a rate hike as soon as June, will speak before the World
Affairs Council in Philadelphia at 12:30 p.m. ET (1630 GMT).
* Expectations for the next Fed rate hike were pushed back to at
least July or later after U.S. May non-farm payrolls data on
Friday showed employers added only 38,000 jobs in May, far below
expectations of 164,000.
* Many traders suspect Yellen might craft her message to keep
expectations for a July hike alive. The speech is likely to be
her last before the Fed enters a media blackout period ahead of
the its monetary policy meeting on June 14-15.
* Yellen speech will be assessed to see whether the Fed views
the weak jobs data as an anomaly or if it reflects a broader
slowing of the labor market.
* Traders are now pricing in an only 3.8 percent chance of a
rate hike this month, while the odds of a July hike have slumped
to 30 percent, from 49 percent before the jobs report, according
to CME Group's FedWatch tool.
* Wall Street closed lower on Friday weighed down by bank
stocks, after the dismal jobs report.
* Oil prices rose over 1 percent on Monday on a weak dollar and
as attacks on oil infrastructure in Nigeria capped some output.
[O/R]
* Wal-Mart's shares were up 1 percent at $71.58 premarket after
Jefferies upgraded the stock to "buy".
Futures snapshot at 7:15 a.m. EDT:
* Dow e-minis <1YMc1> were up 29 points, or 0.16 percent, with
17,069 contracts changing hands.
* S&P 500 e-minis were up 2.25 points, or 0.11 percent,
with 129,882 contracts traded.
* Nasdaq 100 e-minis were up 7 points, or 0.16 percent, on
volume of 14,340 contracts.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by
Savio D'Souza)
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