US futures drop as investors await clues on rebound from Powell, Yellen

US stock index futures slid on Tuesday as energy stocks dropped while investors awaited remarks from Fed Chair Jerome Powell and Treasury Secretary Janet Yellen for clues on the pace of economic rebound.

Chevron Corp, Occidental Petroleum Corp and Exxon Mobil Corp shed between 1.5 per cent and 3.5 per cent pre-market as oil prices slumped 3 per cent on fears that new pandemic curbs and slow vaccine rollouts in Europe will slow a recovery in demand.

Travel-related stocks including United Airlines Holdings , American Airlines, Royal Caribbean Cruises Ltd and Carnival Corp slipped between 1.6 per cent and 3.9 per cent.

Wall