US STOCKS-S&P 500, Dow set to drop ahead of Powell, Yellen testimonies

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* Oil, travel stocks slip on virus concerns
* GameStop Corp rises ahead of quarterly results
* Futures: Dow down 0.37%, S&P dips 0.31%, Nasdaq up 0.10%

(Adds comment; updates price throughout)
By Medha Singh and Devik Jain
March 23 (Reuters) - The S&P 500 and the Dow were set to
open lower on Tuesday as energy and travel stocks slipped, while
investors awaited remarks from Fed Chair Jerome Powell and
Treasury Secretary Janet Yellen for clues on the pace of
economic rebound.
Chevron Corp CVX.N , Occidental Petroleum Corp OXY.N and
Exxon Mobil Corp XOM.N shed between 1.7% and 3.8% premarket as
oil prices slumped 3% on fears that new pandemic curbs and slow
vaccine rollouts in Europe will slow a recovery in demand. O/R
Travel-related stocks including United Airlines Holdings
UAL.O , American Airlines AAL.O , Royal Caribbean Cruises Ltd
RCL.N and Carnival Corp CCL.N slipped between 1.3% and 2.2%
. Wall Street's main indexes rallied on Monday as investors
rotated out of undervalued economy-linked banks and energy
stocks and moved into tech-focused shares in a slight reversal
of this year's trend.
"It really is a sense of confusion as the market searches
for the next leadership or the continued leadership from the
value area," said Julian Emanuel, chief equity and derivatives
strategist at BTIG.
Powell is expected to reiterate his confidence in the
economy's growth while cautioning the recovery is far from
complete. Yellen is likely to paint an optimistic picture of the
economy before the U.S. lawmakers later in the day. Their
congressional hearings begin at 12 p.m. ET (1600 GMT).
"We kind of know where the Fed is at in terms of yields,
inflation and accommodation. We will want to hear a lot more
about what Yellen says on additional stimulus," said Neil
Wilson, chief market analyst for Markets.com.
At 8:23 a.m. ET, Dow E-minis 1YMcv1 were down 121 points,
or 0.37% and S&P 500 E-minis EScv1 were down 12 points, or
0.31%. Nasdaq 100 E-minis NQcv1 were up 13.5 points, or 0.1%.
Shares of videogame retailer GameStop Corp GME.N , which is
transitioning itself into an ecommerce firm, rose 0.7% ahead of
its fourth-quarter results due after markets close. The stock
has been at the center of a retail trading frenzy recently.
U.S.-listed shares of AstraZeneca Plc AZN.O fell 2.3%
after a U.S. health agency raised fresh doubt on the results of
the drugmaker's large-scale COVID-19 vaccine trials.
U.S.-listed shares of Chinese internet search provider Baidu
Inc BIDU.O slid 3% following a flat Hong Kong debut as
investors were wary of a fundraising flurry in the city and
questioned the company's growth plans.