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Updated from 7:42 a.m. ET, Tuesday, July 11. 

Stock futures were lower on Tuesday, July 11, as crude oil prices came under pressure from rising investments in U.S. shale. 

S&P 500 futures slipped 0.09%, Dow Jones Industrial Average futures fell 0.07%, and Nasdaq futures declined 0.17%.

Crude oil prices moved lower on Tuesday after the International Energy Agency forecast a 53% increase in shale investments in 2017, growth that would add more weight to the global supply-demand imbalance. In its monthly report, the IEA said the largest planned increase in upstream spending this year in percentage terms came from the U.S., particularly in "shale assets that have benefited from a reduction in break-even prices as a result of a combination of improvement in costs and efficiency gains."

Crude oil rose on Monday, July 10, on news Nigeria and Libya could participate in production cuts agreed upon by Organization of Petroleum Exporting Countries after the two were invited to attend a meeting later in July. Nigeria and Libya had been exempted from the OPEC agreement. Major oil-producing countries are set to meet to discuss current production limits on July 24.

West Texas Intermediate crude was down 0.7% to $44.07 a barrel on Tuesday morning. 

It's a quiet day on the economic calendar. The Job Openings and Labor Turnover Survey for May will be released at 10 a.m. ET.

In Fedspeak Tuesday, Fed Governor Lael Brainard will deliver the keynote address at the Conference on Normalizing Central Banks' Balance Sheets in New York, and Minneapolis Fed President Neel Kashkari will participate in an economic roundtable.

Federal Reserve Chair Janet Yellen heads to Capitol Hill in the coming week and Wall Street will be paying close attention to her assessments of the U.S. economy and how it might be affected by monetary-policy tightening. Yellen is set to deliver her semiannual testimony on monetary policy to the House Financial Services Committee on Wednesday, July 12, at 10 a.m. ET, and then to the Senate Banking Committee on Thursday, July 13, at 10 a.m. ET.

In its semiannual monetary policy report delivered before Yellen's testimony, the Federal Reserve said it expects "gradual" increases in the federal funds rate and said it's likely to start trimming reinvestment of proceeds from in its fixed-income portfolio later this year. The report was released on Friday, July 7. 

Retail stocks were on watch Tuesday after Inc.'s (AMZN) - Get, Inc. ReportPrime Day kicked off late Monday. The event will run run through July 12 at 3 a.m. Some analysts project sales of between $800 million and $1 billion for Amazon's third Prime Day event. Major retailers including Best Buy Co.  (BBY) - Get Best Buy Co., Inc. Report , Gap Inc. (GPS) - Get Gap, Inc. Report , Dick's Sporting Goods Inc. (DKS) - Get Dick's Sporting Goods, Inc. Report   and Guess? Inc. (GES) - Get Guess?, Inc. Report  sold off on Monday on worries over increased competition from Amazon.  

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PepsiCo Inc. (PEP) - Get PepsiCo, Inc. Report rose nearly 1% in premarket trading after besting profit and sales estimates over its second quarter. The soda company reported earnings of $1.50 a share on revenue of $15.7 billion. Analysts expected earnings of $1.40 a share on revenue of $15.6 billion. Organic revenue increased 3.1%, driven by growth in its Frito-Lay North America and North America beverages segments. 

PepsiCo is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells PEP? Learn more now.

Rent-A-Center Inc. (RCII) - Get Rent-A-Center Inc Report increased more than 16% before the bell after reporting that it had received, and rejected, an unsolicited buyout offer. The bid from private-equity firm Vintage Capital had valued shares at a premium of 35% at the time of the offer on June 20. Rent-A-Center's board said the bid "significantly undervalues" the company. 

Snap Inc. (SNAP) - Get Snap, Inc. Class A Report fell 4% to $16.28 in premarket trading on Tuesday, putting the stock further below its initial public offering price of $17. On Monday, the stock declined 1.1% to $16.99, finishing the session below the March IPO price for the first time. The stock decline came after Credit Suisse analyst Stephen Ju maintained his outperform rating on Snap, but lowered his price target to $25 from $30. Ju cited his concerns over monetization rates.  

Halcon Resources Corp. (HK) rocketed nearly 50% higher on Tuesday after agreeing to sell operated assets in the Williston Basin to an affiliate of Bruin E&P Partners for $1.4 billion in cash. The deal is expected to close within 60 days. Current production of the assets being sold is approximately 29,000 barrels of oil equivalent per day.

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Eat, Drink and Talk Money with Jim Cramer

Meet Jim Cramer at an exclusive reception at his Bar San Miguel in Brooklyn, N.Y., on Tuesday, July 25, from 6:30 p.m. To 9 p.m.

The evening will start with a screening of Jim's CNBC show Mad Money. Afterwards, Jim will join the party fresh off of the CNBC set to mingle, take photos and answer your investing questions.

Tickets include dinner, drinks and an autographed copy of Jim's book Get Rich Carefully.

Click here for more information or to buy tickets.

Where: Bar San Miguel, 307 Smith St., Brooklyn, N.Y.

When: Tuesday, July 25, 6:30 p.m. to 9 p.m.