U.S. stocks were set
to open lower Tuesday
following the holiday weekend, as high oil prices and uncertainty about the
economic outlook kept investors on edge.
Crude prices rose 95 cents to $133.14 a barrel,
supported by supply concerns and worries about the health of the U.S.
economy.
Investors were also
awaiting a pair of readings on consumer confidence and new home sales. Economists forecast that the Conference
Board's index of consumer confidence edged lower to 60 in May from 62.3. New home
sales in April are expected to have slowed to an annual pace of 522,000 from
526,000.
Companies to watch include Borders Group: the
bookseller, which has said it may put itself up for sale, is due to report
quarterly results after the market close.
Mobile phone operator Vodafone said its CEO
Arun Sarin is stepping down. The surprise announcement came after the company
reported swinging to a profit for the full year. Vodafone shares rallied 1%.