Reply #5: U.S. stock futures decline as crude oil nears $59

[UpInArms]

http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2005-11-22T125054Z_01_N22352463_RTRIDST_0_MARKETS-STOCKS-UPDATE-1.XML

NEW YORK, Nov 22 (Reuters) - U.S. stock futures pointed to a lower market opening on Tuesday as oil prices headed toward $59 a barrel, raising concerns about the impact of higher energy costs on corporate profits.

In earnings news, Albertsons Inc. (ABS.N: Quote, Profile, Research), the No. 2 U.S. grocer, posted lower quarterly profit, dragged down by higher costs from hurricanes that had hit the Gulf Coast.

Also on Tuesday, maternity clothing retailer Mothers Work Inc. (MWRK.O: Quote, Profile, Research) reported a larger quarterly loss.

Investors may focus on the release of minutes of the Nov. 1 meeting of the Federal Reserve's rate-setting committee. The minutes are due at 2 p.m. (1900 GMT).

"The rise in oil prices this morning is making many investors pause," said Andre Bakhos, president of Princeton Financial Group. "After weeks of gains in stocks, the fear of higher energy costs and higher rates seems to have returned."

...more...