Stocks Seen Opening Lower; Oil Near $55 By Michael Flaherty NEW YORK (Reuters) - U.S. stock futures fell on Monday, pointing to a lower market open, as oil prices held near $55 a barrel and Dow component 3M Co. (MMM.N: Quote , Profile , Research ) posted results slightly below Wall Street estimates. The chairman and chief executive of the diversified manufacturer, which sells a large portion of its products overseas, said he was cautious about the global economy. Mattel Inc. (MAT.N: Quote , Profile , Research ) , the No. 1 toy maker, said third-quarter earnings fell 5 percent on a 13 percent drop in Barbie sales. Rival Hasbro Inc. (HAS.N: Quote , Profile , Research ) said earnings rose but missed Wall Street expectations and warned that its 2004 revenues may not achieve its growth goal. S&P 500 futures were down 2.9 points, below fair value accounting for dividends, interest rates and time to expiration on the contract. Dow Jones industrial index futures fell 27 points, while Nasdaq 100 futures slid 6 points. "People are concerned about the price of oil," said David Buik, head of business strategy at spread-betting firm Cantor Index in London. Buik said investors are also showing concern that the profit growth rate in the third-quarter may be lagging. "There's just no enthusiasm," Buik said, adding that the uncertainty of the U.S. presidential election was fueling investor worries. Auto parts supplier Delphi Corp. (DPH.N: Quote , Profile , Research ) reported a steep quarterly net loss, pressured by North American motor vehicle production cuts and rising materials costs. Prices for U.S. crude oil made fresh gains above $55 a barrel, led by record-breaking heating oil prices on fears of a winter supply crunch. U.S. light crude (CLc1: Quote , Profile , Research ) hit a new peak at $55.33 a barrel before easing to $54.72, down 21 cents in overnight trading, for a gain of 67 percent since the start of the year. Investors will focus on whether the oil price surge has begun to hit company earnings and dampen consumer confidence. On Friday, a report showed that U.S. consumer sentiment fell more sharply in early October than analysts had expected, a factor that some analysts said was weighing on the futures. The Dow Jones industrial average ended up 38.93 points, or 0.39 percent, at 9,933.38, based on the latest data. The Standard & Poor's 500 Index was up 4.91 points, or 0.45 percent, at 1,108.20. The technology-laced Nasdaq Composite Index was up 8.48 points, or 0.45 percent, at 1,911.50. Last week, the Dow declined 1.21 percent, Nasdaq fell 0.44 percent and the Standard & Poor's 500 was down 1.24 percent. All three indexes have ended lower for two consecutive weeks. Quelle "Stocks Seen Opening Lower; Oil Near $55" : reuters.com Main page for "Stocks Seen Opening Lower; Oil Near $55"