NEW YORK (CNN/Money) - Wall Street will try to ignore the on-again off-again oil fever on Tuesday after stocks ended flat in the previous session after caution returned that oil prices could rise further despite Saudi Arabia's attempt to boost production.

A pair of economic reports, due at 10:00 a.m. ET, will be the primary factor to influence investors' decision in buying or selling.

Consumer confidence is expected to have risen to 94.0 in May from 92.9 in April. Existing home sales are forecast to have fallen to a 6.45 million unit annual rate in April from a 6.48 million unit annual rate in March.

After the closing bell Monday, shares of Medtronic Inc. (MDT: Research, Estimates) rose after the company reported higher quarterly earnings driven by strong sales across all of its major product lines.

Shares of Medtronic, the world's largest medical device maker, gained 1.4 percent to $48 on the INET electronic system from their close of $47.35 on the New York Stock Exchange.

Medtronic said it enjoyed gains in market share and accelerating growth across all of its operating segments. Its revenue for the quarter rose more than 20 percent to $2.67 billion, beating analysts' estimates of $2.47 billion, according to Reuters Estimates.

Shares of American Medical Systems Holdings (AMMD: Research, Estimates) also rose after the Food and Drug Administration (FDA) granted marketing approval for a surgical treatment for bladder prolapse, which is when the bladder herniates through the vaginal wall.

The stock rose to $27.64 from Monday's close of $27.02.

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But Novell Inc. (NOVL: Research, Estimates) shares sank after the close, after the company posted a narrower quarterly loss, as it booked a non-cash charge related to International Business Machines Corp.'s $50 million investment.

Shares of Novell, which provides update services for Linux software, fell 8.2 percent to $9.15 on INET from their Nasdaq close of $9.97.

Shortly before the close, Novell said its net loss narrowed to $15.4 million, or 4 cents a share, for the quarter ended April 30, from a year-earlier net loss of $29 million, or 8 cents a share. Revenue rose to $294 million from $276 million.  

-- from staff and wire reports