NEW YORK (CNN/Money) - Stocks looked to get a lift from lower oil prices in early trading Monday, while considering AIG's intended restatement and Verizon's raised bid for MCI.

U.S. stock futures were up in early trading, as oil prices fell to near the $49 a barrel level, following Friday's close below $50 a barrel for the first time since early February. The June light crude contract lost 54 cents to $49.18 a barrel in electronic trading.

Major markets in Asia closed mixed, with Tokyo markets flat ahead of a three-day trading holiday. Major European markets were higher in early trading on the lower oil prices, although London was closed for a holiday.

Treasury prices were higher, cutting the yield on the 10-year note to 4.19 percent from 4.20 percent late Friday. The dollar gained ground on the euro and the yen.

In economic news, investors and economists will get the latest readings on manufacturing outlook and construction spending, ahead of Tuesday's meeting of the Federal Reserve.

The Institute of Supply Management's report on manufacturing is forecast to slip to 55 for April from 55.2 in March, according to an economists' consensus from Briefing.com. Any reading above 50 indicates growth in the sector.

March construction spending is forecast to rise 0.3 percent after a 0.4 percent rise in February.

Both reports are due at 10 a.m. ET.

In corporate news, telecom MCI (Research) announced it had an improved offer from Verizon Communications (Research) worth at least $26 a share that it said it was recommending over the $30 a share cash and stock offer from Qwest Communications (Research), which it had previously recommended to shareholders.

Dow component American International Group (Research) announced late Sunday that it would restate almost five years of financial results and reduce its net worth by about $2.7 billion, or about $1 billion more than it previously estimated. The insurer, which had planned to release annual results Monday, now expects to file those restatement and results by May 31.

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