Stocks set for shaky start
Markets look to fall at Tuesday's open as investors await reading on consumer confidence, GM deadline looms, North Korea tensions rise.
NEW YORK (CNNMoney.com) -- U.S. stocks were poised to tumble at Tuesday's open, as oil prices fell, tensions about North Korea rose and investors awaited a reading on consumer confidence.
At 8:18 a.m. ET, Dow Jones industrial average, S&P 500 and Nasdaq 100 futures were lower.
Futures measure current index values against perceived future performance and offer an indication of how markets may open when trading begins in New York.
Stocks ended last week essentially flat, but economic worries continue to hang over investors, who are coming back from a long weekend. U.S. markets were closed Monday for Memorial Day.
With the major indexes up around 30% from the lows of early March, "a lot of people jumping on the correction bandwagon," according to Anthony Conroy, head trader at BNY ConvergEx Group.
"I wouldn't be surprised to get a little back from what we've taken so far this year," Conroy said. "It all depends on what we're going to see with these economic numbers."
Economy: At 10 a.m. ET, the Conference Board is due to release its report on May consumer confidence. Economists think confidence rose in May, with the index climbing to 42 from 39.2 the month before.
A key home price index, durable goods orders and a revision of first-quarter gross domestic product are all on tap for later in the week.
World markets: Stocks in Asia fell after North Korea fired short-range missiles following its nuclear test Monday. European shares also tumbled across the board.
Autos: The fate of General Motors (GM, Fortune 500), a major uncertainty on Wall Street, may become more clear. The automaker has set a May 26 deadline for its bondholders to reach a restructuring agreement, major hurdle GM needs to clear in order to avoid bankruptcy.
Oil: Oil prices tumbled $0.96 to $60.71 a barrel in electronic trading ahead of an OPEC meeting later this week. Traders expect the cartel to leave output unchanged at the meeting. 
