Stocks are set to open lower this morning based on a look at futures trading. The main culprit  is rising oil. Iran is threatening the "energy flow in this region" if the United States doesn't stop trying to curtail its nuclear activity. Plus, the Wall Street Journal reports that Saudi Arabia is trimming oil exports since refining demand is down. Both factors are driving up the price of oil to $73.50 this morning.

A measure of the health of the service sector, the Institute for Supply Management's May services index, will be reported this morning. Growth is expected to slow from last month's reading of 63.

While a lower reading would mean the Fed may not have to raise interest rates at its next meeting late this month, it could also worry investors that the economy is slowing  sharply. Last Friday's job report was much weaker than expected, raising such concerns. The AP reports this morning, "Economy Might Be Heading for Tough Times."

Here's a look at some key Blogging Stocks:

Apple (AAPL) shares are down 36 cents in pre-market trading to $61.30 as of 8:04 a.m. It is pulling its software development and support divisions out of India.

General Electric (GE) closed at $34.66 a share on Friday. GE Universal's "The Break-Up" was a hit at the box office this weekend.

Time Warner (TWX) shares closed at $17.58 last Friday. It won a contract to provide broadband to Texas state offices.

Wal-Mart (WMT) closed at $47.83 last Friday. Wal-mart and other retailers will soon be offering kiosks in stores that allow customers to download on-demand movies to DVDs or personal video players. See Engadget's take.