US STOCKS-Wall St looks set to extend rally as oil rises
* Oil prices edge toward $50/barrel
* Tiffany falls after reporting steepest sales drop in 7 yrs
* Computer Sciences jumps after Hewlett Packard Enterprise deal
* Futures rise: Dow 68 pts, S&P 8.5 pts, Nasdaq 22 pts (Adds details, comment, updates prices)
By Tanya Agrawal
May 25 (Reuters) - Wall Street looked set to open higher on Wednesday, extending gains from Tuesday, as oil prices rose and investors got more comfortable with the prospect of an interest rate hike as early as this summer.
Oil rose towards $50 a barrel on Wednesday for the first time in seven months on expectations of shrinking supply due to well fires in Canada and other disruptions.
Comments from policymakers in recent days have raised expectations of a rate hike in June, much sooner than previously thought.
"We've had some good economic data and investors are coming around to the fact that higher rates in a small measured dose isn't the end of the world, but is a measure of confidence in the economy," said Andre Bakhos, managing director at Janlyn Capital LLC in Bernardsville, New Jersey. Continuación...