Before the Open (May 5)

Good morning. Happy Tuesday.
The Asian/Pacific markets closed mixed. China dropped 4%, and Hong Kong fell 1.3%. Malaysia, Indonesia and New Zealand closed up. Europe is currently mixed. Greece is down 3.8%, Italy 0.9% and Stockholm 0.5%. Russia is up 2.4%, Switzerland 0.9% and London 0.5%. Futures here in the States point towards a down open for the cash market.
Thanks for your votes on my public list at stockcharts.com. Keep ’em coming.
The dollar is up. Oil is up, copper is up. Gold and silver are up. Bonds are down.
The market didn’t do much yesterday. It gapped up and pushed higher the opening 30-60 minutes and then spent the rest of the day drifting sideways and down. The indexes posted across-the-board gains, but the closes were well off the highs.
Nothing happened that was truly outstanding, so everything stated over the weekend remains in place.
The big mover today before the open is oil. Crude is up $1.50 and is now above $60 for the first time since December. Here’s the daily.

Nothing else to say right now. We’ve been mostly playing oil while we somewhat wait for the indexes to make up their minds. The overall trend is up, but the small caps have been lagging and the breadth indicators have been been supportive of more upside. More after the open.
Stock headlines from barchart.com…
Intercontinental Exchange (ICE +0.34%) reported Q1 EPS of $2.91, weaker than consensus of $2.96.
DirecTV (DTV -0.01%) reported Q1 EPS of $1.44, below consensus of $1.54.
Archer-Daniels-Midland (ADM +1.08%) reported Q1 EPS of 77 cents, above consensus of 71 cents.
AmeriGas (APU -0.04%) reported Q2 EPS of $2.17, weaker than consensus of $2.51.
MDU Resources (MDU -0.67%) reported Q1 EPS of 12 cents, well below consensus of 19 cents.
KapStone (KS -0.56%) reported Q1 adjusted EPS of 30 cents, below consensus of 41 cents.
Vornado (VNO +0.09%) reported Q1 FFO of $1.16, weaker than consensus of $1.19.
DaVita (DVA -0.07%) reported Q1 adjusted EPS of 86 cents, right on consensus, although Q1 revenue of $3.29 billion was better than consensus of $3.25 billion.
Starboard Value reported an 8.2% stake in Brink’s (BCO +1.06%) .
EOG Resources (EOG +0.50%) reported Q1 adjusted EPS of 3 cents, higher than consensus of 0 cents, although Q1 revenue of $2.32 billion was below consensus of $2.71 billion.
Avis Budget (CAR +0.78%) reported Q1 EPS ex-items of 17 cents, better than consensus of 14 cents.
Tenet (THC +3.80%) reported Q1 adjusted EPS of 67 cents, more than double consensus of 32 cents.
Fidelity National (FNF +1.23%) reported Q1 adjusted EPS of 37 cents, higher than consensus of 32 cents.
Texas Roadhouse (TXRH +0.27%) reported Q1 EPS of 46 cents, better than consensus of 44 cents, although Q1 revenue of $460.23 million was below consensus of $465.37 million.
Ingram Micro (IM +0.51%) reported Q1 EPS of 43 cents, below consensus of 44 cents.
Earnings and Economic Numbers from seekingalpha.com…
Today’s economic calendar:
8:30 International Trade
8:30 Gallup US ECI
8:55 Redbook Chain Store Sales
9:45 PMI Services Index
10:00 ISM Non-Manufacturing Index
Notable earnings before today’s open: ABMD, ACTA, AFSI, ALLT, AMAG, ANIP, BBEP, BBW, BLMN, BPI, CIE, CLDT, CRTO, CVLT, CYNO, DIS, DISCA, DTV, EIGI, EL, EMR, ENR, EXH, EXLP, GCAP, GLDD, GLT, GTN, GVA, H, HCA, HCP, HEP, HRC, HRS, HW, ICE, ISIS, K, KEM, KLIC, KMT, LPX, MDC, MDCO, MMP, MNK, MSO, NBL, NGLS, NNN, NTI, NWN, ODP, OZM, PRIM, SABR, SALE, SBH, SCOR, SGNT, SMG, SNSS, SPAR, SRE, SSE, STWD, TDG, TECH, TGH, TRW, TW, UAM, USAK, VLP, VMC, VSH, WEC, WNR, YORW, ZTS
Notable earnings after today’s close: ACLS, AGU, AIZ, ALL, AMRS, AMSG, ANAD, ANDE, ARC, ATSG, AWR, AXLL, BIO, BRDR, CENT, CERS, CLUB, COUP, CRAY, CSU, CTL, CVG, CYH, DK, DKL, DLR, DTLK, DVN, EA, ENPH, EXAM, FISV, FOSL, FTR, GCA, GHDX, GMED, GNMK, GPOR, GRPN, HK, HLF, HRZN, IAG, ICUI, IGTE, IRWD, JIVE, KAR, KGC, KONA, LC, MHLD, MM, MYGN, MYL, NDLS, NFX, NVGS, NYMT, OCLR, OKE, OKS, OUT, PAA, PACB, PAGP, PBPB, PKD, PXD, PZZA, QGEN, QNST, QUAD, REGI, REXX, RLOC, RNR, RP, RUBI, SBRA, SCTY, SKUL, SLF, SM, SPA, SUPN, TEG, TMH, TNET, TRNX, TSRA, TTGT, USNA, VVUS, WAGE, WES, WGP, WR, WSR, WSTC, WTR, WTW, XXIA, Y, ZAGG, ZEN, ZLTQ, ZU
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings
this week’s Economic Numbers