Commodity prices are mixed. Jun crude oil (CLM15 +2.33%) is up +2.37% at a 4-3/4 month high and Jun gasoline (RBM15 +1.19%) is up +1.11% at a 5-3/4 month high on expectations that today's EIA data will show crude supplies at Cushing, OK, the delivery point of WTI futures, fell -580,000 bbl. Metals prices are lower. Jun gold (GCM15 -0.28%)is down -0.42%. Jul copper (HGN15 -0.72%) is down -0.73%. Agriculture prices are higher.
The dollar index (DXY00 -0.27%) is down -0.29%. EUR/USD (^EURUSD) is up +0.43%. USD/JPY (^USDJPY) is down -0.07%.
Jun T-note prices (ZNM15 -0.15%) are down -3.5 ticks at a 1-1/2 month low on carry-over weakness from the plunge in German bund prices to a 4-month low.
According to two people familiar with the matter, the ECB will discuss today whether to raise discounts on the collateral Greek banks pledge in exchange for emergency funding as well as how much more Emergency Liquidity Assistance to offer Greek banks.
Minneapolis Fed President Kocherlakota said "softening" of the U.S. economy in Q1 "is a matter for some concern" and underscores his view that the Fed should not raise rates until 2016.
There are 17 of the S&P 500 companies that report earnings today with notable reports including: Marathon Oil (consensus $-0.45), Whole Foods (0.43), MetLife (1.41), TripAdvisor (0.55), Transocean (0.59).
U.S. IPO's scheduled to price today include: Tallgrass Energy (TEGP), Commercial Credit (CCR), Collegium Pharmaceutical (COLL), aTyr Pharma (LIFE), Klox Technologies (KLOX), HTG Molecular Diagnostics (HTGM), Forest City Enterprises (FCE/A).
Equity conferences during the remainder of this week include: Internet & Television Expo on Tue-Wed, Wells Fargo Industrial and Construction Conference on Tue-Wed, Baird Growth Stock Conference on Tue-Thu, Power & Electricity World Asia 2015 on Wed, Sanford C. Bernstein & Co. Energy Conference on Wed, Deutsche Bank Health Care Conference on Wed-Thu, ICI General Membership Meeting on Wed-Thu, Citi Car of the Future Conference on Thu, Mitsubishi UFJ Securities Oil & Gas Conference on Thu, and RBC Capital Markets Mobile & Cloud Networking Investor Day on Thu.
News Corp. (NWSA -0.93%) reported Q3 adjusted EPS of 5 cents, less than consensus of 7 cents.
CenturyLink (CTL -1.42%) reported Q1 adjusted EPS of 67 cents, above consensus of 59 cents.
Trinseo (TSE -2.02%) reported Q1 adjusted EPS of 80 cents, below consensus of 81 cents.
Team Health (TMH -1.67%) reported Q1 adjusted EPS of 68 cents, better than consensus of 60 cents.
Community Health (CYH -3.63%) reported Q1 EPS of 79 cents, above consensus of 66 cents, but Q1 revenue of $4.911 billion was below consensus of $5.010 billion
Frontier Communications (FTR -1.89%) reported Q1 adjusted EPS of 2 cents, half as much as consensus of 4 cents.
Andersons (ANDE -0.83%) reported Q1 adjusted EPS of 42 cents, higher than consensus of 34 cents, but Q1 revenue of $950 million was less than consensus of $962.05 million.
Allstate (ALL +0.26%) reported Q1 EPS of $1.46, above consensus of $1.44.
Herbalife (HLF -4.71%) jumped 13% in after-hours trading after it reported Q1 adjusted EPS of $1.29, higher than consensus of $1.01, and then raised guidance on fiscal 2015 adjusted EPS outlook to $4.30-$4.60, better than consensus of $4.22.
Groupon (GRPN -2.84%) fell over 4% in after-hours trading after it reported Q1 EPS of 3 cents, better than consensus of 1 cent, although Q1 revenue of $750.4 million was less than consensus of $812.19 million.
Electronic Arts (EA -0.25%) climbed nearly 5% in after-hours trading after it reported Q4 adjusted EPS of 39 cents, well above consensus of 25 cents, and then raised guidance on fiscal 2016 adjusted EPS to $2.75, better than consensus of $2.64.
Mylan (MYL -0.22%) reported Q1 adjusted EPS of 70 cents, above consensus of 69 cents, but Q1 revenue of $1.87 billion was below consensus of $2.06 billion.
AmSurg (AMSG -2.42%) reported Q1 adjusted EPS of 62 cents, higher than consensus of 57 cents, and then raised guidance on fiscal 2015 EPS outlook to $3.31-$3.39 from $3.24-$3.32, above consensus of $3.26.
Fiserv (FISV -1.45%) reported Q1 adjusted EPS of 89 cents, better than consensus of 86 cents, although Q1 revenue of $1.28 billion was below consensus of $1.29 billion.
Jun 10-year T-notes (ZNM15 -0.15%) this morning are down -3.5 ticks at a fresh 1-1/2 month low. Tuesday's closes: TYM5 -11.00, FVM5 -7.00. June T-bonds on Tuesday slid to a new 1-1/2 month low due to the unexpected increase in the Apr ISM non-manufacturing index to a 5-month high and carry-over weakness from a slump in German bund prices to a 3-1/4 month low.
The dollar index (DXY00 -0.27%) this morning is down -0.271 (-0.29%). EUR/USD (^EURUSD) is up +0.0048 (+0.43%). USD/JPY (^USDJPY) is down -0.08 (-0.07%). Tuesday's closes: Dollar Index -0.404 (-0.42%), EUR/USD +0.00385 (+0.35%), USD/JPY -0.26 (-0.22%). The dollar index on Tuesday closed lower on expectations that an expected downward revision in Q1 GDP from the much wider-than-expected U.S. Mar trade deficit report of -$51.4 billion could delay a Fed rate hike. EUR/USD saw strength after the European Commission raised its Eurozone 2015 GDP forecast to 1.5% from Feb's estimate of 1.3%.
Jun WTI crude oil (CLM15 +2.33%) this morning is up +$1.43 a barrel (+2.37%) at a 4-3/4 month high and Jun gasoline (RBM15 +1.19%) is up +0.0230 (+1.11%) at a 5-3/4 month high. Tuesday's closes: CLM5 +1.47 (+2.49%), RBM5 +0.0345 (+1.70%). Jun crude oil and gasoline closed higher on Monday with Jun crude at a 4-3/4 month high and Jun gasoline at a 5-1/4 month high as the market is hoping for Wednesday's EIA report to show the second weekly decline in Cushing crude oil inventories and on ideas that U.S. oil production may drop as well.
|US||0700 ET||Weekly MBA mortgage applications, previous -2.3% with purchase sub-index unch and refi sub-index -3.7%.|
|0815 ET||Apr ADP employment change expected +200,000, Mar +189,000.|
|0830 ET||Treasury announces amount of 3-year T-notes (previous $24 billion), 10-year T-notes (previous $21 billion) and 30-year T-bonds (previous $13 billion) to be auctioned May 12-14 in the Treasurys quarterly refunding.|
|0830 ET||Q1 non-farm productivity expected -1.9%, Q4 -2.2%. Q1 unit labor costs expected +4.5%, Q4 +4.1%.|
|0915 ET||Fed Chair Janet Yellen and IMF Managing Director Christine Lagarde speak on topics in finance, governance, and society on a panel discussion at an Institute for New Economic Thinking conference in Washington, D.C.|
|1030 ET||EIA Weekly Petroleum Status Report.|
|1315 ET||Kansas City Fed President Esther George speaks on Credit Markets: Booms, Busts and Distortions on a panel discussion at an Institute for New Economic Thinking conference in Washington, D.C.|
|1330 ET||Atlanta Fed President Dennis Lockhart speaks on the economic outlook and monetary policy to the Baton Rouge Rotary.|
|GER||0355 ET||Revised German Apr Markit services PMI, previous 54.4.|
|EUR||0400 ET||Revised Eurozone Apr Markit composite PMI, previous 53.5.|
|0500 ET||Eurozone Mar retail sales expected -0.7% m/m and +2.4% y/y, Feb -0.2% m/m and +3.0% y/y.|
|UK||0430 ET||UK Apr Markit/CIPS services PMI expected -0.4 to 58.5, Mar 58.9.|
|JPN||2135 ET||Japan Apr Markit services PMI, Mar 48.4.|
|n/a||Japanese markets closed for National Holiday.|
|LyondellBasell Industries NV||LYB US||3:30||Annual General Meeting||Y 2015|
|Occidental Petroleum Corp||OXY US||Bef-mkt||Q1 2015 Earnings Release||Q1 2015||0.041|
|Chesapeake Energy Corp||CHK US||Bef-mkt||Q1 2015 Earnings Release||Q1 2015||0.036|
|Spectra Energy Corp||SE US||Bef-mkt||Q1 2015 Earnings Release||Q1 2015||0.426|
|Motorola Solutions Inc||MSI US||7:00||Q1 2015 Earnings Release||Q1 2015||0.249|
|DENTSPLY International Inc||XRAY US||7:00||Q1 2015 Earnings Release||Q1 2015||0.573|
|Masco Corp||MAS US||8:00||Investor Day||Y 2015|
|Motorola Solutions Inc||MSI US||8:00||Q1 2015 Earnings Call||Q1 2015|
|Dun & Bradstreet Corp/The||DNB US||8:00||Annual General Meeting|
|Assurant Inc||AIZ US||8:00||Q1 2015 Earnings Call||Q1 2015|
|DENTSPLY International Inc||XRAY US||8:30||Q1 2015 Earnings Call||Q1 2015|
|Dominion Resources Inc/VA||D US||9:00||Annual General Meeting||Y 2015|
|General Dynamics Corp||GD US||9:00||Annual General Meeting||Y 2015|
|PepsiCo Inc||PEP US||9:00||Annual General Meeting||Y 2015|
|Chesapeake Energy Corp||CHK US||9:00||Q1 2015 Earnings Call||Q1 2015|
|Allstate Corp/The||ALL US||9:00||Q1 2015 Earnings Call||Q1 2015|
|NASDAQ OMX Group Inc/The||NDAQ US||9:00||Annual General Meeting||Y 2015|
|Philip Morris International Inc||PM US||9:00||Annual General Meeting||Y 2015|
|Spectra Energy Corp||SE US||9:00||Q1 2015 Earnings Call||Q1 2015|
|Hess Corp||HES US||10:00||Annual General Meeting|
|CSX Corp||CSX US||10:00||Annual General Meeting||Y 2015|
|International Flavors & Fragrances Inc||IFF US||10:00||Annual General Meeting||Y 2015|
|Bank of America Corp||BAC US||10:00||Annual General Meeting||Y 2015|
|Occidental Petroleum Corp||OXY US||10:00||Q1 2015 Earnings Call||Q1 2015|
|Pioneer Natural Resources Co||PXD US||10:00||Q1 2015 Earnings Call||Q1 2015|
|Phillips 66||PSX US||10:00||Annual General Meeting|
|ONEOK Inc||OKE US||11:00||Q1 2015 Earnings Call||Q1 2015|
|Newfield Exploration Co||NFX US||11:00||Q1 2015 Earnings Call||Q1 2015|
|Devon Energy Corp||DVN US||11:00||Q1 2015 Earnings Call||Q1 2015|
|FMC Technologies Inc||FTI US||12:00||Annual General Meeting|
|Hospira Inc||HSP US||12:00||Annual General Meeting||Y 2015|
|Twenty-First Century Fox Inc||FOXA US||16:00||Q3 2015 Earnings Release||Q3 2015||0.391|
|Twenty-First Century Fox Inc||FOXA US||16:30||Q3 2015 Earnings Call||Q3 2015|
|TripAdvisor Inc||TRIP US||16:30||Q1 2015 Earnings Call||Q1 2015|
|Whole Foods Market Inc||WFM US||17:00||Q2 2015 Earnings Call||Q2 2015|
|Keurig Green Mountain Inc||GMCR US||17:00||Q2 2015 Earnings Call||Q2 2015|
|Kimco Realty Corp||KIM US||Aft-mkt||Q1 2015 Earnings Release||Q1 2015||0.352|
|Marathon Oil Corp||MRO US||Aft-mkt||Q1 2015 Earnings Release||Q1 2015||-0.454|
|Whole Foods Market Inc||WFM US||Aft-mkt||Q2 2015 Earnings Release||Q2 2015||0.426|
|Transocean Ltd||RIG US||Aft-mkt||Q1 2015 Earnings Release||Q1 2015||0.586|
|Keurig Green Mountain Inc||GMCR US||Aft-mkt||Q2 2015 Earnings Release||Q2 2015||1.049|
|Prudential Financial Inc||PRU US||Aft-mkt||Q1 2015 Earnings Release||Q1 2015||2.391|
|Essex Property Trust Inc||ESS US||Aft-mkt||Q1 2015 Earnings Release||Q1 2015||2.251|
|MetLife Inc||MET US||Aft-mkt||Q1 2015 Earnings Release||Q1 2015||1.414|
|CF Industries Holdings Inc||CF US||Aft-mkt||Q1 2015 Earnings Release||Q1 2015||4.625|
|TripAdvisor Inc||TRIP US||Aft-mkt||Q1 2015 Earnings Release||Q1 2015||0.551|
|PulteGroup Inc||PHM US||Annual General Meeting|
|Costco Wholesale Corp||COST US||April 2015 Sales and Revenue Release||2015|
|Express Scripts Holding Co||ESRX US||Annual General Meeting|
|Expeditors International of Washington Inc||EXPD US||Q1 2015 Earnings Release||Q1 2015||0.485|
|Gilead Sciences Inc||GILD US||Annual General Meeting||Y 2015|
|Alexion Pharmaceuticals Inc||ALXN US||Annual General Meeting|
|AMETEK Inc||AME US||Annual General Meeting|
|United Rentals Inc||URI US||Annual General Meeting|
|CONSOL Energy Inc||CNX US||Annual General Meeting|