EmailOracle is the biggest news and it's not that big. S&P futures are up a few points as the market shows continued resilience.
Oracle reported lower-than-expected revenues on a year-over-year decline in revenue of 2.3%. Profits were equal to the average Wall Street forecast, and up to $0.53 per share from $0.48 last year. Lower revenue, but higher profits. This is a common theme lately. Companies are squeezing already high margins. Oracle stock was down $0.52 yesterday ahead of the report and is up $0.29 pre-market. It isn't having broad impact.
Asian stocks posted small gains as the Shanghai index was up less than 0.1% and the Nikkei was up 0.2%. European stocks are up fractionally as well, but the Spanish stock exchange is posting a stronger 1.3% gain on an article in major newspaper that Spain is working with European officials on a bailout. More bailouts is more good news.
There are no US economic releases today and the only earnings report of possible note this morning comes from Darden Restaurants. Profits and revenue were basically as expected.
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