Updated with further earnings information on Home Depot and Staples.
 
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Here are five things you must know for Tuesday, May 16:
 
1. -- U.S. stock futures pointed to a mostly flat open on Tuesday following all-time closing highs in the previous session for the S&P 500 and Nasdaq.
 
European stocks traded mostly lower while Asian shares finished Tuesday's session mostly higher.
 
A jump in crude oil prices on Monday boosted the energy sector and led the S&P 500 and Nasdaq to secure fresh records. The S&P 500 gained 0.48% to 2,402.32 and the Nasdaq rose 0.46% to 6,149.67. The Dow Jones Industrial Average added 0.41%.
 
West Texas Intermediate crude oil gained 2.1% on Monday and was rising 0.6% early Tuesday in the U.S. to $49.14 a barrel.
 
The economic calendar in the U.S. on Tuesday includes Housing Starts for April at 8:30 a.m. EDT, and Industrial Production for April at 9:15 a.m.
 
2. -- Home Depot ( HD)  reported first-quarter profit of $1.67 a share, topping Wall Street estimates by 5 cents. First-quarter same-store sales in the U.S. rose 6%, higher than estimates of 4.3%.
 
Total sales in the quarter were $23.89 billion vs. year-earlier sales of $22.76 billion.
 
Home Depot shares were rising 1.4% in premarket trading.
 
Staples ( SPLS) reported adjusted profit of 17 cents a share in the first quarter, in line with estimates. Sales in the quarter were $4.15 billion, down from $4.36 billion a year earlier.
 
The stock rose nearly 2% in premarket trading.
 
Earnings are also expected Tuesday from  TJX Cos. ( TJX) , Urban Outfitters ( URBN) ,   Dick's Sporting Goods ( DKS) , Sina ( SINA) and Weibo ( WB) .
 
TJX is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells TJX? Learn more now.

3. -- Ford (F)  aims to cut about 10% of its global workforce amid CEO Mark Fields's drive to boost profits and the automaker's sliding stock price, The Wall Street Journal reported, citing people briefed on the plan.

The job cuts could be announced this week, the Journal reported.

The job cuts largely target salaried employees. It's unclear if the plan includes cuts to the hourly workforce at Ford's U.S. factories and plants that are abroad, according to the Journal. Ford has about 200,000 employees worldwide.

Ford's board last week extended its scheduled meetings to press Fields to clarify his strategy as the company's stock price languishes and its U.S. market share recedes, sources told the Journal.

While Ford has been profitable since Fields became CEO in July 2014, shares have fallen by about a third over that period.
 
Ford shares were rising 0.9% in premarket trading on Tuesday. For the year so far, the stock has fallen 9.8%. 

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