Here are 10 things you should know for Tuesday, Feb. 2:
1. -- U.S. stock futures suggested Wall Street would open lower Tuesday as oil prices fell again.
Crude oil in the U.S. was down 2.7% in electronic trading to $30.77 a barrel.
European stocks followed Asian indices lower Tuesday following oil's sharp declines.
2. -- The economic calendar in the U.S. on Tuesday is bare.
3. -- U.S. stocks on Monday finished mixed. While crude's 6% slide dragged down energy stocks, mild gains elsewhere helped ease the impact. The S&P 500 slipped 0.04%, rebounding from a steep decline earlier in the day, the Dow Jones Industrial Average fell 0.1%, and the Nasdaq gained 0.14%.
4. --Texas Sen. Ted Cruz swept to victory in Iowa's Republican caucuses on Monday, overcoming billionaire Donald Trump and a stronger-than-expected showing by Florida Sen. Marco Rubio. Among Democrats, Hillary Clinton secured a narrow victory over the insurgent Bernie Sanders: 49.9% of caucus-goers vs. 49.6%.
"Iowa has sent notice that the Republican nominee and next president of the United States will not be chosen by the media, will not be chosen by the Washington establishment," Cruz said.
5. -- Alphabet (GOOGL) - Get Alphabet Inc. Class A Report earned $4.9 billion on revenue of $21.3 billion in the fourth quarter. Excluding employee stock expenses and certain other items, Alphabet posted earnings of $8.67 a share, easily topping Wall Street forecasts.
In the fourth quarter, Alphabet's Google produced an operating profit of $6.8 billion on revenue of $17.1 billion, after subtracting ad commissions. The profit margin in the quarter was 40%.
Alphabet's other companies together posted an operating loss of $1.2 billion on revenue of just $151 million.
The stock was rising 5% in premarket trading on Tuesday.
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"Last night's call on Alphabet gave every growth stock manager goose bumps," Cramer wrote. "That's because it had accelerated revenue growth, or ARG, as I like to call it, at the same time that it had ratcheted back expenses."
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The British oil giant said underlying replacement cost profit fell to $196 million from $2.2 billion in the same quarter a year earlier.
The company also set aside an additional $443 million in the quarter to cover costs related to the Deepwater Horizon oil spill in the Gulf of Mexico in 2010. Total charges for the spill now total $55.5 billion.
"We are continuing to move rapidly to adapt and rebalance BP for the changing environment," CEO Bob Dudley said in a statement. "We're making good progress in managing and lowering our costs and capital spending, while maintaining safe and reliable operations.
BP also announced 3,000 job cuts globally by the end of 2017.
7. -- Yahoo! (YHOO) CEO Marissa Mayer, following the release of the Internet company's fourth-quarter earnings Tuesday, is expected to unveil a plan aimed at slashing Yahoo!'s costs, including the closure of several business units and a reduction of up to 15% of its workforce, The Wall Street Journal reported, citing people familiar with the matter.
Mayer had said in October that she was preparing to narrow the company's focus to fewer areas, without providing more details.
8. -- UBS (UBS) - Get UBS Group AG Report said net profit in the quarter ended in December rose 10% but the Swiss bank cited "very low levels of client activity and pronounced risk aversion" as it reported 3.4 billion Swiss francs ($3.3 billion) had flowed out of its wealth management arm.
UBS said outflows in emerging markets and Europe outweighed inflows in the Asia Pacific region and Switzerland.
9. -- U.S. automakers, such as General Motors (GM) - Get General Motors Company Report and Ford (F) - Get Ford Motor Company Report , will be posting sales for January throughout the day.
10. -- Earnings are expected Tuesday from Exxon Mobil (XOM) - Get Exxon Mobil Corporation Report , Dow Chemical (DOW) - Get Dow, Inc. Report , Pfizer (PFE) - Get Pfizer Inc. Report , Yahoo! (YHOO) , United Parcel Service (UPS) - Get United Parcel Service, Inc. Class B Report and Keurig Green Mountain (GMCR) .
Dow Chemical is a holding in Jim Cramer's Action Alerts PLUScharitable trust portfolio.