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Here are five things you must know for Tuesday, Feb. 5:

1. -- Stock Futures Higher After Powell Meets With Trump

U.S. stock futures rose on Tuesday, Feb. 5, and global stocks edged higher as investors continued to favor robust U.S. economic data over concerns for the fate of trade talks between Washington and Beijing.

Stock market bulls were given further fuel to take stocks higher after an unscheduled meeting late Monday in Washington between Donald Trump and Federal Reserve Chairman Jerome Powell reaffirmed the central bank's signaling of a pause in near-term interest rate hikes.

At the 90-minute dinner, which included Treasury Secretary Steven Mnuchin and Fed Vice Chairman Richard Claria, the Fed chairman "did not discuss his expectations for monetary policy, except to stress that the path of policy will depend entirely on incoming economic information and what that means for the outlook," the central bank said. "Chair Powell said that he and his colleagues will make those decisions based solely on careful, objective and non-political analysis."

The dovish tone could be coupled by bullish remarks on U.S. trade talks Tuesday evening when Trump delivers his delayed State of the Union address to Congress, which will come less than a month ahead of the self-imposed March 1 deadline to reach a trade deal with China.

Contracts tied to the Dow Jones Industrial Average were up 83 points, futures for the S&P 500 gained 4.75 points, and Nasdaq futures rose 16.25 points.

The economic calendar in the U.S. Tuesday includes the PMI Services Index for January at 9:45 a.m. ET, and the ISM Non-Manufacturing Index for January at 10 a.m.

2. -- Alphabet Falls on Concerns Over Rising Costs 

Alphabet Inc. (GOOGL - Get Report) , the parent of Google, beat fourth-quarter analysts' estimates for earnings and revenue but the stock declined 2.3% in premarket trading Tuesday amid investor concern over rising costs in some of the company's growth businesses.

The internet giant posted earnings of $12.77 a share vs. a $10.86 consensus estimate, while revenue of $31.84 billion beat a $31.3 billion estimate. Total revenue rose 22% year over year and 23% in constant currency, while revenue on Google's own properties (including traffic acquisition costs) rose 22% to $27 billion.

But operating income of $8.2 billion in the quarter fell short of expectations of $8.6 billion as expenses rose. The company reported that its GAAP costs and expenses rose 26% year over year to $31.07 billion. Capital expenditures jumped 64% to just more than $7 billion, as company-wide headcount expanded to more than 100,000 and management piled more cash into the group's high-growth "other bets" businesses, such as Waymo, Google Fiber, the Verily life sciences unit. Alphabet, however, offered little transparency on how or when those bets will pay off.

The cost increases were set against lower prices paid by advertisers across Google's myriad platforms, with so-called traffic acquisition costs falling 29%, pushing overall company operating margins down 400 basis points from last year to 21% and spooking investors that profitability will continue to be pressured in the coming years thanks to intensifying competition -- from Facebook Inc. (FB - Get Report) , Amazon.com Inc. (AMZN - Get Report) and others -- in the online advertising business.

"We remain focused on prioritization in order to optimize resources for longer-term growth in sizable markets," Chief Financial Officer Ruth Porat told investors on a conference call late Monday. "You'll see us continue to support our priority areas with increased headcount, which will remain concentrated in R&D. Although we expect the growth rate to moderate in 2019."

"Yes, expenses were on the rise and that will put some fear in what it means to operating income growth, just like it did with Amazon, however, its impacts are manageable because the company's earnings power is still quite strong," said Jim Cramer and the Action Alerts PLUS team, which holds Alphabet in its portfolio.

3. -- BP's Strong Fourth-Quarter Profit Tops Forecast

BP PLC  (BP - Get Report) posted stronger-than-expected fourth-quarter earnings as underlying profit surged from a year earlier despite a slump in global crude prices.

BP said underlying replacement cost profit, which strips out the value of oil held in inventory, rose to $3.48 billion in the quarter, up 65% from a year earlier and ahead of the company-supplied forecast of $2.63 billion. BP also said it will pay a dividend of 10.25 cents a share, an increase of 2.5%.

"We now have a powerful track record of safe and reliable performance, efficient execution and capital discipline," said CEO Bob Dudley. "And we're doing this while growing the business - bringing more high-quality projects online, expanding marketing in the Downstream and doing transformative deals such as BHP."

"Our strategy is clearly working and will serve the company and our shareholders well through the energy transition," he added.

The stock rose 4.1% in premarket trading.

BP is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells BP? Learn more now.

4. -- Walt Disney, Snap and Anadarko Lead Tuesday's Earnings Calendar

Estee Lauder Cos. (EL - Get Report)  posted stronger-than-expected fiscal second-quarter sales and boosted its full-year outlook thanks to solid global skin care sales.

The stock jumped 10% in premarket trading on Tuesday.

Viacom Inc. (VIAB - Get Report)  earned $1.12 a share on an adjusted basis in its fiscal first quarter, beating estimates of $1.03. Revenue of $3.09 billion came in below forecasts of $3.12 billion.

Earnings reports are also expected Tuesday from Walt Disney Co. (DIS - Get Report) , Snap Inc. (SNAP - Get Report) , Electronic Arts Inc. (EA - Get Report) , Anadarko Petroleum Corp. (APC) , Allstate Corp. (ALL - Get Report) , Twenty-First Century Fox Inc. (FOXA) , Ralph Lauren Corp. (RL - Get Report) , Skyworks Solutions Inc. (SWKS - Get Report) and Microchip Technology Inc. (MCHP - Get Report) .

Walt Disney and Anadarko Petroleum are holdings in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells the stocks? Learn more now.

5. -- Boeing Pushes to Speed Up 737 Production - Report

Boeing Co. (BA - Get Report) is pushing to speed up assembly of its best-selling 737 jetliner the first week in June, two people familiar with the plan told Reuters, as the aerospace giant tries to keep up with soaring global demand and European rival Airbus SE.

Boeing aims to reach the new rate of 57 single-aisle jets per month starting on June 3, up from 52, one of the people told Reuters.

The extra five planes a month is key to Boeing's effort to raise profit margins on its top-selling jetliner, which can carry a list price ranging from around $85.8 million to $129.9 million and are the company's largest source of profit, Reuters noted.

Airbus is close to producing 60 aircraft per month of its best-selling single-aisle A320-family, according to Reuters.