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Here are five things you must know for Wednesday, Feb. 6:

1. -- Stocks Mixed as Trump Fails to Ease China Trade Fears

U.S. stock futures turned mixed on Wednesday, Feb. 6, and global stocks drifted lower as investors found little from within Donald Trump's State of the Union Address to extend recent market gains and worried that the lack of detail on progress in trade talks with China raises the risk the two sides will fail to reach an agreement by their self-imposed March 1 deadline.

"We are now making it clear to China that after years of targeting our industries, and stealing our intellectual property, the theft of American jobs and wealth has come to an end," Trump said in his speech. "I have great respect for President Xi, and we are now working on a new trade deal with China. But it must include real, structural change to end unfair trade practices, reduce our chronic trade deficit, and protect American jobs."

U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin reportedly will travel to Beijing next week to resume talks aimed at tackling alleged intellectual property theft, but with the deadline looming, the risk of tariffs on $250 billion worth of China-made goods - including clothes, shoes and consumer electronics - is suddenly a very real concern.

Contracts tied to the Dow Jones Industrial Average fell 8 points, futures for the S&P 500 were down 0.75 points, and Nasdaq futures rose 7 points.

The economic calendar in the U.S. Wednesday includes International Trade for November at 8:30 a.m. ET, Productivity and Costs for the fourth quarter at 8:30 a.m., and Oil Inventories for the week ended Feb. 1, at 10:30 a.m.

Eli Lilly and Co. (LLY) posted weaker-than-expected fourth-quarter earnings and lowered its 2019 profit guidance to reflect the impact of its planned acquisition of Loxo Oncology Inc.  (LOXO) . The stock fell 1.5%.

Earnings reports are expected also Wednesday from General Motors Co. (GM) , Chipotle Mexican Grill Inc. (CMG)  and GoPro Inc. (GPRO)  .

2. -- Donald Trump's State of the Union

In his State of the Union address Tuesday night, Donald Trump appealed for greater unity among Americans, an aspiration that seemed at odds with the divisive rhetoric he employs when making reference to adversaries, many of whom were in the audience. 

The 90-minute address was among the longest ever, based on data compiled by the American Presidency Project at the University of California at Santa Barbara. The theme of the speech, according to the White House, was "choosing greatness." Trump also touted a strong economy, and emphasized his call for border security.

"Together, we can break decades of political stalemate, we can bridge old divisions, heal old wounds, build new coalitions, forge new solutions, and unlock the extraordinary promise of America's future," Trump said.

The State of the Union address was delayed a week because of the recent 35-day federal government partial shutdown, prompted by the debate over Trump's proposed border wall with Mexico.

The deadline to fund the government and avoid another shutdown is Feb. 15. Democrats have refused to acquiesce to Trump's demands for a border wall, and Republicans are increasingly unwilling to shut down the government to help him fulfill his signature campaign pledge. The GOP also doesn't support Trump's plan to declare a national emergency if Congress won't fund the wall.

In the Democratic response to the state of the union address, Georgia lawyer and former gubernatorial candidate Stacey Abrams blamed the government shutdown squarely on the Trump administration calling it a "stunt engineered by the president of the United States." 

3. -- Walt Disney Rises as Earnings Beat Forecasts

Shares of Walt Disney Co. (DIS) rose 0.3% in premarket trading Wednesday after the media giant's fiscal first-quarter earnings and revenue beat Wall Street estimates.

Adjusted earnings in the quarter were $1.84 a share, better than forecasts of $1.55. Disney reported revenue of $15.3 billion, topping analysts' estimates of $15.05 billion.

Media networks revenue of $5.9 billion rose 7% as did operating income. Revenue from the company's theme parks rose 4.6% to $6.8 billion.

Disney, which is buying the bulk of media assets from Twenty-First Century Fox Inc.  (FOXA) in an effort to challenge online streaming services from Amazon.com Inc.  (AMZN) and Netflix Inc.  (NFLX) , said it will unveil its own digital offering, Disney+, at its investor day on April 11. The move to bring Disney content onto that platform, however, will mean foregoing licensing revenue earned from other providers, and likely will clip $150 million from Disney's operating income over the course of the year, the company told investors, with most of it weighted in the final two quarters.

"The one headwind we would call out for the Investor Day is that we may learn of additional expenses associated with building out that Disney+ platform," wrote Jim Cramer and the Action Alerts PLUS team, which holds Disney in its portfolio. "However, we believe this is largely expected and partially to blame for shares being unable to breakout to new levels."

4. -- Snap Soars as Losses Narrow, User Growth Stabilizes

Snap Inc. (SNAP) , parent company of Snapchat, jumped 22.2% in premarket trading Wednesday after the social media company's fourth-quarter loss was narrower than expected. 

Snap posted an adjusted loss of 4 cents a share, narrower than Wall Street's call for a loss of 8 cents. The GAAP loss was 14 cents a share, narrower than estimates of a loss of 19 cents. Revenue in the quarter was $390 million, beating expectations of $377.5 million. 

Snap reported daily active users of 186 million in the fourth quarter, flat with the previous quarter, and average revenue per user of $2.09 vs. analysts' expectations of 184.3 million users and average revenue per user of $2.05.

Snap said it expects revenue of between $285 million and $310 million in the first quarter, and said beta testing of its app for Android devices could significantly boost user growth in the coming year.

"A lot of the drag we were seeing on (daily active users) is coming from Android," CEO Evan Spiegel told investors on a conference call. "We've shifted most of our resources internally to the rebuilded Android, and so we are really waiting for that to roll out broadly. So we continue to improve Android experience."

"I think for us, broadly speaking, the way to think about it, in terms of Android opportunity, there's roughly 2 billion or so or maybe more 2 billion people who are on Android and don't have Snapchat. So we can take a few percent market share there to make a real different story," he added.

5. -- Apple's Retail Chief to Depart

Apple Inc. (AAPL) said its retail chief, Angela Ahrendts, will be leaving the company in April "for new personal and professional pursuits."

Ahrendts's replacement will Deirdre O'Brien, who now serves as head of human resources at the tech giant. Her title will be senior vice president of retail and people.

"The last five years have been the most stimulating, challenging and fulfilling of my career," Ahrendts said. "Through the teams' collective efforts, retail has never been stronger or better positioned to make an even greater contribution for Apple." 

Ahrendts joined Apple in 2013. She had been CEO of fashion house Burberry.Apple is a holdings in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells AAPL? Learn more now. 

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