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Here are five things you must know for Tuesday, Feb. 7:

1. -- U.S. stock futures were higher Tuesday ahead of earnings reports from the likes of General Motors (GM - Get Report)  and Walt Disney (DIS - Get Report) .

Stocks pulled back on Monday, driven by uncertainty over potential policy moves from Donald Trump's administration.

"Everybody is still trying to process some of the political developments that we have had recently," Brad McMillan, chief investment officer at Commonwealth Financial Network, said in a phone interview. "There's a lot of reassessment going of some of those positive expectations. I think that's why you are seeing the pullback."

Meanwhile, Philadelphia Federal Reserve Bank President Patrick Harker said Monday that an interest-rate hike should be on the table at the central bank's next meeting in March.

"I still am supportive of three rate hikes this year, of course with a major caveat depending on how the economy evolves and policy, fiscal policy evolves," Harker told reporters after a speech on regulatory policy for fintech firms, Reuters reported. "I think March should be considered as a potential for another 25-basis point increase."

The economic calendar in the U.S. on Tuesday includes International Trade for December at 8:30 a.m. EST and the Job Openings and Labor Turnover Survey for December at 10 a.m.

2. -- Shares of BP  (BP - Get Report)  were tumbling Tuesday after the oil giant posted fourth-quarter earnings below forecasts despite a rise in global oil prices.

Earnings in the quarter were 13 cents a share, below analysts' expectations of 16 cents. Revenue of just more than $51 billion rose 3.7% from a year earlier but missed forecasts of $54.7 billion.

BP said underlying replacement cost profit, the industry's preferred measure of earnings, rose to $400 million in the fourth quarter from $196 million a year earlier. Analysts were expecting $560 million.

The company said it expects to reduce capital investment in the business to between $16 billion and $17 billion this year, down from $19.5 billion in 2015.

3. -- Earnings are also expected Tuesday Zillow  ( Z - Get Report) , Take-Two Interactive  ( TTWO - Get Report) , Archer Daniels Midland  ( ADM - Get Report) ,   Buffalo Wild Wings  ( BWLD) , Michael Kors  ( KORS) , Mondelez  ( MDLZ - Get Report) , Yum! China  ( YUMC - Get Report) , Panera Bread ( PNRA) and  Gilead Sciences  ( GILD - Get Report) .

Panera Bread is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells PNRA? Learn more now. 

4. -- Gap  (GPS - Get Report) shares rose 2.3% in after-hours trading on Monday after the San Francisco-based retailer reported that its sales in the fourth quarter and in January rose in what was generally a dismal holiday season for retailers.

Gap said net sales rose 2% to $828 million for the four weeks ended Jan. 28, from sales last January of $813 million. For the quarter, net sales increased 1% to $4.43 billion vs. last year's fourth-quarter sales of $4.39 billion.
Analysts surveyed by  Factset expected Gap to report fourth-quarter revenue of $4.4 billion.
Same-store sales in January increased 1%, and were up 2% in the fourth quarter. In January 2016, Gap's same-store sales fell 8% and slipped 7% in the fourth quarter of 2015.

5. -- Honda (HMC - Get Report) signed a deal with Hitachi Automotive Systems to jointly develop, make and sell motors for electric vehicles.

Honda, which also makes its own electric motors, is making a big push into electric cars. It's planning an electric vehicle for sale later this year, mostly abroad.

The joint venture will have manufacturing and sales operations in the U.S. and China, the Associated Press reported.