Dow Futures Higher Ahead of Disney Earnings, Trump Speech
The State of the Union will be in focus tonight
U.S. stock futures are modestly higher this morning, though the Nasdaq-100 Index (NDX) is lagging its peers amid concerns about rising costs for Google parent Alphabet (GOOGL) after last night's quarterly report. Dow Jones Industrial Average (DJI) futures are trading above fair value ahead of earnings from blue chip Walt Disney (DIS) tonight, and traders are also anxiously awaiting President Donald Trump's State of the Union speech this evening. Wall Street will dissect the president's comments ahead of the Feb. 15 deadline to avoid another government shutdown, and prior to a March 1 deadline for a U.S.-China trade deal.
Continue reading for more on today's market, including:
Why a 2011 repeat could play out for stocks, according to Schaeffer's Senior V.P. of Research Todd Salamone.Urban Outfitters just flashed a historic bear signal.Analyst: Apple should buy this speaker maker.Plus, analysts punish Gilead; Estee Lauder earnings impress; and the food stock smacked by a downgrade. 
5 Things You Need to Know Today
The Chicago Board Options Exchange (CBOE) saw 1.00 million call contracts traded on Monday, compared to 597,181 put contracts. The single-session equity put/call ratio remained at 0.60, and the 21-day moving average stayed at 0.63.Gilead Sciences, Inc. (NASDAQ:GILD) stock is down 3.3% ahead of the bell, after the company's quarterly earnings fell short of estimates. No fewer than four analysts have cut their price targets on GILD, including to $76 from $79 at Baird. GILD stock closed Monday at $70.05.Estee Lauder Companies Inc (NYSE:EL) stock is up 10.2% in pre-market trading, after the cosmetics company reported stronger-than-expected earnings and revenue for its fiscal second quarter. The firm also hiked its full-year forecast. EL shares finished Monday at $136.17.Outside of earnings, Kraft Heinz Co (NASDAQ:KHC) shares are pointed 1% lower in electronic trading, after Deutsche Bank downgraded the stock to "hold" from "buy," and cut its price target by $6 to $52. KHC stock has been on a tear since its Dec. 26 intraday low of $41.60, but has run into a wall around its 60-day moving average, ending yesterday at $47.73.Today's economic calendar features the Institute for Supply Management (ISM) non-manufacturing index. Snapchat parent Snap (SNAP), 21st Century Fox (FOXA), Allstate (ALL), Electronic Arts (EA), Lumentum (LITE), Ralph Lauren (RL), Skyworks Solutions (SWKS), Tableau Software (DATA), and Viacom (VIAB) will report earnings.
Earnings Lift European Stocks
Stocks in Asia were muted, with most markets closedfor the Lunar New Year. Japan's Nikkei, however, gave back early gains and finished 0.2% lower despite a weakening yen. South Korea's Kospi will reopen on Thursday.
Meanwhile, in Europe, markets are surging higher thanks to a slew of upbeat corporate earnings. London's FTSE 100 is up 1.3% at last check, driven by an earnings beat from energy giant BP. Elsewhere, the German DAX and French CAC 40 are both up 1.1%, as investors digest a monthly decline in eurozone retail sales that arrived in line with expectations.