Jake Novak's Morning Business Briefing 2/6

STOCKS/ECONOMY

-Stock futures are flat after Wednesday's 317-point gain for the Dow, smaller 0.4 percent rise for the S&P 500, and 0.2 percent blip higher for the Nasdaq. Investors are focusing on several key earnings reports today ahead of tomorrow's January jobs report.

-The yield on the 10-year Treasury bond is at 4.43 percent.

-Gold is at the $2,883 per ounce level. Bitcoin is at the $98,700 level.

-Asian markets closed higher today. The Hang Seng rallied 1.4 percent higher, the Nikkei gained 0.6 percent, and Shenzhen surged 2.3 percent ahead.

OIL/ENERGY

-U.S. crude prices are higher but still at the $71 a barrel level.

-Gasoline prices are up to $3.13 a gallon, national average.

EARNINGS SCORECARD

-Eli Lilly (LLY) posted better than expected quarterly profits, but missed revenue expectations. That's despite strong sales for its weight loss drug Zepbound and diabetes treatment Mounjaro. Eli Lilly shares are up 1 percent in the premarket.

-Bristol Myers Squibb (BMY) reported better than expected quarterly profits and revenues, but also provided disappointing forward earnings guidance. Its shares are down 6 percent in the premarket.

-Ford (F) reported better than expected quarterly profits and revenues, but warned that the current year will see tougher sales numbers. It shares are down 6 percent in the premarket.

-Peloton (PTON) reported better than expected quarterly revenues despite posting a larger than expected loss. Investors like Peloton's cost-cutting plans, and its shares are up 16 percent in the premarket.

-Yum Brands (YUM) reported better than expected quarterly profits and revenues, thanks greatly to Taco Bell's sales. Yum shares are up 3 percent in the premarket.

-Chipmaker Qualcomm (QCOM) reported better than expected quarterly profits, revenues, and issues strong forward guidance. But its shares are still down 5 percent in the premarket.

BROKEN HONEY

-Honeywell (HON) announced plans to split into three separate companies. The move came under pressure from activist investor Elliott Management. Honeywell shares are down 3 percent in the premarket.

DEI DYING

-Google says it's scrapping some of its "diversity aspirations," saying that putting DEI programs into place could jeopardize its federal government contracts. Google parent Alphabet (GOOGL) shares are down 1 percent in the premarket.