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Stock Market Today - 2/7: Dow Squeaks into the Green as Markets End Mixed

The Dow ends marginally higher as Wall Street looks to escape from its early February doldrums.

Updated at 4:10 pm EST

Stocks finished mixed Monday, while oil prices eased and Treasury bond yields held in check, as investors peeled away from risk markets amid rising geopolitical tensions in Europe and indications of faster rate hikes from the Federal Reserve.

The Dow Jones Industrial Average finished up 1.39 points, essentially flat at 35,091, while the S&P 500 lost 0.37% and the tech-focused Nasdaq Composite dropped .058%.

Last week's January employment report, which showed a stunning increase in new job for the first month of the year, as well as upward revision for December and November, cemented the Fed's case for an aggressive stance on inflation, which is running at the hottest pace in more than forty years.

The CME Group's FedWatch tool is pricing in a 100% chance of a March rate hike, with more than a third of those bets suggesting the Fed may increase its benchmark rate by 50 basis points, while the chance of a follow-on move in June is now pegged at around 38.5%.

That rate risk is begin coupled with concern that Russian President Vladmir Putin, who is due to hold talks with France Emmanuel Macron later today, could launch a military incursion into the Ukraine "within days", according to White House Security Advisor Jake Sullivan.

Benchmark 10-year Treasury note yields, which move inversely to prices, held at 1.92%, the highest since January of 2020, while oil prices eased from their seven-year peak on Friday to trade at $91.40 per barrel.

The Commerce Department's January inflation report will highlight a thin calendar of earnings and economic releases this week, following on from last week's stronger-than-expected jobs reports showed that annualized wage gains were up 7.7% over the three months ending in January, a move that would demand faster and more aggressive action from the Fed if it were to be sustained over the first half of the year.

Around 82 S&P 500 companies will report December quarter updates this week, including Pfizer  (PFE) - Get Free Report, Walt Disney  (DIS) - Get Free Report, CVS Health  (CVS) - Get Free Report PepsiCo  (PEP) - Get Free Report, Coca Cola  (KO) - Get Free Report and Twitter  (TWTR) - Get Free Report.

With around just over half of the S&P 500 reporting so far, collective fourth quarter earnings are expected to grow 27.2% from last year to a share-weighted 448.4 billion. That pace will slow markedly over the first three months of the year, however, with forecasts indicated a 7% growth rate and share-weighted earnings of $438.2 billion.

Peloton  (PTON) - Get Free Report shares surging 21% following multiple media reports that suggest Amazon  (AMZN) - Get Free Report is preparing a potential takeover bid for the connected fitness equipment maker.

Britain's Financial Times also reported potential interest from Nike  (NKE) - Get Free Report, one of the companies pushed by Blackwells Capital LLC boss Jason Aintabi as a possible suitor.

Ford  (F) - Get Free Report shares fell around 0.5% after the carmaker said it will halt production at eight north American factories, including one that produces the F-150 pickup, for at least the next week amid the ongoing shortage in semiconductor supplies.

Spotify  (SPOT) - Get Free Report shares lost 1.7%, after the music sharing platform found itself entangled another controversy involving podcast host Joe Rogan.

Hasbro  (HAS) - Get Free Report shares fell nearly 1% after the toymaker posted stronger-than-expected fourth quarter earnings thanks to a jump in brand-partners sales and a rebound in its entertainment business.

In overseas markets, Europe's Stoxx 600 was marked 0.81% higher while Japan's Nikkei 225 closed 0.7% lower at 27,248.87 points.