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What to Watch Today: Wall Street Looks Higher After S&P 500, Nasdaq's Best Weeks of 2022

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BY THE NUMBERS

U.S. stock futures rose Monday after the S&P 500 and the Nasdaq Composite logged their best weeks of the year, boosted by Friday's best one-day gain since 2015 following Amazon's strong quarterly earnings report. The Nasdaq, however, remained in a correction. (CNBC)

The Dow bucked Friday's uptrend, closing lower. But the 30-stock average did also post a gain for the week. Beaten-up tech stocks were able to bounce Friday despite the better-than-expected January employment report pushing the 10-year Treasury yield to nearly 1.94%. The benchmark yield ticked lower Monday, but it was still above 1.9%. (CNBC)

Key inflation data is out on Thursday, with consumer prices in January expected to rise 7.3% year over year. Earnings are slowing down a bit after last week's wild ride. Dow stock Disney is scheduled to report quarterly results after the closing bell Wednesday. (CNBC)

IN THE NEWS TODAY

Frontier Airlines, owned by private equity firm Indigo Partners, and Spirit Airlines (SAVE), the two largest low-cost carriers in the U.S., have agreed to merge, creating what would become the fifth-largest airline in the country. The deal is valued at $6.6 billion, is structured with Frontier Airlines. Spirit jumped more than 12% and Frontier Group was off 3% in Monday's premarket. (CNBC)

Peloton (PTON) shares, which have been battered in recent months, soared 30% in Monday's premarket after The Wall Street Journal on Friday reported e-commerce giant Amazon has approached the company about a potential deal. The Financial Times separately reported that sneaker maker Nike is evaluating a bid for Peloton.

* Here's why a Peloton buyout might not happen (CNBC)

Dating service operator Bumble (BMBL) announced the acquisition of European dating app company Fruitz for an undisclosed amount, Bumble's first-ever acquisition deal. Fruitz is especially popular among Gen Z consumers. (CNBC)

Ford (F) shares fell in the premarket after the automaker confirmed late Friday that it's cutting production this week on the Ford Bronco and Explorer SUVs; the Ford F-150 and Ranger pickups; the Ford Mustang Mach-E electric crossover; and the Lincoln Aviator SUV at plants in Michigan, Illinois, Missouri and Mexico due to an ongoing global shortage of semiconductor chips. (CNBC)

Spotify (SPOT) shares, also ravaged recently, fell 1% premarket trading, with CEO Daniel Ek on Sunday apologizing to the audio streamer's workers for podcaster Joe Rogan's past racist language. "I want to make one point very clear — I do not believe that silencing Joe is the answer," said Ek, whose company reportedly paid $100 million to exclusively host Rogan's podcast. (AP)

Rogan apologized Saturday after Grammy award winning singer-songwriter India Arie posted clips of him using the N-word on some past episodes while she pulled her music from Spotify in protest. Other musicians have recently pulled their music from Spotify, saying Rogan's show propagated Covid-19 vaccine misinformation. (Reuters)

* NYC Mayor Eric Adams apologizes for using racial slur for white people (AP)

New Jersey Gov. Philip D. Murphy, a Democrat who has imposed some of the nation's most stringent pandemic-related mandates, will no longer require students and school employees to wear masks, signaling a deliberate shift toward treating the coronavirus as a part of daily life. (NY Times)

A Biden administration task force on organized labor issued Monday a set of recommendations that could make it easier for federal workers and contractors to unionize. The report argues that a decades-long drop in union membership has coincided with a rising share of income going to the top 10% of earners. (AP)

France's President Emmanuel Macron heads to Russia on Monday with one aim on his mind: Receiving assurances from Moscow that it will start to de-escalate tensions on the Ukrainian border. "We will discuss the terms to de-escalate," Macron told the French publication Le Journal du Dimanche ahead of his trip to Russia.

The climate pledges of the world's largest companies plan to reduce absolute carbon emissions by just 40% on average, not 100% as suggested by their net-zero claims, according to a study of 25 corporations. The analysis was published Monday by non-profit organizations NewClimate Institute and Carbon Market Watch. (CNBC)

STOCKS TO WATCH

Energizer (ENR), best known for its batteries, saw its stock surge 5.7% in premarket trading after reporting better-than-expected quarterly results. Energizer beat estimates by 8 cents share, with a profit of $1.03 per share. Revenue also topped Wall Street forecasts. Energizer warned the current operating environment remains "very volatile."

Hasbro (HAS) added 2.2% in premarket trading after the toymaker beat top- and bottom-line estimates for its latest quarter. Hasbro earned $1.21 per share, well above the 88 cents a share consensus estimate. Revenue in its television, film and entertainment business jumped 61% from a year earlier. Hasbro also increased its quarterly dividend by 3% to 70 cents per share.

Tyson Foods (TSN) rallied 4.2% in the premarket following its quarterly earnings report. The company beat estimates by 97 cents a share, with quarterly earnings of $2.87 per share. The beef and poultry producer's revenue also beat analysts' forecasts. Tyson said it was on track to achieve $1 billion in productivity savings by the end of fiscal 2024.

Snowflake (SNOW) rallied 4.8% in the premarket after Morgan Stanley upgraded it to "overweight" from "equal-weight," saying investors are undervaluing the cloud data platform provider's potential for durability and quality of growth.

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