Good morning all,

Futures are down slightly after we saw a downgrade by Moody's late Friday at the close. They changed the outlook on US debt from positive to negative. Their actual rating of AAA investment grade on the US debt remains the same. It's not the biggest news in the world. But it's noticeable enough that we are seeing a slight reaction.

It will be a big week for retail. Home Depot, Target, Ross Stores, Macy's, and some others report this week. Alibaba reports earnings on Thursday. Those stocks have been nothing but ugly. Maybe there's some upside because of that. It might be worth paying attention to.

MNDY blew away expectations. In fact, they more than doubled the expected net income. They beat on the top line and raised guidance for next quarter and the entire year. The stock is up almost 8% pre-market and will be something to focus on this morning.

LLY has been quite a home run for the past few months and it is seacting to positive news from NVO. A couple more things to watch there.

The big news of the week will be CPI tomorrow. After the move we've had, it better be light, or else the market will likely give back some of the recent strength.
We will see what develops.

-DP