Friday's rally was ferocious but left out consumer discretionary and communication services. Futures are down this morning due to profit-taking, not a market-changing event.

This week has important economic data: retail sales tomorrow, delayed jobs report Wednesday, CPI Friday. Last week's labor data was weak, putting focus on jobs number.

Earnings continue with volume but not high-profile names. Market starting the week slightly softer.

Japan election matters because yen is rallying and US dollar is down significantly. Lower dollar is good for US multinationals as their goods become cheaper for foreign buyers.