Moody's downgrade of the U.S. sovereign credit rating late Friday appeared to have a modest impact on corporate bond market activity on Monday, as spreads widened slightly and new bond sales started the week softer than expected.

Investors will get the first chance to react to Moody’s downgrade of the U.S. credit rating late Friday over rising government debt and they’ll also look for more progress from President Trump on trade deals as the week kicks off.

White House National Economic Council Director Kevin Hassett criticized Moody’s Ratings over its decision to lower the US credit rating, calling the move backward-looking and saying the Trump administration is committed to lowering federal spending.

Bitcoin sold off from $107,000 due to profit taking, and the recovery back to $105,000 is a sign that multiple bidders expect higher prices in the near future.

U.S. stock futures point to a lower open, a day after stocks made a comeback to close higher despite Moody's stripping the U.S. of its top AAA rating.

Treasury Secretary Scott Bessent downplayed the U.S. credit downgrade as a "lagging indicator" of economic and fiscal conditions, after Moody's took the U.S. off its top tier.