Marginal improvement is the expectation for Thursday's core CPI rate, enough to boost risk appetite for Monday's session that saw the Nasdaq jump 2.1 percent while the 10-year yield fell 4 basis points to 4.01 percent as demand for Treasuries eased.

Econoday's consensus is calling for a 0.2 percent monthly rise for December's CPI, which would be down from 0.3 percent in November, with the annual rate expected to ease 2 tenths to 3.8 percent. This contrasts slightly with expectations for the overall rate where the monthly rate is also seen at 0.2 percent but the annual rate at 3.2 percent which would be a 1 tenth rise.

In contrast to the Nasdaq, the Dow managed only a 0.5 percent gain, held down by an 8.0 percent loss for Boeing after a flight door blew off a brand new 737 Max 9 late Friday. The incident has raised new questions whether Boeing is cutting corners. Spirit Aerosystems which made the door fell 11.0 percent.

Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.

Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.