And the market says ... Trump/Kim meeting was a snoozer: Donald Trump went to Singapore, said North Korea's beaches would be good for condos and hotels and crushed Kim Jong Un's hand during their highly watched handshake. What's more, the tone of the meeting was positive and Trump likely hopped aboard Air Force One thinking he was one step closer to a Nobel Peace Prize. TheStreet's Kinsey Grant has all you need to know on this historic meeting. The market's muted reaction to the upbeat gathering should leave investors on high alert for a big move from the Federal Reserve on Wednesday, and a meeting of the European Central Bank on Thursday. Dial up those defensive trades, bulls.  

What's happening: Bankers are waiting on pins and needles for the decision from U.S. District Judge Richard Leon on whether to block the AT&T (T) - Get Report  and Time Warner (TWX) deal. The decision is expected to come at 4 p.m. ET -- TheStreet will have live instant analysis from Washington. The outcome on this could impact a pending deal such as Cigna's (CI) - Get Report play for Express Scripts (ESRX) and future deals, say Amazon (AMZN) - Get Report making a serious push into the healthcare space. Investors are positioned for a positive outcome from Leon: The spread between AT&T's offer price of $102.87 and Time Warner's stock price of $96.17 is smaller than when the lawsuit to block the deal was filed in November. Shares of Time Warner have run up 3.1% over the past five sessions. But hey, all of that may end up meaning a hill of beans. Meanwhile, TheStreet is on the ground in Boston Tuesday to exclusively cover Stifel Financial's (SF) - Get Report annual institutional investor conference. The conference is impressive in its depth: 300 companies presenting to a crowd of more than 2,000 attendees. With a host of key interviews planned, I encourage you to submit questions to me on Twitter @BrianSozzi. If you are wondering about the future of investment banking or trying to gain an inside edge on the markets, this type of conference provides just that --- and we can share what we learn in real-time.  

Around the horn: Not worried about the market being overheated? Chew on these data points from my friends at Bespoke Investment Group: (1) "The S&P 500 I:GSPC ended last week right at two standard deviations above its 50-DMA -- First time since the January highs prior to the correction"; (2) "All S&P 500 sectors are above their 50-day moving averages with the exception of Utilities." The Fed meeting is likely to be that catalyst for a breather in the markets. Staying on the theme of the market being overvalued, some new data out of Bank of America Merrill Lynch is worth deeper reflection. About 64% of fund managers surveyed think the U.S. has the most favorable profit outlook, a 17-year high. These same investors have piled into U.S.-focused stocks such as FANG (Facebook (FB) - Get Report , Apple (AAPL) - Get Report , Neflix (NFLX) - Get Report , Google (GOOGL) - Get Report ) names. Yet they may not be truly putting their money where their mouths are: The survey showed that fund manager allocation to equities has slipped to net 33% overweight equities, not too far removed from an 18-month low of 29% in April. For you food fans, IHOP's faux name change (to promote a new burger menu) makes sense based on what Dine Brands (DIN) - Get Report CEO told TheStreet about its core customer. Electronic Arts (EA) - Get Report shares will open at a record high Tuesday as investors continue to digest a positive showing during E3 convention week. The positive news out of EA, Activision Blizzard (ATVI) - Get Report and Microsoft (MSFT) - Get Report has begun to weigh on shares of "Grand Theft Auto" maker Take-Two Interactive (TTWO) - Get Report .