Here's everything investors need to know on Monday, as markets sour after Friday's strong jobs report. 

Futures were lower as Friday's strong jobs report has investors weighing about a 6% chance for a 50 basis point Fed rate cut. Danielle DiMartino Booth, former adviser to the president of the Dallas Fed and Founder and CEO of Quill Intelligence told TheStreet "I wouldn't go any more aggressive than the 25 basis points." She noted the Fed only has nine cuts to use, so "if I'm the Fed, I am trying to conserve my ammunition right now." 

Federal Reserve Chairman Jerome Powell will deliver his semi-annual testimony to both House and Senate financial committees later.

Deutsche Bank (DB - Get Report) , RealMoney's stock of the day, expects to slash 18,000 jobs by 2022 and create a so-called bad bank for around €74 billion in underperforming assets. The stock is down 75% in the last 5 years with several problems, some of which are unrelated. 

Morgan Stanley (MS - Get Report) reduced its outlook on global stocks to underweight, the weakest in five years, citing falling bond yields, expensive valuations. Investors are hoping the lower rates will spur growth. 

Saudi Arabia's budget airline, flyadeal, said it would buy up to 50 Airbus A320neo planes and wouldn't proceed with a $5.9 billion order for Boeing 737 MAX planes (BA - Get Report) .  

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