In a week lacking big catalysts, market momentum has stalled somewhat as investors look for fresh clues on the monetary policy outlook, after softer-than-expected payrolls data last week fueled bets of one or two rate cuts this year. Money market traders are pricing in U.S. rate cuts of 43 basis points (bps) by the end of 2024, according to LSEG's rate probabilities app. Market focus will shift to weekly jobless claims data and remarks from San Francisco Fed President Mary Daly during the day.