No important economic data from US this week, only trade balance and initial claims to observe on Tue and Thu respectively.
US stock market continued decline on Fri, following weakening labor market conditions and earnings from big tech companies last week.
In expectations of rate cut, big shots are reducing portfolios. The situation may last until we actually see the first rate cut in the cycle and longer.
The rise in stocks is usually associated with low interest rate, I would expect the adjustment in S&P to continue along the path of rate cut. So investors should differentiate between rate cut action and low interest rate, which are presented as two distinguished market conditions.