Wall Street avoided a bear market, but that is unlikely to hold. Markets fell into a bear market during the trading day but rallied back to barely finish in the green. The S&P 500 finished the day up half a point, or 0.01%, which puts the index down 18.6% from the high in January. A bear market is when an index falls 20%. With the S&P recording a down week for the 8th week in a row it seems likely that next week will make the bear market official.
- The 10-year was down 8 basis points to close out the week at 2.788%
- Oil ended the day at $112 a barrel.