The week in review, the week ahead — July 1, 2022
A trader works on the floor of the New York Stock Exchange (NYSE), June 27, 2022.
Brendan McDermid | Reuters
The first day of the new month, the third quarter and the second half of the year ended on a positive note Friday, heading into a long holiday weekend. The stock market is closed on Monday for July 4th. Perhaps, it’s a welcome breather after Wall Street on Thursday wrapped up a terrible first half of 2022.
The S&P 500 posted its worst six-month start to a year since 1970. From January to the end of June, the broad market index lost nearly 21% and fell into bear market territory, defined as a drop of more than 20% from a prior high, which was a record in early January.