NEW YORK (Reuters) - Stocks will start the second half of 2008 staring into the jaws of a bear market.At Friday's closing bell, it looked like there was little relief in sight from runaway oil prices and the lack of reassurances from bank about their already gloomy outlooks.
Investors will face a blitz of economic data in the holiday-shortened week, with the marquee number coming in Thursday's payrolls report for June.
Recession fears are rising with crude oil's dizzying spiral to a succession of record highs and the relentless stream of forecasts for more bank write-downs. When the second quarter ends on Monday, the U.S. market may finish June with its worst monthly percentage decline since September 2002.
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