US equities lower this week, with the S&P notching its seventh-straight weekly decline. The S&P dipped into bear-market territory during Friday trading before recovering in the hour before the bell. No defining catalyst for the week, with the focus remaining on the Fed's attempt to engineer a "softish" landing, China's Covid lockdowns, and (to a lesser extent) the war in Ukraine. Retailers were a key focus this week, with some weak reports (WMT, TGT) raising questions about consumer spending and margins.