Inflation does combine to put us squarely into bear market territory. Housing prices have now officially started to fall (again, in nominal dollars).
What I still can't figure out is the job market. It just seems to be going, and going, and going, and going. I get the push for re-shoring and all that, but the US$ is at a multi decade high, and exports are, necessarily, getting clobbered.
Who in the world is making the payroll on all these people?
The S&P company’s earnings reports should tell us the answer to your last question.