Wall Street may rack up 7th consecutive week of losses this week

NEW YORK: Don't be surprised if Wall Street racks up a seventh consecutive week of losses as the likelihood of more poor economic data and other disconcerting signals outweigh any thoughts that stocks are cheap.

After closing at its highest level in nearly three years on April 29, the S&P 500 has tumbled nearly 7% on the back of a barrage of soft economic data, sparking the debate over whether the economy is headed for a double-dip, or has merely hit a soft patch in its recovery.