Market Coverage – Friday May 27 Yahoo Finance

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Get the latest up-to-the-minute continuous stock market coverage and big interviews in the world of finance every Monday–Friday from 9 am to 5pm (ET).

S. stocks rose on Friday, setting the major indexes on track to end a weeks-long losing streak after a string of more upbeat corporate results at least temporarily offset fears of a steep economic slide.

The S&P 500 gained. The blue-chip index headed for a 4% weekly advance as of Thursday’s close, which if maintained, would mark its largest since mid-March. The S&P 500 had fallen for the seven consecutive weeks prior in its longest losing streak since 2000. The Dow Jones Industrial Average and Nasdaq each also increased on Friday.

Investors digested a fresh set of economic data Friday morning, including the latest print on core personal consumption expenditures (PCE) — the Federal Reserve’s preferred gauge of underlying inflation. These showed inflationary pressures eased only modestly in April compared to March, echoing results from the still-elevated Consumer Price Index and Producer Price Index released from earlier this month. Headline PCE increased 6.3% in April over last year compared to March’s 6.6% increase, and core PCE rose by 4.9% compared to 5.2% in the prior month. But separate data also showed personal spending, adjusted for inflation, accelerated in April compared to March.

Over the past several sessions, investors have weighed favorably the most recent batch of quarterly results and guidance from retailers like Macy’s (M), Nordstrom (JWN), Dollar General (DG) and Dollar Tree (DLTR). These companies largely exceeded Wall Street’s estimates, helping assuage concerns that the profit pressures reported recently by Walmart (WMT), Target (TGT) and Kohl’s (KSS) were reverberating equally across all consumer-facing firms. And outside of retail, airlines including JetBlue (JBLU) and Southwest (LUV) raised their sales guidance for the current quarter, suggesting demand remained strong for discretionary travel.

“Overall the U.S. consumer still remains in great shape. They came into these price hikes, this inflation, with cushion on their balance sheet. Certainly employment is high, so the overall U.S. consumer remains in a very strong place,” Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management, told Yahoo Finance Live.

“The big fear was that inflation was going to continue to run away and cause the Fed to have to tighten the U.S. economy into a recession,” he added. “I think we’re all starting to gradually wake up to the reality that goods spending … was pulled forward. Inventories have been rebuilt, and goods spending has caused the inflation that you’re seeing. That’s going to roll over as people move over to service sector spending.”

“And so it may feel like a recession in some parts of the economy, but other parts of the economy are going to do well,” Schutte said. “Inflation is going to fall, and the Fed is going to go a bit easier.”

However, other strategists cast doubt on the staying power of gains seen in the market so far this week, especially as inflation has shown few meaningful signs of coming down in a substantial way to date.

“This is nothing more than a bear bounce in our opinion. When you look at these bounces we’ve had, they’ve been on very light volume, there’s not a lot of conviction,” Eddie Ghabour, co-founder and managing partner of Key Advisors Group, told Yahoo Finance Live. “The data that we’re getting now that’s been causing this sell-off, remember, is first-quarter data. The data coming in the second quarter is going to be worse than the first quarter. And we’re not going to get that news until July … So I think we’re going to have a very treacherous market in the next few months.”

9:32 a.m. ET: Stocks open higher
Here were the main moves in markets as of 9:32 a.m. ET:

S&P 500 (^GSPC): +32.86 (+0.81%) to 4,090.70

Dow (^DJI): +56.27 (+0.17%) to 32,693.46

Nasdaq (^IXIC): +165.04 (+1.41%) to 11,905.69

Crude (CL=F): -$0.12 (-0.11%) to $113.97 a barrel

Gold (GC=F): +$10.30 (+0.56%) to $1,864.20 per ounce

10-year Treasury (^TNX): -3.1 bps to yield 2.7250%

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The 2023 Global Healing Festival by Embodied Black Girl Returns, Disrupting Grind Culture and Centering Rest

The free one-day festival featuring today's visionary thought leaders will take place online on June 9, 2023

The Global Healing Festival by Embodied Black Girl returns for its fourth annual festival on June 9, 2023. The festival is the first of its kind and nourishes the healing and liberation of Black women and women of color while enlivening culture change and making wellness, somatics and mental health more accessible to the communities that need it most. 

Every year the free grassroots virtual festival attracts thousands of participants around the world, primarily through word of mouth.  

Curated by the global wellness and leadership education platform, Embodied Black Girl, the day-long online, interactive and immersive festival experience, includes in-depth workshops and thought-provoking conversations with today's leading visionary cultural shapers.

This year's theme, The Future is Embodied: The Rest-volution, is an invitation to enter the dream space and leave grind culture behind. In spite of the grim statistics and policies that impact Black women in particular, we root for a vision of joy, hope and self-determination.

In keeping this festival free through the years, our hope is to make wellness, somatics and mental health more accessible to Black women and folks of color and, in turn, create a world where we are seen, held and empowered. In this space, rest is life and our bodies transform into revolutionary portals and oracles for liberation. 

The festival will be hosted by Embodied Black Girl founder Thérèse Cator, who'll be joined by honored guests: 

  • Tricia Hersey, founder of The Nap Ministry and NYT Bestselling Author of Rest is Resistance 
  • Dr. Jennifer Mullan, founder of Decolonizing Therapy and author of the forthcoming book Decolonizing Therapy: Oppression, Historical Trauma and Politicizing Your Practice (W. W. Norton & Company)
  • Tigidankay "TK" Saccoh, founder of The Darkest Hue, a digital platform that centers the experiences and perspectives of dark-skinned Black girls, women, and femmes 
  • Natalee Facey, Resilience Coach and Birth Doula 

The festival will explore questions like…

  • How does rest support our individual and collective liberation?
  • How can we move beyond a cognitive understanding of rest to an embodied knowing of rest?
  • How can we foster deeper embodiment while having difficult and necessary conversations within our family and communities?
  • What dreams are we here to birth and nurture that will support personal and communal thriving?

For more information and to register to attend, please visit https://embodiedblackgirl.com/ghf-2023/.

Contact Information:
EBG Press
hello@embodiedblackgirl.com


Original Source: The 2023 Global Healing Festival by Embodied Black Girl Returns, Disrupting Grind Culture and Centering Rest

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