Market Coverage – Thursday June 2 Yahoo Finance

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U.S. stocks fell early Thursday, extending a downbeat start to June trading amid renewed concerns over the economy and a weak outlook from market bellwether Microsoft (MSFT) that weighed on tech peers.

The S&P 500 fell 0.3% after a choppy previous trading day, while the Dow Jones Industrial Average ticked down 30 points. The tech-heavy Nasdaq composite slumped 0.6%, dragged down by lowered guidance from Microsoft that sent shares down 3% at open. So far this holiday-shortened week, all three major indexes have logged two straight days of losses after last week’s bounce.

Investors also weighed a bevy of employment data. The Labor Department’s latest weekly jobless claims report showed applications for unemployment insurance unexpectedly fell to 200,000 in a sign labor market conditions remain a bright spot in the economy amid mounting worries of a slowdown. On the other hand, job creation in the U.S. private sector dropped off sharply last month to the slowest pace of growth in the COVID-era recovery, according to ADP’s private payrolls report.

Oil prices retreated from a rally earlier this week following reports Saudi Arabia and other OPEC members may boost crude production to offset a sharp drop in Russia’s output under new sanctions by the European Union. West Texas Intermediate (WTI) and Brent crude oil futures each fell more than 3% Thursday morning.

Wall Street weighed several quarterly reports in the early trade. Pet retailer Chewy (CHWY) saw shares pop more than 12% at open after the company reported a surprise profit following Wednesday’s closing bell. Hewlett-Packard Enterprise (HPE) added to a growing list of corporate names slashing forecasts over macroeconomic headwinds from supply chain disruptions, unfavorable currency movements and its exit from Russia. Shares fell roughly 8% at the start of trading.

More earnings are in store for traders through Friday from companies including Lululemon (LULU), RH (RH) and Okta (OKTA). With earnings season tailing off, investors will take their cue from economic data, with the labor market in focus.

On Wednesday, the April job openings report, also known as JOLTS, reflected a decline in the number of vacancies, a data point the Federal Reserve is likely to view positively as it works to cool the labor market. Manufacturing data from the Institute for Supply Management out Wednesday also pointed to resilience in the economy and suggested fears of downturn may be exaggerated.

The data coincided with market-moving comments from JPMorgan (JPM) CEO Jamie Dimon that signaled a grimmer outlook for the U.S. economic picture. At a conference Wednesday, the leader of the largest bank in the U.S. said the economy is facing a “hurricane” as the Federal Reserve moves forward with its monetary tightening plans.

“Are we going to slow down from a growth perspective? Yes, absolutely,” Cornerstone Wealth Group Chief Investment Officer Cliff Hodge told Yahoo Finance Live on Wednesday, commenting on Dimon’s remarks. “Are we going to fall into a recession? Eventually, but I think it is going to take longer to play out.”

In the last session, the Federal Reserve indicated in its periodic “Beige Book” that U.S. economic activity may have cooled in some parts of the country, weighed down by inflation, supply chain snafus and labor shortages.

“Worker shortages are still keeping labor markets tight and businesses understaffed,” LPL Financial Chief Economist Jeffrey Roach said in commentary. “In some districts, firms are freezing hirings, which is consistent with the decline in April job openings reported by the Bureau of Labor Statistics.”

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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

Contact Information:
EBG Press

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

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