Good Afternoon,

I hope everyone had a nice long weekend. I certainly did, as I attended the Indianapolis 500 for the first time. This week, the Queen celebrates her Platinum Jubilee, Captain Jack Sparrow (Johnny Depp) found his treasure with a win in his defamation lawsuit against his ex-wife Amber Heard, in what felt like a 500-day trial and the markets continued to keep us on our toes. It felt like summer had already begun in Indianapolis with warmer than usual weather. Although summer doesn’t officially start until June 21st it already feels like we are going to have 500 days of summer.

I spent my long weekend with my husband, Jim, attending the 106th Indianapolis 500 race at the iconic Indianapolis Motor Speedway on Sunday. The Indy 500 race was so much fun. It all came down to the final two laps of the 200-lap race for Marcus Ericsson to be the first to cross the finish line winning the largest purse in race history, $3.1 million. Scott Dixon was leading the race until lap 95 where he failed to slow down enough by the pit-road speed limiter and was penalized causing him to finish 21st. Jimmie Johnson, the seven-time Cup champion, crashed with six laps to go finishing in 28th place. It was quite an experience to be there amongst the crowd of more than 325,000 fans and was a definite bucket list item for us to attend.

I can’t believe it is already June. Being from Southern California, it feels like summer is already here. Although, summer does not really start until June 21st, when the Summer Solstice takes place, causing the days to be longer.

This year on February 6th, Her Majesty the Queen became the first British Monarch to celebrate a historic Platinum Jubilee. The 96-year-old queen is celebrating 70 years of service on the throne to the people of the United Kingdom. Queen Elizabeth II has served longer than any British royal in history. She was just 25 years-old when she ascended to the throne in 1952. Today kicked off the start of a four-day celebration filled with events to commemorate this milestone.

It was a rocky start on the first trading day of the month with bond markets selling off alongside equity markets. But today’s stock market performance made up for yesterday’s losses. This month marks the start of the Federal Reserve’s plan to shrink its balance sheet, so-called balance sheet “runoff”. This week, Fed governors also reaffirmed their intent to raise interest rates by 0.50% over the next two Fed meetings in June and July. Despite the news of tighter monetary policy, markets have behaved quite well. This week, one noticeable mover was Facebook (FB), which announced that its Chief Operating Officer, Sheryl Sandberg, will be leaving the company after 14 years. Facebook’s current Vice President of Growth and Analytics, Javier Olivan, is slated to step in as the new COO in late Fall of 2022 when Sandberg formally steps down. Facebook’s investors will see one other change from the company as it takes steps to rebrand itself. On June 9th, Facebook will change its Nasdaq ticker to META. For the week, the S&P 500, Dow Jones Industrial Average, and Nasdaq are all up 2.99%, 1.97%, and 4.93%, respectively, as of today’s close.

We are looking forward to our next webinar on “The 7 Simple Truths Every Plan Sponsor Should Know” with guest speaker, Jon Clark, AIF®, who is the Senior Vice President from PCS Retirement (PCS) on Wednesday, June 29th at 1pm. Click here to register and learn more. The playback video for our last webinar on “Getting Good Leverage: Credit, Loans, & Borrowing” is available to view here. Check out the recordings of our previous webinars to watch on our website here. Please share these links with your friends and family if you think they are topics they will find interesting.

As we are midway through the year, please feel free to call our office if you would like to discuss any questions or concerns you may have regarding your portfolio or schedule a review. Please call our office at (888) 253-0288 or email Kellie Chou at Kellie@apriem.com to schedule a meeting with your Wealth Manager.

Best regards,

Rhonda Ducote, AIF®

President 

Disclosures:

Advisory services offered by Apriem Advisors (“Apriem”), a registered investment adviser with the United States Securities and Exchange Commission in accordance with the Investment Advisers Act of 1940. Any reference to or use of the terms “registered investment adviser” or “registered,” does not imply that Apriem Advisors or any person associated with Apriem Advisors has achieved a certain level of skill or training. Apriem Advisors may only transact business or render personalized investment advice in those states and international jurisdictions where we are registered, notice filed, or where we qualify for an exemption or exclusion from registration requirements. For complete information about our firm, please refer to our Form ADV Part 2A, 2B and CRS at any time.

The information provided in this report should not be considered a recommendation to purchase or sell any particular security. There is no assurance that any securities discussed herein will remain in an account’s portfolio at the time you receive this report or that securities sold have not been repurchased. Past performance is no guarantee of future results. The reader should not assume that investments in the securities identified were or will be profitable.”

Copyright © 2022 Apriem Advisors, All rights reserved.
Apriem Weekly Newsletter