Dear Valued Clients, Friends and Family,

I start this letter heavy hearted with the news of another mass shooting that took place in Uvalde, Texas. Our thoughts and prayers go out to the families of the victims and everyone who has been affected by this tragedy.

On Tuesday, a gunman opened fire in a Texas elementary school in Uvalde, Texas. At least 19 children and two teachers were killed, and at least 17 others injured according to the Texas Department of Public Safety. It is still unclear the motive of the attack and there is an ongoing investigation. So far this year there have been 213 mass shootings in 2022, I pray that this will be the last time I have to write about one of these tragedies.

This coming Monday we honor the men and women who died while serving in the United States Military. This holiday was formerly called Decoration Day, in the United States, and occurs every year on the last Monday of the month in May. It originated during the American Civil War when citizens placed flowers on the graves of those who had been killed in battle. Thank you to all who have sacrificed for our freedom.

After retailers announced earnings this week, the market rallied impressively. The results from names like Target (TGT), Walmart (WMT), Macy’s (M), and Dollar General (DG) were mixed. Some companies reporting substantial profits while others had issues with high inventories and supply chain issues. Despite this, retail sales continue to be strong. In addition, the Federal Reserve minutes were released on Wednesday. The Federal Reserve stated in the report that a 0.50% interest rate hike is anticipated next month, with additional 0.50% hikes possibly after that – markets rallied on the news. For the week, the S&P 500, Dow Jones Industrial Average, and Nasdaq are all up 4.05%, 4.45%, and 3.10%, respectively, with the 10-year Treasury yield marginally lower at 2.75% all as of today’s close.

Thank you to everyone who attended our webinar on “Getting Good Leverage: Credit, Loans, & Borrowing” yesterday. I hope you enjoyed it and found it informative. The playback video will be up on our website soon. Be on the lookout for the invitation for our next webinar. Recordings of our previous webinars are on our website for viewing. Click here to watch. Feel free to share these links with your friends and family if you think they are topics they will find interesting.

As always, with the market volatility please call our office if you would like to discuss any questions or concerns you may have regarding your portfolio or schedule a review. Our toll-free number is (888) 253-0288 or email to schedule a meeting with your Wealth Manager.

In observance of the market holiday schedule, Apriem Advisors will be closed on Monday, May 30, 2022, in observance of Memorial Day.

As we enter the weekend, and we reflect and honor our fallen soldiers, let us also take a moment to remember the children and teachers who lost their lives in Texas.

“Hope is being able to see that there is light despite all of the darkness.”
– Desmond Tutu

Rhonda Ducote, AIF®


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