Mountain Views News, Sierra Madre Edition [Pasadena] Saturday, April 22, 2017

SATURDAY, APRIL 22, 2017

SECTION B

AROUND SAN GABRIEL VALLEY

LOS ANGELES COUNTY PROCLAIMS ARMENIAN 
GENOCIDE DAY OF REMEMBRANCE

ASSEMBLYMEMBER CHRIS HOLDEN’S BILL TO 
EMPOWER FAMILIES WITH DEVELOPMENTAL 
SERVICES NEEDS PASSES FIRST POLICY COMMITTEE


Sacramento, CA – Assemblymember Chris 
Holden’s legislation to empower families in need 
of developmental services from regional centers, 
Assembly Bill 959, passed the Assembly Committee 
on Human Services today with a 7-0 vote.

 “When families are provided clear information 
regarding the services provided by regional 
centers, they are able to make the best choices for 
their loved ones,” said Assemblymember Chris 
Holden. “The need for this bill was brought to my 
attention by constituents with personal stories of 
having difficulty finding the care they needed for 
their family members.”

 Assembly Bill 959 requires the Department 
of Developmental Services to expand the type 
of information offered by regional centers on 
their websites and describe the services offered 
in plain language for parents to understand. 
Regional centers will be required to include a 
link to the services and descriptions on their 
website.

 “I’m proud to author this transparency measure 
that will make a difference for children and adults 
with special needs,” said Holden.

MARKET UPDATE: WILL WASHINGTON 

DISRUPT MOMENTUM?

LOS ANGELES COUNTY – Supervisor Kathryn 
Barger and the Board of Supervisors marked the 
102nd anniversary of the Armenian Genocide by 
proclaiming a Day of Remembrance for one of the 
darkest chapters in human history.

 “The month of April and the celebration of 
the Armenian culture culminates in our Day of 
Remembrance, a day where we mourn, remember, 
and rejoice in the rebirth of a resilient people,” said 
Supervisor Barger.

 Earlier this month, Supervisors Barger and 
Hahn introduced a motion proclaiming April 
as “Armenian History Month” in Los Angeles 
County – the home to the largest population of 
Armenians in the United States. The Armenian 
community continues to enrich the region through 
their leadership in the fields of business, agriculture, 
academia, medicine, government, and the arts.


Carl Davis, CIMA®, 
CRPC®

Financial Advisor/Vice 
President

Ameriprise Financial 
Services, Inc

Caution sets in

Market momentum stalled 
in March after solid gains 
in January and February, 
based on the generally flat performance in the S&P 
500 Index since the beginning of March. Although 
the S&P 500 is up roughly 10.0% since the November 
election, investors appear increasingly concerned about 
significant obstacles President Trump faces as he tries to 
turn his pro-growth agenda into real world policy.

 House Republicans were unable to pass health 
care reform last month. The next priority, tax reform 
legislation, may be even more challenging. This only 
amplifies investor anxiety. During the first quarter, 
the U.S. dollar gave back roughly half of its peak gains 
since the election, with small-cap stocks (i.e. stocks of 
companies subject to the highest tax rates) substantially 
underperforming large-cap equities.

 Lower oil prices during the first quarter also 
crimped risk appetite in March. That proved 
contrary to the desired outcome sought by OPEC 
and non-OPEC members in cutting production 
levels. Though the economy continues to show 
improvement, a recent surge in consumer and 
investor confidence has been slow to translate into 
real world economic benefits.

 Combined with already elevated equity valuations 
and the apparent desire by the Federal Reserve to boost 
interest rates from historically low levels, investors grew 
more cautious as the quarter came to a close. 

 The bulls remain in charge 

 Bullish sentiment rebounded to 55.8%, according to 
a recent Investors Intelligence report with data through 
the week ending April 4th. This followed a decline to 
49.5% the previous week, a move that coincided with 
the S&P 500 snapping a 109-day streak on March 21st. 
The streak’s tally recorded the number of days without a 
1.0% or more negative move in a single day for the S&P 
500, and there have only been eleven prior streaks of 
100+ days going all the way back to 1928, according to 
Bespoke Investment Group.

 However, stocks have generally performed well in 
the weeks and months following the end of such long 
stretches of price stability. Additionally, while investor 
confidence retreated from peak levels achieved in 
early March (the highest readings since 1987), bullish 
sentiment remains well above those seen prior to the 
November election.

 The S&P 500 appeared to be overbought by late 
February, but this perspective has dissipated after 
the market’s pullback in March. In our view, that 
development synchronized well with investor 
confidence and allowed markets to catch their collective 
breath after an already outsized post-election stock run. 

Where we go from here

 A concern for investors may be the ongoing 
dysfunction in Washington, highlighted by the recent 
decision of Republican lawmakers to overhaul Senate 
rules in order to confirm Neil Gorsuch to the Supreme 
Court. However, reflationary themes such as lower 
taxes and increased infrastructure spending are two 
items that could help bridge the divide. Markets will 
be watching closely to see if both parties can agree on a 
common path forward.

 Importantly, earnings season starts this month, 
and investors will get another update on the health 
of corporate America. Don’t overlook the fact that 
stronger corporate fundamentals have also played a role 
in the recent equity market rally.

 We anticipate that markets could be more heavily 
influenced in the near term by corporate earnings 
reports that will be released over the coming weeks. 
S&P 500 earnings per share (EPS) are expected to grow 
by roughly 9.0% year-over-year in the first quarter and 
analysts also expect similar earnings growth over the 
next two quarters.

 If corporations can validate these expectations as 
they report earnings, it will likely be a factor in helping 
equities move higher in the months to come.

SB 328 CLEARS FIRST LEGISLATIVE HURDLE

LANDMARK SCHOOL START TIME BILL PASSES THE 
SENATE EDUCATION COMMITTEE

Sacramento, CA – Today, Senator Anthony J. Portantino 
(D – La Cañada Flintridge) presented SB 328 to the 
Senate Education Committee. The bill requires middle 
schools and high schools to start the school day no earlier 
than 8:30 a.m. SB 328 is based on recommendations of 
the American Academy of Pediatrics and the Centers 
for Disease Control for the optimal time to start school 
for improved public health of teenage students. SB 328 
passed the Senate Education Committee.

 “This makes a big statement to the education 
community that the State Senate Education Committee 
is using sound and definitive research to put the best 
interests of our students first. Every school district 
around the country from every demographic and 
socioeconomic level that has moved teenage school 
start time later has seen a measurable, positive result 
for student achievement and student public health. I 
am very grateful to the Senate Education Committee 
for making its decision on this data and not rhetoric,” 
expressed Portantino.

 SB 328 is supported by The American Academy of 
Pediatrics, American Academy of Sleep Medicine, 
California Federation of Teachers, California 
Sleep Society, Children’s Hospital Los Angeles, 
Congresswoman Zoe Lofgren, High School Parent 
Engagement Group, Lucile Packard Children’s Hospital 
Stanford, Manhattan Beach Unified School District, 
Stanford University School of Medicine, Seattle 
Children’s Hospital, University of Washington – 
Department of Biology, and numerous individuals.

 Sen. Portantino represents nearly 930,000 people 
in the 25th Senate District, which includes Altadena, 
Atwater Village, Bradbury, Burbank, Claremont, 
Duarte, Glendale, Glendora, La Cañada Flintridge, 
La Crescenta, La Verne, Los Feliz, Monrovia, 
Montrose, Pasadena, San Dimas, San Marino, 
Shadow Hills, Sierra Madre, South Pasadena, 
Sunland-Tujunga, and Upland

LA COUNTY FIRE HOSTS BRUSH FIRE DRILL ABOVE 
DUARTE, MAY 8, 9 & 10TH

DUARTE, CA, APRIL 12, 2017 – In preparation for fire 
season, LA County Fire Division II will host a Brush 
Drill in Spinks Canyon above the Cities of Bradbury and 
Duarte on May 8th, 9th and 10th, from 8:30-1:30 PM 
daily. Each session will begin with an overview of our 
current structural defense tactics and unified command 
communications. Immediately following, fire personnel 
will participate in a series of drills and exercises in the 
general area. 

 During the three-day exercise, Duarte and Bradbury 
residents and businesses will notice increased 
activity in hillside areas in addition to fire safety 
equipment moving through the streets in the adjoining 
neighborhoods. 

 For questions about the drill or wildfire preparedness 
in general, please call 626-974-8371 or visit www.fire.
lacounty.gov

 

About the City of Duarte 

The City of Duarte was incorporated on August 
22, 1957. With integrity and transparency, the City 
provides exemplary public services in a caring and 
fiscally responsible manner with a commitment to 
our community’s future. For more information visit 
www.accessduarte.com or call (626) 357-7931. Follow 
the City of Duarte on Facebook at facebook.com/
duartecommunity; Twitter @CityofDuarte; Instagram 
@city_of_duarte and LinkedIn. 


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