Mottek On Money

Mottek On Money Special Edition covering Wall Street and Main Street during the Coronavirus Crisis: New concerns about the economic recovery as unemployment lines get longer again as congress is deadlocked on another round of coronavirus rescue funds. The weekly jobless claims moved above one million again to 1.1 million after dipping below a million last week. Stocks started the day lower, but finished higher with tech stocks leading the way. The Nasdaq closed at a record high. Tesla closed at a record high above $2000 for the first time. Analysis from economist Kevin Klowden, executive director of the Milken Institute's Center for Regional Economics and California Center. Some cruises have resumed in Europe. The very latest from cruise industry expert, Cruise Guy Stewart Chiron, President, www.Cruiseguy.com The Method Fest Film Festival has pivoted to a drive-in format this year.  Actor and film producer Dennis Ostermaier, who also stars in his film “The Jonestown Defense” talks about the innovative www.methodfest.com.

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: It's a day for the record books on Wall Street as the SP500 closes at a record high for the first time since the crisis and the bear market sell off earlier this year. The broadly based market index settled up 8 points to 3,390 surpassing the previous record high achieved in February. After the fastest bear market sell off in market history, we've now seen the fastest market rebound. The Nasdaq composite also settled a record high, closing up 81 points to 11,211. Market analysis from Art  Hogan, Chief Market Strategist, National Securities. Single family home rents are coming down in L.A. for the first time in years. Economist Dr. Frank Nothaft, Chief Economist, Corelogic, has the latest report in our weekly "Frank" discussion on real estate and the mortgage business. An L.A. firm has taken rent forgiveness to the next level, approving a 90 day rent forgiveness to its tenants, as we hear from Daniel Alexander, co founder and principal of Domos Rossmore co-living in Los Angeles.

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Stocks reach for new highs then retreat after lawmakers in Washington pack it in until after Labor Day without reaching a deal on another rescue package for the coronavirus ravaged economy. The SP500 moved in to new high territory before pulling back, closing down a fraction, putting it about 14 points below the record closing high achieved in February as the covid crisis hit  Gold pulls back for the first time in nine weeks after a record run up above $2000/ounce. Retail sales tick up for the third month in a row. L.A. leads the nation in permanent business closings during the pandemic. The retail landscape continues to evolve. Analysis of the markets and the economy from Dr. Mohamed El-Erian, Chief Economic Advisor, Allianz, former PIMCO CEO, Newport Beach, and Los Angeles business and civic leader Rick Caruso, CEO, Caruso, developer of the most successful shopping destinations in Southern California including The Grove, Americana at Brand, Palisades Village and Commons at Calabasas.

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis. Unemployment lines got shorter over the past week with the latest weekly jobless claims report coming in below 1 million for the first time in nearly 5 months. Stocks ended mostly lower after the latest rally fizzled out on the continuing stalemate in Washington over the next crisis rescue package. The Dow slipped 80. The Nasdaq gained 30 points.  Government bond yields edged higher. Oil pulled back from the highest seen since March. Gold closed up $21.40 to $1970.40/oz. The U.S. coronavirus death toll exceeds 165,000. Analysis of the markets, the economy and work on coronavirus vaccines with Economist Kevin Klowden, Executive Director of the Milken Institute's Center for Regional Economics and California Center https://milkeninstitute.org/

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Breaking News: Pink's Hot Dogs, one of L.A.'s popular and successful businesses plans to reopen tomorrow (Wednesday, August 12th) after a nearly five month shutdown. Owner Richard Pink discusses the reopening of the iconic hot dog stand on LaBrea at Melrose, restaurant business challenges, real estate and philanthropy. Mortgage delinquencies jump as the coronavirus crisis continues to take an economic toll. The very latest report from Economist Dr. Frank Nothaft, Chief Economist at Corelogic. Stocks take a wild ride with the SP500 making a run for a record high before pulling back in the final hour of trading. The Dow erased a 350 point gain and closed down 105 points. Gold and silver plunged. Market analysis from Jim Hausberg, Managing Director, HighTower Advisors.

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Mixed finish to another record shattering week on Wall Street. Tech stocks slipped from record highs as U.S. China tensions flared. Gold saw a five session run up to record highs and ended the week just below its all time holding above $2000/ounce. The dollar firmed on a better than expected July jobs report showing employers added 1.76 million jobs and the nation's unemployment rate slipped to 10.2% from 11.1% in June. So far no deal in Washington on another coronavirus economic rescue package which could include an extension of supplemental unemployment benefits. Analysis of the markets and the economy with Dr. Mohamed El-Erian, Chief Economic Advisor, Allianz, former PIMCO CEO, Newport Beach, Kevin O'Leary, a.k.a. Mr. Wonderful on TV's Shark Tank, Chairman, O'Shares ETF's and Beanstox, Rick Caruso, Los Angeles business and civic leader, philanthropist, CEO, Caruso, developer of shopping destinations including The Grove, Americana at Brand, Palisades Village and his newest property The Rosewood Miramar Beach Resort in Montecito https://www.rosewoodhotels.com/en/miramar-beach-montecito

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Stocks end the day higher after bouncing around on the latest earnings news, weekly jobless claims hitting a pandemic low (but still above 1 million) and negotiations continuing in Washington on the next round of pandemic economic rescue efforts. The rally in big tech names including Apple continued sending the Nasdaq to a new high. The price of gold advanced to a record high for the fifth day in a row and moved closer to $2100 an ounce. Analysis on the markets and the economy from Michael Cuggino, President, Permanent Portfolio Family of Funds and Economist Kevin Klowden, executive director of the Milken Institute's Center for Regional Economics and California Center.

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Stock edge higher after a see-saw session with tech names including Apple hitting record highs. The Nasdaq continued its record winning streak finishing the day at an all time high. Negotiations continue in Washington on a new coronavirus rescue package for the economy. Corelogic forecasts lower real estate prices in the year ahead. The price of gold closes at a record high above $2000 an ounce, settling at $2021 an ounce. The dollar slipped overseas and government bond yields moved lower. The record shattering day for gold, the markets, the economy and real estate discussed with guests including Axel Merk, President and Chief Investment Officer of Merk Investments, manager of the Merk Funds including the VanEck Merk Gold Trust OUNZ  https://www.merkinvestments.com/ Ben Stein, Economist, Financial Commentator, Author. Dr. Frank Nothaft, Chief Economist, Corelogic and Jeff Lazerson, President, Mortgage Grader and OC Register real estate columnist.

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Tech stocks, including Apple and Microsoft rally to record highs sending the Nasdaq to a record high close. Stocks got a boost on the latest readings on the economy and signs of some progress in Washington on another pandemic rescue package for businesses and consumers. Gold closes at a record high. The latest on the markets and the economy discussed with Art Hogan, Chief Market Strategist, National Securities. A young entrepreneur's success story in downtown Los Angeles. Verlen Mitchell, CEO of www.ShipDistrict.com and Fast & Easy Shipping Services, shares his inspiring story about forming his company and thriving during the pandemic. Economist Dr. Robert Kleinhenz, Principal, Kleinhenz Economics, also affiliated with Cal State Long Beach and the Inland Empire Economic Partnership, takes a closer look at the latest readings on the economy, jobs and real estate.

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Cheers on Wall Street as tough times continue on Main Street in the ongoing coronavirus crisis. The major stock market averages post four winning months in a row now with July gains of 2.4% for the Dow, 5.5% for the SP500 and 6.8% for the Nasdaq. Apple jumps 10% on its latest earnings report and settles at a record high, up $40 to $425. Gold settles at a record high just below $2000/ounce. No deal yet in Washington on another coronavirus economic rescue package. New concerns about the pace of the economic recovery. The latest on the markets and the economy discussed with Dr. Mohamed El-Erian, Chief Economic Advisor, Allianz, former PIMCO CEO in Newport Beach, Economist Dr. Robert Kleinhenz, Principal, Kleinhenz Economics, also affiliated with Cal State Long Beach and the Inland Empire Economic Partnership. And, Kevin O'Leary, a.k.a. Mr. Wonderful on TV's Shark Tank, Chairman O'Share's ETF's and Beanstox.

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