Mottek On Money

Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis. Precious metals prices take on a new shine with gold settling at $1843.90/oz, highest since 2011 and silver closed at $21.56/oz, the highest price since 2014. This after the European Union signed off on a nearly $1T coronavirus rescue package for the European economy while the U.S. congress discusses another rescue package which could total at least another $1T. Stocks ended the day mixed. Analysis of the markets and the economy from Axel Merk, currency expert, President, Chief Investment Officer of Merk Investments, manager of the Merk Funds including OUNZ Van Eck Merk Gold ETF www.merkfunds.com The latest on Los Angeles area real estate and rental activity discussed with Curt Northrup, Real Estate Agent, Douglas Elliman in Beverly Hills https://curtnorthrup.elliman.com/ and Dr. Frank Nothaft, Chief Economist, Corelogic www.corelogic.com/

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Coronavirus case numbers and deaths remain alarming in California and most other states as congress reconvenes to consider new help for consumers and businesses in the ongoing crisis. Some positive news on the work on a possible coronavirus vaccines. Meanwhile, it's a banner day on Wall Street with the tech heavy Nasdaq hitting a record high and the SP 500 going positive for 2020. The Dow posted a closing gain of 9 points. Silver closed above $20 an ounce for the first time in four years. Gold hovers above $1,800 and is within striking distance of its all time high. The latest market action discussed with Jim Hausberg, Managing Director, HighTower Advisors in Los Angeles. Jobless claims and unemployment remain alarmingly high in California and with the new business shutdowns over the past week, there are new concerns about the job picture. The latest discussed with Economist Dr. Robert Kleinhenz, Principal, Kleinhenz Economics. Jeff Lazerson, President, Mortgage Grader discusses the crisis impact on real estate and mortgage rates.

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An alarming spike in coronavirus cases in California and most other states adds to uncertainty about the economic outlook. Consumer confidence retreats this month to near the low since the coronavirus crisis started. Stocks end the week mixed with tech stocks pulling back after hitting record highs. California businesses reach a critical point in the crisis. More major retail chains announce consumers must wear masks in their businesses. An assessment of the main street economy from Los Angeles business and civic leader Rick Caruso, CEO, Caruso, developer of outdoor shopping destinations including The Grove, Americana at Brand, Commons at Calabasas and Palisades Village. Market analysis from Art Hogan, Chief Market Strategist, National Securities and Kevin O'Leary, a.k.a. Mr. Wonderful on TV's Shark Tank, Chairman, O'Shares ETF's. Dr. Abasia Mikhail, M.D., EXER Urgent Care Site Director in Pasadena and La Canada Flintridge discusses the front line coronavirus fight and coronavirus testing at the EXER Urgent Care clinics. 

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Stocks pull back on a mixed bag of earnings and economic reports. The latest weekly jobless claims number comes in 10K below last week but still an alarmingly high 1.3 million. Retail sales rebound in June ahead of the reclosing of many businesses in California and most other states in the face of rising coronavirus cases. The Dow came in for a closing loss of 135 points. The CDC extends the ban on U.S. based cruises. Stewart Chiron, cruise industry expert, President, www.Cruiseguy.com discusses the latest news and outlook for the cruise business. Small businesses continue to be under intense pressure as the crisis continues. The latest challenges discussed with a small business owner weathering the storm: Susan Janson Ping, owner of Kick It Up Dance and Fitness Studio  www.kickitup.com The latest news on the economy and markets discussed with economist Kevin Klowden, Executive Director of the Milken Institute's Center for Regional Economics and California Center www.milkeninstitute.org

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Mottek On Money Special Edition covering Wall Street and Main Street in the coronavirus crisis: More pain on main street, especially in California where business reopenings were rolled back this week, and more cheers on Wall Street on positive news on possible coronavirus vaccines. The Dow came in for a closing gain of 227 points. Lucy Dunn, President and CEO of the Orange County Business Council https://www.ocbc.org/ updates challenges businesses are now facing, new help for struggling restaurants and the outlook for recovery. Spencer Levy, Chairman of Americas Research and Senior Economic Advisor for CBRE discusses the outlook for commercial real estate and releases CBRE's new Tech Talent survey. Economist Dr. Frank Nothaft, Chief Economist at Corelogic discusses an alarming uptick in residential mortgage delinquencies in the pandemic recession.

Support the show: https://www.frankmottek.com