Mottek On Money

Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Critical time for businesses in California after the governor announces the biggest business re-closings since the crisis started. The serious business challenges discussed with Mark Wilbur, President/CEO, Employers Group  https://www.employersgroup.com/ and founding member of the Los Angeles Business Federation, LABizFed http://bizfed.org/ and John Kabateck, California State Director, National Federation of Independent Business, https://www.nfib.com/california/

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Financial markets are rattled by California Governor Newsom's announcement calling for a rollback of business reopenings in the nation's biggest state because of an alarming rise in coronavirus cases. Stocks rallied early with the Nasdaq hitting record highs and the SP 500 briefly went positive for the year. Both ended the day lower but the Dow held on to a closing gain of 10 points. Among the businesses ordered re-closed, hair salons in Southern California. The business impact discussed with Giuseppe Franco, Owner, Giuseppe Franco Hair Salon in Beverly Hills. Economist Dr. Robert Kleinhenz, Principal, Kleinhenz Economics discusses the economic impact of the latest announcement. Art Hogan, Chief Market Strategist, National Securities, discusses the latest market moves and outlook. 

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Tech stocks wrap up the week with a record shattering rally with big names including Apple, Amazon, Alphabet, Netflix and Tesla all settling at record highs. The Dow closed up 369 points on reports of more positive early results of an experimental covid treatment as the number of covid cases continue an alarming rise in California and most other states. Gold hovers near a nine year high. Analysis of the markets and the economy from Dr. Mohamed El-Erian, Chief Economic Advisor, Allianz, former PIMCO CEO in Newport Beach and Kevin O'Leary, a.k.a. Mr Wonderful on TV's Shark Tank, Chairman, O'Leary Financial and O'Share's ETF's. Jeff Lazerson, President, Mortgage Grader discusses mortgage rates hitting new lows and Corelogic's prediction that home prices will be coming down by next year for the first time in nearly a decade. 

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Mottek On Money Special Edition covering Wall Street and Main Street: Stocks post a mixed finish on the latest report on jobless claims and rising coronavirus cases. Tech stocks rallied to new highs. The Nasdaq extended its record shattering winning streak closing up 55 to 10,548. The Dow finished lower by 361 points. Jobless claims over the past week hit a fourth month but still alarmingly high at 1.3M. New concerns about a wave of evictions and foreclosures as unemployment remains stubbornly high and the ongoing coronavirus crisis is raising questions about the pace of the economic recovery. Mortgage rates hit new lows. Home prices edge higher in the latest Corelogic report for Los Angeles.  Analysis from Dr. Frank Nothaft, Chief Economist, Corelogic and Economist Kevin Klowden, Executive Director of the Milken Institute's Center for Regional Economics and California Center discusses the latest readings on the economy and updates the urgent work on a coronavirus vaccine. https://milkeninstitute.org/

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: A new gold rush is on as gold hits the highest price in 9 years above $1,800 an ounce and it edges closer to its all time high hit in September 2011. Stocks stage a late rally after a choppy session with the Nasdaq ending at a record high, up 149 to 10,492. The Dow reversed early losses and closed with a gain of 177 points. More tough news on main street with coronavirus cases hitting new daily highs and the national death toll rising to nearly 132,000. 200 year old clothing store chain Brooks Brothers among the latest retailers filing for bankruptcy. Analysis on the economy and the outlook on gold discussed with Axel Merk, President, Chief Investment Officer of Merk Investments, manager of the Merk Funds https://www.merkinvestments.com/ and Peter Schiff, President, EuroPacific Capital https://europacificfunds.com/

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