Mottek On Money

Mottek On Money Special Edition covering Wall Street and Main Street: New coronavirus concerns send stocks sliding after a five session run up led by the big tech names. The Nasdaq touched another record high during the trading day on news a record 6.5M people either found jobs or were rehired in May following the coronavirus lockdowns. The rally fizzled on the latest assessments of the economy from Fed officials including San Francisco Fed President Mary Daly who said the unemployment rate underestimates the damage done by the coroanvirus crisis. Tesla stock moves above $1400 for the first time and closes at a new high. Gold hit a nine year high above $1800. The Dow slipped 396. The Nasdaq closed down 90 points from its all time high. Market analysis from Jim Hausberg, Managing Director, HighTower Advisors in Los Angeles. While the cruise industry remains on pause, Norwegian Cruise Line and Royal Caribbean have announced the formation of a panel of health safety experts to guide the resumption of cruises. The latest discussed with cruise industry expert The Cruise Guy Stewart Chiron, President, www.cruiseguy.com  

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Mottek On Money Special Edition covering Wall Street and Main Street: Pre 4th of July fireworks on Wall Street extend into the new week after the three day holiday weekend despite an alarming rise in coronavirus cases in California, Florida and Texas. The Nasdaq hit a record high with big names including Apple, Amazon and Tesla hitting all time highs. China stocks rallied overnight. Market analysis from Art Hogan, Chief Market Strategist, National Securities. Big news for small business owners struggling to survive in the ongoing crisis. The Paycheck Protection Program has been extended. Ben Raju, Deputy District Director of the Los Angeles office of the U.S. Small Business Administration discusses the PPP extension, what small business owners in L.A. need to know, what other programs are available to help, etc. www.SBA.gov  (For EIDL reconsideration requests the email address is: [email protected] Serial entrepreneur Euwyn Poon, co founder and President of Spin, a California-based shared scooter company, discusses how the coronavirus crisis has impacted micro mobility companies and VC funding.

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Early fireworks on Wall Street on the better than expected June jobs report showing the economy added 4.8M jobs last month and the nation's unemployment rate fell to 11.1%. The market rallied but came off the best levels of the day on new alarming numbers on coronavirus cases in California, Florida and other states prompting some business re-closings and new restrictions for this Fourth of July holiday weekend. Tech stocks drove the latest rally. The Nasdaq finished the holiday shortened week at a record high. Analysis of the markets and the economy with Dr. Mohamed El-Erian, Chief Economic Advisor, Allianz, former PIMCO CEO. Los Angeles business and civic leader Rick Caruso, CEO, Caruso, developer of shopping destinations including The Grove, provides an update on retail, restaurants and meeting the new challenges in the coronavirus crisis. Economist Kevin Klowden, Executive Director of the Milken Institute's Center for Regional Economics and California Center updates the urgent work underway to achieve a Covid-19 vaccine and treatments.

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Mottek On Money Special Edition covering Wall Street and Main Street: Mixed start to the kick off to the second half of 2020 for the stock market. Stocks got an early lift on some encouraging results on a possible coronavirus vaccine from drug giant Pfizer and German biotech partner BioNTech. The latest ADP payroll survey found private employers added nearly 2.4M jobs in June. Manufacturing rebounded in June. An alarming spike in coronavirus cases in California and other states prompts a roll back of some business re-openings. Apple announced the re-closing on many stores in Southern California. The Dow came in for a closing loss of 78 points. Tech stocks continued to rally sending the Nasdaq up 96 to 10,155. Gene Seroka, Executive Director of the Port of Los Angeles and Director of Logistics for the City of L.A. during the coronavirus crisis updates economic activity at the port, trade and the pause in the cruiseline industry. Bryan Perry, Editor, of www.BryanPerryInvesting.com and author of the 25% Cash Machine has a comprehensive analysis of the markets, his stock picks and the outlook for the second half of 2020. 

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Mottek On Money Special Edition covering Wall Street and Main Street : The 2nd quarter of 2020 goes into the Wall Street history books with the best quarterly market performance since 1998 while main street businesses deal with new challenges in the face of rising coronavirus cases. The Dow started the day 100+ points lower but came in for a closing gain of 217 points after testimony by Fed Chairman Jerome Powell and Treasury Secretary Steven Mnuchin before the House Financial Services Committee focused on the ongoing government response to the coronavirus crisis.The price of gold has closed at $1800 an ounce for the first time since 2011. Oil saw historic volatility over the past 3 months rebounding from a record low of negative $40 to closing just shy of +$40 today. Market analysis from Art Hogan, Chief Market Strategist, National Securities and John Kilduff, Oil Analyst, Again Capital, CNBC Contributor. Tracy Hernandez, founding CEO of the Los Angeles Business Federation (LA BizFed), www.BizFed.org discusses the challenges facing the main street economy and important resources available for L.A. area business owners.

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