Mottek On Money

Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis. Stocks start the holiday shortened week with a rally as coronavirus cases move up to the highest seen since the pandemic started. Many states, including California, are retreating or pausing business reopenings in the face of the rising case numbers. The market got a boost from an eye popping jump in pending home sales last month and a big rise in Boeing stock on news the 737 MAX jetliner started FAA certification flights with the goal of resuming service of the grounded jetliner by the end of the year. The Dow came in for a closing gain of 580 points. Analysis of the markets, the economy and real estate from guests: Jim Hausberg, Managing Director, HighTower Advisors, Los Angeles, Dr. Robert Kleinhenz, Prinicipal, Kleinhenz Economics, and Jeff Lazerson, President, Mortgage Grader and O.C. Register columnist.

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Stocks wrap up a volatile week sharply lower as coronavirus case numbers continue to rise to the highest seen since the pandemic started. Some states retreat on aggressive business re-openings as covid cases spike. California is also pausing additional re-openings. The latest coronavirus numbers raising questions about the shape of the economic recovery from the worst downturn since the Great Depression. The Dow ended the week with its worst one day loss in two weeks dropping 730 points. Analysis of the markets and the economy from Dr. Mohamed El-Erian, Chief Economic Advisor, Allianz, former PIMCO CEO and Kevin O'Leary, a.k.a. Mr. Wonderful on TV's Shark Tank, mega entrepreneur, Chairman, O'Shares ETF's and O'Leary Financial Group. The Beverly Hills Chamber of Commerce organizes Beverly Hills Back to Business, a virtual collaborative of other area chambers, business and civic leaders to discuss meeting the many challenges facing businesses after the coronavirus lockdowns. The event and the latest news discussed with Todd Johnson, President, CEO, Beverly Hills Chamber of Commerce www.beverlyhillschamber.com

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Mottek On Money Special Edition Covering Wall Street and Main Street: Stocks close higher in a volatile session with the focus of attention on the alarming spike in coronavirus cases in California and other states. The weekly jobless claims came in at nearly 1.5M but continued to decline for the 12th week in a row. The latest report on economic growth in the first quarter of 2020 came in at -5%, in line with the previous estimate. The Dow came in for a closing gain of 300 points after posting a loss of more than 200 earlier. Analysis from economist Kevin Klowden, Executive Director of the Milken Institute's Center for Regional Economics and California Center. Jamie Court, President, Consumer Watchdog discusses the latest consumer issues including nursing homes during the coronavirus crisis and the latest on consumers unable to get their bottle and can deposit refunds in California. Governor Newsom has given retailers another 60-day reprieve on refunding the 5 or 10 cent CRV deposits. Elder Law Attorney Zoran Basich, founder of Nursing Home Solutions, www.nhscare.com discusses reports of so-called "patient dumping" during the coronavirus and how financially struggling families can get nursing home care for loved ones without depleting their resources.

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Mottek On Money Special Edition Special Edition - Covering Wall Street and Main Street: Stocks take the biggest one day tumble in a couple of weeks on an alarming rise in coronavirus cases. New York, New Jersey and Connecticut announced visitors from states (not including California at this point) with high infection rates of coronavirus will be required to quarantine themselves for 14 days when they visit the tri-state region. Meanwhile, California reported more than 7,100 new cases, an all time high. The IMF slashed its global economic forecasts for 2020. The Dow came in for a closing loss of 710 points. The Nasdaq retreated 222 points from a record high. Gold touched an eight year high just shy of $1,800 an ounce. Market analysis from Art Hogan, Chief Market Strategist, National Securities and Axel Merk, President, Chief Investment Officer, Merk Investments, manager of the Merk Funds https://www.merkinvestments.com/about-us/team/axel-merk.php

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Mottek On Money Special Edition - Covering Wall Street and Main Street: Tech stocks lead the latest rally propelling the Nasdaq to a record high for the second day in a row. Apple and Amazon among the stocks closing at new highs. Shops and restaurants are reopening in Beverly Hills. The Beverly Hills Chamber of Commerce is set to host the first Back to Business Virtual Collaborative on June 30th including area business and civic leaders. Beverly Hills Mayor Lester Friedman updates the reopenings and previews the event www.beverlyhillschamber.com The Los Angeles Area Chamber of Commerce organizes it annual entrepreneurship and innovation conference BIZCON www.BIZCONSoCal.com for June 24th and 25th. The event and update on LA area business reopenings and issues facing small business owners discussed with Maria Salinas, President and CEO, LA Area Chamber of Commerce www.LAChamber.com On the financial markets, the latest analysis with Ken Winans, President and Founder, Winans Investments www.WinansInvestments.com

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