Mottek On Money

Mottek On Money Special Edition -Wall Street and Main Street: Stocks start the week with a rally sending the Nasdaq to a record closing high on growing optimism that the worst of the coronavirus induced recession might have already passed. It was the Nasdaq's first record high close since February 19th and marks an impressive rebound since the fastest ever bear market sell off. The broader S&P 500 turns positive for 2020. The Dow posts at gain of 461 points putting it about 2000 points below its all time high.  All this on the same day the National Bureau of Economic Research officially declared a recession started in February. Travel related stocks including airlines, cruiselines, car rental companies shot higher. Auto stocks moved up including Tesla which hit a record high above $900. The markets and the economy discussed with Bryan Perry, Editor of www.BryanPerryInvesting.com and Economist Christopher Thornberg, Founder, Beacon Economics.

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Stocks rally on the unexpectedly positive surprises in the May jobs report showing unemployment ticking lower to 13.3% and 2.5 million jobs were added to the economy after the lifting of some coronavirus lockdowns. Most analysts were expecting another big jump in unemployment and another drop in hiring. The Dow closed up 829 points. The Nasdaq touched a new intraday high closing up 198 points, ending the week just three points below its record high. Many business leaders release statements in support of protestors calling for justice in the death of George Floyd and condemning racism.  The latest on Wall Street and Main Street discussed with Dr. Mohamed El-Erian, Chief Economic Advisor, Allianz, former PIMCO CEO in Newport Beach, Kevin O'Leary, Mr. Wonderful on TV's Shark Tank, Chairman, O'Leary Financial Group, O'Share's ETF's and Beanstox  www.beanstox.com , and John Kabateck, California Director, National Federation of Independent Business www.NFIB.com

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Mottek On Money Special Edition - Main Street and Wall Street: Stock post a mixed finish on the latest weekly jobless claims showing another eye popping jump of 1.88 million new people got in to unemployment lines over the past week. Jobless claims now total to nearly 43 million since mid-March during the coronavirus crisis. That report came out ahead of Friday's release of the May jobs report from the Labor Department which is expected to show the nation's unemployment rate close to 20%, highest seen since the Great Depression. Coronavirus cases continue to rise. New optimism on work to find a coronavirus vaccine. Mass protests continue.  Business leaders are speaking out on justice for George Floyd as well as releasing statements calling for systemic change to fight racism and to address issues including income inequality. The latest discussed with economist Kevin Klowden, executive director of the Milken Institute's Center for Regional Economics and California Center. Catalina Island is finally reopening to visitors after about a three month economic lockdown. The reopening discussed with Catalina business leader Steve Bray, owner of Steve's Steakhouse www.stevessteakhouse.com and Maggie's Blue Rose restaurants in Avalon.

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Mottek On Money Special Edition covering Wall Street and Main Street: Stocks rally on new signs the worst of the economic downturn is behind us. This after a calmer night of anti police brutality protests calling for justice for George Floyd. The latest ADP private employment survey showed businesses cut nearly 2.8 million jobs last month but that was much better than the 9 million job cuts analysts were expecting. The Dow came in for a closing gain of 527 points sending it above 26K. Oil moved above 37 dollars a barrel to the highest seen in 3 months, a dramatic bounce back from below zero where it stood in April when demand collapsed and supplies overflowed. Analysis on the markets and the economy from Art Hogan, Chief Market Strategist, National Securities and John Kilduff, Founding Partner, Again Capital and CNBC contributor. The coronavirus crisis and wave of unemployment has impacted real estate in Southern California. A ground level view of whats happening and outlook discussed with Sean Brunske, with home buyer HomeVestors in Los Angeles, Riverside and San Bernardino County www.webuyuglyhouses.com

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Mottek On Money Special Edition - Wall Street and Main Street: Stocks climb a proverbial wall of worry as businesses are impacted by civil rights protestors demanding justice for George Floyd, civil unrest, and curfews amid slow re-openings with the coroanvirus crisis continuing. The Dow closes up 268 points. A discussion of the markets and the economy with Mark Hulbert, Marketwatch columnist, Publisher of The Hulbert Digest which tracks market newsletters. Spencer Levy, Chairman of Americas Research and Senior Economic Advisor, CBRE, discusses commercial real estate (industrial, office, multifamily, retail, hotels) as businesses gradually reopen following the coronavirus lockdowns.

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