Mottek On Money

Mixed finish to a choppy but record shattering week for blue chip stocks. After closing at a record high above 33K for the first time on Wednesday, the Dow pulled back heading into the weekend as benchmark government bond yields hit 14 month highs sending mortgage rates higher. Fed Chair Jerome Powell reiterates the Fed's commitment "to provide the economy with the support that it needs for as long as it takes." Travel activity picks up with some cruise lines announcing plans to resume cruises in the Caribbean soon. The latest on the financial markets and the economy with Dr. Mohamed El-Erian, President, Queens' College, Cambridge, Chief Economic Advisor, Allianz, former PIMCO CEO in Newport Beach, "Cruiseguy" Stewart Chiron, cruise industry expert, President, CruiseGuy.com, Jeff Lazerson, President, Mortgagegrader.com and O.C. Register columnist, Gregg Wind, CPA, Partner, Kallman & Logan, West L.A., Kevin O'Leary, a.k.a. Mr. Wonerful on TV's Shark Tank, Chairman of O'Shares ETFs, Beanstox and Kevin O'Leary Fine Wines.

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Blue chip stocks slip slightly from record highs as the Fed begins a two day policy setting meeting that's set to wrap up on Wednesday with a statement on the economy, a decision on interest rates and a news conference by Fed Chairman Jerome Powell. The Dow slipped 128 points from its record high to settle at 32,826. Bitcoin pulled back a bit more from its record high and is now hovering near $56,500 after getting close to $61K over the weekend. The latest on the markets, economy and outlook from Art Hogan, Chief Market Strategist, National Securities. New readings on L.A. area home sales, home prices and single family rents. The latest discussed with Dr. Frank Nothaft, Chief Economist, Corelogic and Jordan Levine, Chief Economist, California Association of Realtors.

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Blue chip stocks end the week at record highs following the signing into law of the $1.9T pandemic relief package one year after the devastating Covid pandemic was declared. Direct payments of up to $1,400 to individuals are expected to start flowing to bank accounts and mail boxes starting this weekend. Tech stocks pulled back as long term government bond yields ticked higher in a volatile week. Bitcoin got close to its record high above $58K before pulling back. The record breaking $69.3 million sale at auction of a purely digital work of art has grabbed the attention of the worlds of art and cryptocurrency and shined the spotlight on something called "non-fungible tokens." Southern California counties are set to move out of the most restrictive covid prevention rules allowing businesses including restaurants and theaters to reopen some indoor operations. The latest on the markets and the economy discussed with Dr. Mohamed El-Erian, President, Queens' College, Cambridge, Chief Economic Advisor at Allianz, former PIMCO CEO in Newport Beach, Celebrity Chef Wolfgang Puck, global restauranteur including Spago, Cut, Chinois, and Wolfgang Puck Catering, Economist Kevin Klowden, executive director of the Milken Institute's Center for Regional Economics and California Center and Kevin O'Leary, a.k.a. Mr. Wonderful Mega Investor on TV's Shark Tank, Chairman, O'Shares ETFs and Beanstox with a comprehensive conversation including Bitcoin, the record sale of the digital artwork, the latest Gamestop mania and the next season of Shark Tank returning to production in Los Angeles.

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Mottek On Money Special Edition focused on Southern California residential and commercial real estate as the economy continues to recover from the pandemic recession. Guests: Dr. Frank Nothaft, Chief Economist, Corelogic, with the latest report on delinquencies and foreclosures, Jordan Levine, Chief Economist, California Association of Realtors with an update on home prices and sales as well as the association's push for a fair housing and equity legislative package in Sacramento. On commercial real estate, Spencer Levy, Chairman of Americas Research and Senior Economic Advisor, CBRE and David Damus, President/CEO, System Property Development and System Parking which recently celebrated its 100th anniversary in Los Angeles.

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Stocks wrap up a volatile week with a rally after yet another roller coaster ride as long term government bond yields make unusually wide moves before pulling back. The Dow ended the week with a closing gain of nearly 600 points. The bond market has reportedly just had its third worst week since the year 1830. Oil prices spike to the highest in nearly 2 years, moving above $66 a barrel. Gas prices in L.A. have hit the highest in more than a year. Better than expected news on the job front as the economy adds 379K jobs last month and the nation's unemployment rate slips to 6.2. Meanwhile work continues in Washington on a $1.9T Covid relief package and vaccine rollouts continue. Analysis on the markets and the economy from Dr. Mohamed El-Erian, President, Queens' College, Cambridge, Chief Economic Advisor, Allianz, former PIMCO CEO in Newport Beach, Kevin O'Leary, a.k.a. Mr. Wonderful on TV's Shark Tank, Chairman, O'Shares ETFs and Beanstox, John Kilduff, oil analyst, Founding Partner of Again Capital, CNBC contributor and Economist Kevin Klowden, executive director of the Milken Institute's Center for Regional Economics and California Center.

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Mottek On Money Special Edition focused on Southern California real estate including the latest report on home price growth from Corelogic Chief Economist Dr. Frank Nothaft, the latest on home sales and prices from Jordan Levine, Chief Economist at the California Association of Realtors and the latest on mortgage rates from Jeff Lazerson, President, MortgageGrader.com and O.C. Register columnist. Stocks pull back after what was the biggest one day rally of 2021.  A mortgage company stock among the big winners. The latest on the markets and the economy from Art Hogan, Chief Market Strategist at National Securities. 

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Stocks take a bumpy ride and end the week lower as the yield on the benchmark 10 year note moves sharply higher sending mortgage rates up. The Dow posted 2 days of triple digit losses in a row. All of the major averages ended the month of February with gains. Bitcoin hit a record high above $57,000 and ended the week about $10K below that. The latest on the markets, the economy and Bitcoin discussed with Dr. Mohamed El-Erian, President, Queens' College Cambridge, Chief Economic Advisor, Allianz, former PIMCO CEO in Newport Beach https://www.mohamedel-erian.com/  and Kevin O'Leary, a.k.a. Mr. Wonderful on TV's Shark Tank, Chairman, O'Shares ETFs and www.Beanstox.com  The latest on mortgage rates discussed with Jeff Lazerson, President, www.mortgagegrader.com  and O.C. Register columnist. The new Johnson and Johnson Covid vaccine will be available next week in California if all goes as planned. The latest on the vaccine rollout and outlook on the economic recovery discussed with Kevin Klowden, executive director of the Milken Institute's Center for Regional Economics and California Center. https://milkeninstitute.org/centers/fastercures

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Mottek On Money Special Edition focused on Southern California real estate and an impressive turnaround for the stock market with the Dow erasing about a 360 point intraday loss. The latest S&P Corelogic Case-Shiller Home Price index shows continuing price gains for Los Angeles and San Diego. The latest real estate trends discussed with Dr. Frank Nothaft, Chief Economist, Corelogic and Jordan Levine, Chief Economist, California Association of Realtors. On commercial real estate, Spencer Levy, Chairman of Americas Research and Senior Economic Advisor, CBRE. Stocks stage a late rally following the latest comments from Fed Chairman Jerome Powell on Capitol Hill. Bitcoin slides from its recent high. Analysis of the markets from Art Hogan, Chief Market Strategist, National Securities. 

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Another record shattering week for stocks and cryptocurrency Bitcoin which soared above $56,000. Mixed readings out on the pandemic ravaged economy including jobless claims up 13K to 861K. Retail sales jumped a better than expected 5.3% in January. L.A. area gas prices edge higher as a severe winter snow storm paralyzes the fuel industry in Texas sending oil above $60/barrel. Analysis of the markets, the economy and Bitcoin from Dr. Mohamed El-Erian, President, Queens' College, Cambridge, 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 of O'Shares ETFs and Beanstox. Bill Allen, President/CEO, Los Angeles County Economic Development Corporation discusses the recent 2021 LAEDC Economic Forecast and discusses an upcoming event to guide people to community colleges in order to train for jobs that are in demand right now. www.laedc.org www.competitiveworkforce.la 

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Stocks end the week at record highs ahead of the three day Valentine’s Day / President's Day holiday weekend. Bitcoin grabs the spotlight after hitting a record high above $48,000 over the past week. Elon Musk's Tesla announced a $1.5B purchase of Bitcoin and plans to accept Bitcoin for vehicle purchases. Other companies including banking giant BNY Mellon announced plans to offer Bitcoin services. Analysis of the markets, the economy and cryptocurrencies from Dr. Mohamed El-Erian, President, Queen's College, Cambridge, Chief Economic Advisor, Allianz, former PIMCO CEO in Newport Beach, Kevin O'Leary, a.k.a. Mr. Wonderful on TV's Shark Tank, Chairman of O'Shares ETFs and Beanstox and Economist Kevin Klowden, executive director of the Milken Institute's Center for Regional Economics and California Center. The premier economic forecast event for the Los Angeles area businesses is set for Wednesday, February 17th. The LAEDC Economic Forecast event will be virtual this year. www.laedc.org One of the keynote speakers, Bruce Katz, Founding Director of the Nowak Metro Finance Lab at Drexel University, previews his presentation on work to achieve a more equitable post pandemic economic recovery for Los Angeles.

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