Mottek On Money

Mottek On Money Special Edition - Coronavirus Crisis Bear Market - Stocks rally on positive early results in human testing of an experimental coronavirus vaccine by drug company Moderna. Fed Chairman Jerome Powell told CBS News 60 Minutes he optimistic the economy can begin to recover in the second half of the year but a full recovery will likely not be possible before the arrival of a vaccine. The Dow closed up 912 points. The latest news on the coronavirus ravaged economy, jobs, pensions and more discussed with James P. Hoffa, General General President, International Brotherhood of Teamsters. On the market rally, analysis from Jim Hausberg, Managing Director, HighTower Advisors, Los Angeles. 

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A volatile and losing week for stocks as the coronavirus crisis continues to ravage the economy. Retail sales and industrial production post record drops, another major retailer files for bankruptcy, U.S. China tensions flare again. The Fed says the crisis has created uncertainty and financial sector fragility. Mortgage rates hover near record lows but banks tighten up lending again. About four million Americans are not making their mortgage payments under forbearance agreements. Analysis of the markets and the economy from Dr. Mohamed El-Erian, Chief Economic Advisor, Allianz, former PIMCO CEO in Newport Beach, Kevin O'Leary, Chairman O'Leary Financial Group. O'Shares ETF's, entrepreneur, author, also known as Mr. Wonderful on TV's Shark Tank and Mark Theis, President of HMS Capital. 

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Mottek On Money Special Edition - Coronavirus Crisis Bear Market: Stocks open lower on the latest jobless claims report showing nearly 3 million more people got into unemployment lines over the past week bringing the two month total to about 36.5 million. The Dow tanked about 450 points during the trading session but then turned around as oil and bank stocks rebounded. The markets also perked up as another economic rescue package comes together in Washington. The Dow posted a closing gain of 377 points. The latest news on the economy, jobs, outlook and latest work on coronavirus vaccines discussed with economist Kevin Klowden, executive director of the Milken Institute's Center for Regional Economics and California Center. ( https://milkeninstitute.org/ )  Long time Southern California labor leader and activist Patrick D. Kelly with the Teamsters Union discusses the crisis impact on local jobs and the economy. Tina Oswald, Executive Director of the Resident Relief Foundation ( https://residentrelieffoundation.org/  ) talks about how the crisis has made if difficult, if not impossible, for many people to pay their rent and how the foundation is helping people at all income levels.

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Mottek On Money Special Edition - Coronavirus Crisis Bear Market: Stocks slide for the second day in a row on a tough assessment of the economy from Fed Chairman Jerome Powell saying the outlook is "highly uncertain." He warned of the threat of a prolonged recession and Washington to take additional steps to shore up the economy. The Dow closed down 517 points. Market analysis from Art Hogan, Chief Market Strategist, National Securities. More heartbreaking news from California nursing homes as another cluster of deaths is reported at a facility in the bay area. Financial strains continue for families not aware of the benefits they may be entitled to for skilled nursing care. The latest discussed with Zoran Basich, elder law attorney, founder, Nursing Home Solutions,( www.nhscare.com ). Los Angeles business and civic leaders are mourning the loss of two giants on the L.A. business scene who have passed away this week. Real estate developer Jerry Snyder and energy guru S. David Freeman, the former head of the Los Angeles Department of Water and Power. The Honorable Tom LaBonge, former L.A. City Councilman and L.A. historian shares his thoughts on their legacy and discusses the current crisis.

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Mottek On Money Special Edition - Coronavirus Crisis Bear Market: Stocks take the biggest one day slide so far this month on health concerns related to the reopening of the economy as expressed by Dr. Anthony Fauci, Director of the National Institute of Allergy and Infectious Diseases, at a congressional hearing. The Dow closed down 457 points after meandering in a narrow range during most of the trading day. The reopening and recovery of the economy in California will be slower than first expected. The latest assessments of the economy and markets discussed with Dr. Robert Kleinhenz, Kleinhenz Economics and Ken Winans, President, CIO, Winans Investments. Dave Naidu, CEO, Socialincs in Newport Beach discusses www.restaurantsrising.com a new initiative to help restaurants struggling to survive in the coronavirus crisis.

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