Mottek On Money

Mottek On Money Special Edition - Coronavirus Crisis Bear Market: Economic storm clouds gather on Main Street as coronavirus shutdowns continue while it gets sunny on Wall Street with efforts to slowly begin reopening parts of the economy. The Dow closes up 358 points. Oil takes a 25% plunge to settle below $13/barrel. L.A. business leader, philanthropist Scott Minerd, Chairman of Investments and Global Chief Investment Officer, Guggenheim Investments discusses the current economic outlook, an unprecedented wave of joblessness and homelessness in Los Angeles. He explains how you can urgently help heroes on the front lines of the crisis at the Union Rescue Mission on L.A.'s skid row and pledges to match $1 Million in donations. (To donate: www.URM.org ) The founder of Consumer WatchDog, Harvey Rosenfield, asks the state insurance commissioner to suspend auto insurance rate hikes during the crisis and discusses other consumer issues. Oil analyst John Kilduff, Again Capital and CNBC contributor reacts to another big one day plunge in the price oil and what it means for consumers, businesses and investors.

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The coronavirus crisis continues to leave its impact on Wall Street and Main Street with the death toll hitting new highs, jobless claims topping 26 million over the past 5 weeks, the price of oil crashing to below zero then rebounding, congress passing another nearly $500B crisis rescue package, and stocks snapping a 2 week winning streak. The Dow wrapped up the week with a closing gain of 260 points to settle at 23,775. The week's big news and outlook discussed with Dr. Mohamed El-Erian, Chief Economic Advisor, Allianz, former PIMCO CEO in Newport Beach. Serious talks underway to reopen the economy, outlook for retailers and consumers discussed with Rick Caruso, Los Angeles business leader, philanthropist, developer of the most successful shopping destinations in Southern California including The Grove, Americana at Brand, Palisades Village and the Commons at Calabasas. Elder law attorney Zoran Basich, founder of Nursing Home Solutions https://www.nhscare.com   discusses critical information related to nursing homes in the coronavirus crisis and getting help paying for nursing home care.

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Mottek On Money Special Edition - Coronavirus Crisis Bear Market: More dismal readings on the economy including the latest weekly report on jobless claims showing another 4.4 million Americans got in to unemployment lines over the past week bringing the total to about 26 million. Congress is set to vote on a nearly $500B coronavirus rescue package for small businesses and workers. Oil jumps 20% after crashing to below zero this week. A report of a disappointing outcome on an experimental coronavirus treatment takes the steam out of the latest stock market rally. Analysis from economist Kevin Klowden, Executive Director of the Milken Institute's Center for Regional Economics and California Center, Oil Analyst John Kilduff, Again Capital and CNBC contributor. Entertainment industry job losses mount in the current crisis. The outlook from industry pioneer Larry Namer, President and CEO of Metan Global Entertainment Group and founder of E Entertainment Television.

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Mottek On Money Special Edition - Coronavirus Crisis Bear Market -Stocks rebound after a two day slide. The Dow posts a closing gain of 457 points. Oil posts a nearly 20% gain, closing up $2.21 to $13.78 a barrel, in what's been an historic week in the oil markets which saw the price of oil collapse to below ZERO. Markets cheered the latest coronavirus rescue package coming together in congress. Market analysis from Art Hogan, Chief Market Strategist, National Securities and John Kilduff, Oil Analyst, Again Capital and CNBC contributor. Blake Polisky, Executive Vice President of Nature's Produce, a Los Angeles area food distribution company, (naturesproduce.com) explains how they've pivoted the business to directly serve consumers with warehouse pickup and delivery due to the shutdown of restaurants, hotels and schools it had served before the crisis hit.

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Mottek On Money Special Edition - Coronavirus Crisis Bear Market: Stocks slip to the lowest levels in 2 weeks after the price of oil crashed to below zero on a plunge in demand and overflowing supply during the coronavirus shutdowns.  Oil did bounce back to finish around 10 dollars a barrel. The Dow came in for a closing loss of 631 points. A discussion on the latest epic news impacting Wall Street and Main Street with Maria Bartiromo, Global Markets Editor, Anchor, Mornings with Maria, Sunday Futures and Maria Bartiromo's Wall Street on the Fox Business Network. Susan Janson Ping, Owner, Kick It Up dance the fitness studio, Long Beach. John Kilduff, Oil Analyst, Again Capital and CNBC contributor. 

Support the show: https://www.frankmottek.com