Mottek On Money

Mottek On Money Special Edition - Coronavirus Crisis Bear Market - The price of OIL CRASHES TO BELOW ZERO. Oil plunged 306% under the weight of the enormous drop in demand due to the coronavirus shutdowns around the world and a flood of new supply with no place to put it. Oil took an historic drop of $55.90 a barrel settling to NEGATIVE $37.63 a barrel, the lowest price ever recorded. Oil stocks led the overall market lower. The Dow closed down 592 points. Analysis of the day's epic events and outlook with oil analyst John Kilduff, Again Capital, CNBC contributor and Jim Hausberg, Managing Director, Partner, HighTower Advisors in Los Angeles.

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Stocks rally for the second week in a row despite more ugly readings on the coronavirus ravaged economy including a jobless claims surge of more than 5 million. California's unemployment rate spikes to 5.3%. The Dow ended the week with a closing gain of 705 points on moves to reopen the economy. A report saying an experimental coronavirus treatment showed some positive results also lifted investor sentiment. China's economy contracts by a record 6.8% in the first three months of the year. The latest assessment of the markets and the economy from 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'Shares ETFs, serial entrepreneur, author, Dr. Robert Kleinhenz, Principal Economist, Kleinhenz Economics, also affiliated with Cal State Long Beach and the Inland Empire Economic Partnership.  

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Mottek On Money Special Edition - Coronavirus Crisis Bear Market: So called "stay at home" tech companies lead a rebound on Wall Street while the economic pain on Main Street continues. Another 5.2 million Americans got in to unemployment lines over the past week bringing the total number over the past month to about 22 million, erasing nearly all of the job gains over the past decade. Amazon and Netflix stock hit record highs as consumers order online and watch movies online during the coronavirus lockdowns. Analysis from market veteran Bryan Perry, Editor of BryanPerryInvesting.com and author of the 25% Cash Machine. The latest eye popping number of jobless claims just the latest in a series of tough readings on the economy. The latest reports and outlook discussed with economist Kevin Klowden,  Executive Director of the Milken Institute's Center for Regional Economics and California Center in Santa Monica. United Health Foundation pledges $1 million to support vulnerable LA County residents during the coronavirus crisis. Dr. Amar Desai, President/CEO of Optum California, part of United Health, updates the health aspect of the crisis, help for the homeless and the outlook for reopening the economy.

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Mottek On Money Special Edition - Coronavirus Crisis Bear Market: Stocks take the worst tumble in a couple of weeks on a blizzard of tough news on the coronavirus ravaged economy. Retail sales plunged a record 8.7% in March, manufacturing and overall industrial production record the biggest drops since 1946 when the U.S. demobilized after World War II and banks brace for big loan losses. Oil demand is expected to fall this year by the most ever due to the coronavirus shutdowns. Oil closed below $20 a barrel for the first time since 2002. Los Angeles gas prices move lower. The Dow came in for a closing loss of 445 points to settle at 23,504. A comprehensive mid week update on the economy and the markets with Art Hogan, Chief Market Strategist, National Securities and John Kilduff, Oil analyst, Again Capital and CNBC contributor.

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Mottek On Money Special Edition - Coronavirus Crisis Bear Market - Stocks rally on hopes business shutdowns imposed during the coronavirus pandemic might soon be eased. The rate of new coronavirus cases worldwide has slowed for the past three days. The Dow came in for a closing gain of nearly 560 points. Tech stocks led the way higher. The Nasdaq gained 323 points. Market analysis from Gabriel Wisdom, President, American Money Management. The IRS is giving taxpayers more time to file taxes this year because of the coronavirus crisis. Gregg Wind, CPA, Partner, Kallman, Logan & Co. in Brentwood discusses what you need to know as well as special provisions for 401K hardship withdrawls and loans this year. Julia Forth, Executive Director, Cancer Support Community Los Angeles, discusses free support programs available for some of the most vulnerable in the coronavirus crisis, cancer patients. 

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