Mottek On Money

Mottek On Money Special Edition: Coronavirus Crisis Bear Market: Stocks extend last week's slide sending the Dow down 37% from its record high just a month ago as the coronavirus brings global economic activity to a virtual standstill. The Fed announces it will provide unlimited help to the financial markets. Congress continues to work on a coronavirus rescue package. The Dow kicks off the week with a closing loss of 582 points to 18,592 following the market's worst week since the 2008 financial crisis. Analysis from Art Hogan, Chief Market Strategist, National Securities. Coronavirus impacts the real estate business. The latest from Dr. Frank Nothaft, Chief Economist, Corelogic on the outlook for real estate sales, prices and trends including virtual open houses. 

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The coronavirus crisis hits consumers, businesses and the financial markets hard this week despite dramatic new efforts from the Fed, the White House and congress to control the economic damage. The Dow wraps up another extremely volatile week marked by thousand point swings with another closing loss of 913 points to 19,174 for a drop of 17.3% for the week and 35% from its all time high achieved last month. The Dow is now more than 10,000 points below its February 12th high in what has been the fastest turn from bull market to bear market in Wall Street history. This week's momentous events discussed with Dr. Mohamed El-Erian, Chief Economic Advisor, Allianz, former PIMCO CEO in Newport Beach and leading influencer in the financial world. And Jim Hausberg, Managing Director and Partner, HighTower Advisors in Los Angeles. Los Angeles philanthropist, business and civic leader Rick Caruso, CEO of Caruso, developer of shopping destinations including The Grove, Americana at Brand, Palisades Villages in Pacific Palisades and others, discusses the decision to keep his properties open to the public during this unprecedented time. He also shares his insights on what needs to happen now to bolster consumers, retail, business and the economy.

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Mottek On Money Special Edition: Coronavirus Crisis Bear Market. Stocks take another roller coaster ride and end with the Dow up 188 points to 20,087 putting it 31 percent below where it was a month ago when the market stood at record highs. The Dow is on track for its worst week since the financial crisis of 2008. Unemployment lines got longer over the past week with jobless claims spiking 70K to 281K, the highest since September 2017. Analysts at Bank of America declare the U.S. is in a recession. Nervous time for consumers in the face of an economy coming to a temporary standstill because of the coronavirus emergency, rising unemployment, and empty store shelves. More conventions are cancelled or postponed. Guests include Michael Farr, President, investment advisory firm, Farr, Miller and Washington, CNBC contributor, Consumer Advocate Ralph Nader, Dan McAllister, San Diego County Treasurer/Tax Collector and President of the State Association of County Retirement Systems. 

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Mottek On Money Special Edition: Coronavirus Crisis Bear Market. Stocks slide as global economic activity slows or shuts down in the face of the corona virus crisis. The Dow comes in for a closing loss of 1,338 points to 18,899 touching the lowest seen since December 2016. All this as the White House, Fed, Treasury Department and congress announce extraordinary plans to soothe markets and try to blunt the coronavirus' economic impact. Oil takes a one day plunge of 24%, closing down $6.58 to $20.37/barrel, the lowest seen since 2002. Guests include Art Hogan, Chief Market Strategist, National Securities and John Kilduff, oil analyst, Again Capital and CNBC contributor.

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The 11 year bull run for stocks comes to an end as markets are rocked by heightened concerns about the economic impact of the coronavirus pandemic. Stocks took a huge roller coaster ride during the week culminating with the Dow closing up 1,985 points, its biggest point gain ever and its best percentage gain since October 2008. The eye popping gain came after the Dow's biggest ever point drop and worst percentage loss since the Black Monday Crash of 1987. Extended market coverage with Dr. Mohamed El-Erian, Chief Economic Advisor, Allianz, former PIMCO CEO in Newport Beach and leading financial influencer, Gabriel Wisdom, Managing Director, American Money Management. The coronavirus emergency rocks the cruise line business. Cruiseguy.com President Stewart Chrion discusses the major cruise lines now suspending trips for 30 days. Many business conferences are being cancelled or postponed. Some are going virtual. Among them, the big Trans Pacific Maritime (TPM) conferecence in Long Beach. TPM Conference Chairman Peter Tirschwell with the Journal of Commerce (JOC.com) discusses the last minute cancellation of this year's conference and new plans to stage it online.   

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