Mottek On Money

Stocks wrap up the week at record highs as economic stimulus talks resume in Washington following a weaker than expected reading on hiring for the month of November in the face of an alarming rise in coronavirus cases. The latest news on covid vaccines remains encouraging. Analysis on the markets, economy, vaccines and entrepreneurs with Kevin O'Leary, a.k.a. Mr. Wonderful on TV's Shark Tank, Chairman of O'Shares ETFs and Beanstox. Top L.A. entrepreneurs are honored at the EY Entrepreneur of the Year Awards for Greater Los Angeles. Among them Dr. Thomas Buttgenbach, co-founder, CEO and President of L.A. based 8minute Solar Energy and Gail Becker, Founder and CEO of L.A. based CAULIPOWER. Jeff Lazerson, President, Mortgage Grader and O.C. Register columnist discusses mortgage rates hitting new lows. 

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A record shattering Thanksgiving week for the stock market which saw the Dow soar above 30K for the first time in reaction to the latest coronavirus vaccine news, the start of the presidential transition in Washington and President Elect Biden's selection of former Fed Chair Janet Yellen for U.S. Treasury Secretary. New concerns for the main street economy in the face of rising covid case numbers. Unemployment claims rise for the second week in a row to 778K. Restaurant owners in Los Angeles are outraged over L.A. County's decision to shutdown outdoor dining at restaurants (as well as indoor dining) on the day before Thanksgiving. The holiday shopping season begins. Analysis on the markets and the economy from Dr. Mohamed El-Erian, President, Queens College, Cambridge, Chief Economic Advisor, Allianz, former PIMCO CEO, Newport Beach, Economist Kevin Klowden, executive director, Milken Institute’s Center for Regional Economics and California Center, Los Angeles business and civic leader Rick Caruso, CEO, Caruso, developer of shopping destinations including The Grove, Americana at Brand, Commons At Calabasas and Pacific Palisades, and Kevin O'Leary, a.k.a. Mr. Wonderful investor on Shark Tank, Chairman of O'Shares ETF's and Beanstox. 

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Stocks rally to record highs with the Dow blowing past 30,000 for the first time and closing at a record high above 30K. Investors continued to cheer the latest news on coronavirus vaccines in the face of rising covid cases along with the transition in Washington to President-Elect Joe Biden which is now officially underway. The latest news discussed with Art Hogan, Chief Economist, National Securities. Los Angeles home prices move up 7.7% over the past year, sales activity remains sizzling and mortgage rates hover at or near record lows. The latest on real estate discussed with Dr. Frank Nothaft, Chief Econoimst, Corelogic, Leslie Appleton Young, Chief Economist, California Association of Realtors, Jeff Lazerson, President, MortgageGrader.com and OC Register Columnist. KNX traffic anchor and Gi's of Comedy comedian Thom Tran tells us about The Laugh Factory in Hollywood continuing a Thanksgiving tradition this year providing meals and a laugh to those who want it thanks to Laugh Factory owner Jamie Masada.  

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Mottek on Money Special Edition covering Wall Street and Main Street in the coronavirus crisis: Tough times have hit the restaurant business in LA this holiday season. The state imposed a nearly statewide nighttime curfew from 10pm to 5am over the weekend. And now Los Angeles County has ordered all outdoor dining at restaurants across LA County shut down starting Wednesday, November 25th (the day before Thanksgiving) and no on-site dining (indoor or outdoor) will be permitted for at least three weeks due to an alarming spike in Covid cases. The business impact on the restaurant business discussed with celebrity chef and global restauranteur Wolfgang Puck whose restaurant empire includes Spago, Cut, Chinois and Wolfgang Puck Catering. Stocks start the week higher on the latest positive Covid vaccine candidate news, this time from drug company AstraZeneca. 

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Another week for the record books on Wall Street with the latest coronavirus vaccine news sending the Dow up to its first record high close since the vicious bear market sell off at the start of the pandemic. After closing just below 30K on Monday, stocks ended the volatile week mostly lower as alarming coronavirus case numbers prompted new business restrictions including a 10pm to 5am curfew in California at the start of Thanksgiving week. Many restaurant owners are outraged. The latest discussed with Chef Wolfgang Puck, creator of a global restaurant empire including Spago, Cut, Chinois and Wolfgang Puck Catering. The job picture improves dramatically in Los Angeles since the pandemic shutdowns early in the year. The latest on the L.A. economy discussed with Bill Allen, President/CEO, LAEDC. www.LAEDC.org  The latest on the markets and the economy with Art Hogan, Chief Market Strategist, National Securities and Kevin O'Leary, a.k.a. Mr. Wonderful on TV's Shark Tank, Chairman of O'Shares ETFs and Beanstox. 

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis. Stocks end higher on new stimulus hopes after coming under pressure early in the session on alarming coronavirus cases numbers, jobless claims rising for the first time in five weeks and dire warnings from hotels and other industries. Existing home sales surge on record low mortgage rates. The Dow came in for a closing gain of 45 points. California Governor Gavin Newsom announces California is imposing an overnight curfew starting Saturday through December 21st to head off the surge in coronavirus cases. Analysis on the markets and economy from Art Hogan, Chief Market Strategist, National Securities, Kevin Klowden, Executive Director of the Milken Institute’s Center for Regional Economics and California Center. Healthcare related information technology takes a prominent role in the coronavirus crisis. Despite increased demand, health IT faces pressure with jobs on the line and new calls for government help. The sector discussed with Ash Gupta, Managing Partner at Emerald Star Capital, a social impact fund based in Palo Alto. 

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: After a vaccine fueled rally this month, stocks take a breather pulling back from the record highs achieved in the previous session. The Dow ended with a closing loss of 167 to 29,783. Retail sales ticked up for the fifth month in a row but came in a bit weaker than expected in October. Fed Chairman Jerome Powell told a business conference the surge in covid cases could slow the economy in the months ahead by discouraging consumers from spending. Analysis of the record run up in the stock market and latest on the economy discussed with famed Wharton Business School Finance Professor Jeremy Siegel. California real estate prices hover at or near record highs as mortgage rates hover at or near record lows. The latest readings from Leslie Appleton-Young, Chief Economist and SVP, California Association of Realtors, Dr. Frank Nothaft, Chief Economist, Corelogic, and Jeff Lazerson, President, Mortgage Grader and Orange County Register Columnist. 

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Stocks rally on optimism that a coronavirus vaccine will soon be available in the U.S. Covid cases meanwhile rise in all 50 states as authorities warn against having large holiday gatherings in hopes of slowing the spread of the out of control virus.  The SP500 ended the week at a record high. All of the other major averages touched record intraday highs early in the week. Analysis of the markets and the Main Street economy from Kevin O'Leary, a.k.a. Mr. Wonderful on TV's Shark Tank, Chairman, O'Share's ETF's and Beanstox, Economist Robert Kleinhenz, Principal, Kleinhenz Economics, Associate Director of Research, Office of Economic Research, Cal State Long Beach https://cla.csulb.edu/departments/economics/office-of-economic-research/csulb-regional-economic-forum/ Jeff Lazerson, President of Mortgage Grader and OC Register columnist discusses the latest on mortgage rates and a spike in mortgage delinquencies. Armando Castro, Jr., Owner, El Floridita restaurant in Hollywood, discusses the challenges of staying in business during the pandemic as long time customers beg for the return of salsa music and dancing as soon as possible.  www.elfloridita.com 

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Stocks slide as covid cases rise. Fed Chairman Jerome Powell told a conference "the next few months could be challenging" as the virus spreads. Chicago issues a stay-at-home advisory as covid cases there reach a critical point. The Dow closes down 317 points. Weekly unemployment claims hit a new pandemic low of 709K. Analysis of the markets and the economy from Art Hogan, Chief Market Strategist, National Securities, Economist Kevin Klowden, executive director of the Milken Institute’s Center for Regional Economics and California Center. Cruiseline stock take a choppy ride this week on the latest vaccine and covid news. The latest on the outlook for U.S. cruises with industry expert Stewart Chiron, President, www.Cruiseguy.com 

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Stocks touch RECORD HIGHS at the opening bell on news a potential covid vaccine from drug giant Pfizer and German biotech firm BioNTech showed it might be 90% effective at preventing COVID19. Political dust continues to settle after former Vice President Joe Biden was projected the winner of the presidential election over the weekend. President Trump mounts a legal fight over the election results. U.S. coronavirus cases continue to rise at an alarming rate. The Dow closes up 835 points after jumping 1,600 at the opening bell. The Nasdaq ends the day lower by 181 points after hitting record intraday highs. The "economy reopening" stocks rallied while so called "stay at home" tech stocks pulled back. Analysis on the markets and the economy from Art Hogan, Chief Market Strategist, National Securities. Kevin Parikh CEO and Chairman of the Avasant Group of companies www.avasant.com and the Avasant Foundation discusses how technology has evolved for businesses during the pandemic, support for www.innovateucla.org and what's ahead. 

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