Mottek On Money

An election week rally on Wall Street sends the major stock averages to near record highs with weekly gains of about seven to nine percent as the political dust continues to settle following Tuesday's election. The October jobs report came in better than expected with hiring coming in at 638K jobs and the nation's unemployment rate moved down to 6.9% from 7.9%. The Fed held the line on its benchmark short term interest rate and pledged more support for the economy. Analysis of the markets and the economy from Dr. Mohamed El-Erian, President, Queens College, Cambridge, Chief Economic Advisor, Allianz, former PIMCO CEO in Newport Beach, Kevin O'Leary, a.k.a. Mr. Wonderful on TV's Shark Tank, Chairman of O'Share's ETFs and Beanstox. J.R. Rahn, CEO, co-founder, MindMed discusses so called "Magic Mushrooms" getting new attention in medicine and the business world as Oregon becomes the first state to legalize psychedelic mushrooms for therapeutic use.   

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: The election week stock market rally continues sending all of the major averages near record highs as the presidential election vote count continued in battleground states. The Dow closed up another 543 points, Nasdaq gained 300 and the SP500 ended up 67. Analysis on the markets and the economy from money manager Ken Winans, President, Winans Investments and Economist Kevin Klowden, executive director of the Milken Institute's Center for Regional Economics and California Center. Theresa Miller, CIO, Lionsgate and 2020 Chair of  Innovate@UCLA discusses technology's impact during the pandemic and the 2020 Innovate@UCLA virtual leadership awards on November 12th at 530pm https://www.eventbrite.com/e/innovateucla-executive-leadership-awards-virtual-event-tickets-119294821021 for the first time the event is free and open to the business community https://innovateucla.org/  Dr. Anne Rimoin, Professor of Epidemiology at the UCLA Fielding School of Public Health and Infectious Disease Division of the Geffen School of Medicine updates the Los Angeles business community on the pandemic. 

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Stocks stage a big post election rally as the vote count continues in the undecided presidential race in the battleground states. The Dow jumped more than 700 points during the trading day and came in for a closing gain of 368. The Nasdaq popped 430 points higher. Analysis of the markets, the economy and election impact from Art Hogan, Chief Market Strategist, National Securities. Jamie Court, President, Consumer Watchdog www.consumerwatchdog.org discusses California voters approving Proposition 24, which extends consumer privacy protections. Home prices tick higher again in Southern California. The very latest discussed with Dr. Frank Nothaft, Chief Economist, Corelogic, in our Frank discussion on real estate, the mortgage business and the economy. 

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Stocks start the new week and new month of November with a rally following the worst week the market had seen in seven months on rising coronavirus cases. Better than expected readings on manufacturing and construction spending gave the market a boost on election eve. The Dow came in for a closing gain of 423 points to kick off a busy week including the Presidential election, a Fed policy setting meeting and the release of the October jobs report on Friday. Analysis of the markets and the economy from Art Hogan, Chief Market Strategist, National Securities. On the main street economy, California voters will decide a measure on the ballot that will impact the so called gig economy in the state, Proposition 22. Geoff Vetter, the spokesman for Yes on 22 and Patrick D. Kelly, long time union leader and activist, delivers the No on 22 message. 

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Stocks rack up the biggest weekly loss since the pandemic sell off in March. Money came off the table on rising coronavirus cases in the U.S. and Europe, uncertainty ahead of the November 3rd presidential election and no additional economic rescue money coming from Washington any time soon. The Dow ended the week with a closing loss of 157 points to 26,502, down 6.5% for the week and down 4.6% for October. Big tech stocks including Apple also got slammed with the Nasdaq falling 5.5% for the week and down 2.3% for the month. The economy posted an historic rebound of 33.1% in Q3, weekly jobless claims fell 40K to 751K, a pandemic low.  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, Kevin O'Leary a.k.a. Mr. Wonderful on TV's Shark Tank, Chairman, O'Shares ETF's and Beanstox. Culver City based mobile video game giant Jam City will serve the community as an early voting center on Monday, November 2nd. Jam City co founder, President and COO Josh Yguado discusses the company's election plans and video game success. (Voters in LA County can vote at any official polling location, and may vote at Jam City's Culver City headquarters, outdoors, on November 2, 2020, from 10am to 7pm at 3562 Eastham Dr, Culver City, CA 90232. Voters can also drop off Vote by Mail ballots at this location.)

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Stocks snap this week’s losing streak on the latest readings on the economy including a record 33.1% rebound in Q3 GDP, weekly jobless claims -40K to 751K. The Dow posts a closing gain of 139 points. Big tech names including Apple, Alphabet Google, Amazon and Facebook report earnings. Analysis from Economist Kevin Klowden, executive director of the Milken Institute's Center for Regional Economics and California Center and Matt Krantz, personal finance and management editor for Investors Business Daily (IBD). 

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Josh Yguado, co founder, President and COO of Culver City based mobile video game giant Jam City discusses the company's popularity with gamers in the ongoing pandemic with titles including Harry Potter: Hogwarts Mystery, Cookie Jam and Panda Pop. He also announces Jam City's Culver City headquarters will serve as an official LA County early polling center on Monday, Tuesday, November 2nd, a day before the November 3rd election. The location ideal for the local business community for in person voting or drop off ballots, in an outdoor set up, from 10am to 7pm at 3562 Eastham Drive, Culver City, CA 90232. 

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Stocks extend this week's slide with the Dow posting a closing loss of 943 points on an alarming spike in covid cases in the U.S. and Europe. France and Germany announce new business shutdowns in response to a second wave of coronavirus. Travel related stocks take another hit. Big tech names move lower as 3 tech company CEO's are grilled before the Senate Commerce Committee. The price of oil pulls back 5.5% even though Hurricane Zeta roared through the Gulf of Mexico and hit the Louisiana coast as a category 2 hurricane. Analysis of the latest market moves and the economy from Art Hogan, Chief Market Strategist, National Securities and John Kilduff, oil analyst, Founding Partner, Again Capital and CNBC contributor. 

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Stocks move mostly lower on concerns about the rising number of covid cases on the global economy and no additional rescue money coming from Washington anytime soon. The Dow closes down 222 a day after a 650 point closing drop.  The view on the markets and the economy from Maria Bartiromo, veteran Wall Street business news anchor, host of "Mornings with Maria" and "Maria Bartiromo's Wall Street" on the Fox Business network, as well as "Sunday Morning Futures" on Fox News, author of "The Cost: Trump, China and American Revival." Paris among European cities enduring new curfews in the ongoing coronavirus crisis with restaurants and other businesses being impacted. In Paris, Sophie Gayot with global restaurant and entertainment review site www.gayot.com discusses the situation there and the latest innovation seen in the restaurant business fighting to survive the pandemic. Economist Dr. Frank Nothaft Chief Economist, Corelogic, for our Frank discussion on real estate, the mortgage business and the economy has the latest on L.A. home prices in the S&P Corelogic Case Shiller Home Price Index. 

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Stocks take the worst tumble in more than a month as coronavirus cases surge in the U.S. and Europe. Hopes fade for a new economic stimulus package getting approved by lawmakers in Washington before the November 3rd presidential election. The Dow came in for a closing loss of 650 points after seeing a drop of more than 900 during the trading day. Airlines, cruiselines and casino companies were among the hardest hit. Analysis on the markets and the economy from Art Hogan, Chief Market Strategist, National Securities. Vivian Tsai, Chair, College Savings Foundation www.collegesavingsfoundation.org discusses the foundation's annual survey, 529 college savings plans and challenges families are facing in the ongoing pandemic. 

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