Mixed finish to a volatile Labor Day holiday shortened week on Wall Street with the Nasdaq racking up its biggest weekly loss since March. Big tech names led the market lower sending the Nasdaq down 4.1%, S&P500 down 2.5% and the Dow down 1.7% for the week. The latest market action and the main street economy discussed with Kevin O'Leary, a.k.a. Mr. Wonderful on TV's Shark Tank, mega entrepreneur, investor, Chairman, O'Shares ETF's, Beanstox and Kevin O'Leary Fine Wines. The latest news on the economy and coronavirus vaccine work discussed with Economist Kevin Klowden, executive director of the Milken Institute's Center for Regional Economics and California Center. Thousands of CalFire firefighters are now fighting the worst fires in California history after taking a pay cut due to the state's coronavirus budget crisis. The latest discussed with Tim Edwards, President, CalFire Union Local 2881 www.calfirelocal2881.org

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Today's special focuses on National Addiction Recovery Month, held every September to focus nationwide attention on treatment and mental health services which are even more urgently needed during the current pandemic. Guests: World renowned attorney Robert Shapiro, Senior Partner, Glaser Weil Law Firm, Los Angeles, Chairman, Brent Shapiro Foundation for Alcohol and Drug Awareness www.BrentShapiro.org co-founder LegalZoom and https://bizcounsel.com/ discusses how the pandemic has impacted the foundation, the legal profession, small businesses and companies fighting insurance giants for relief under business interruption policies. Laurie Dhue, former network television news anchor, national recovery advocate and recovery coach discusses her journey, an increase in substance abuse in Los Angeles during the pandemic, economic impact and available resources.

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Just another manic Tuesday for the stock market coming off a three day holiday weekend. Tech stocks led the sell off with the Nasdaq now seeing its fastest ever correction, again, for the second time this year, pulling back 10%+ from its most recent all time high. The Dow dropped 632 points. The SP500 gave back 95 and the Nasdaq closed down 465, both pulling back for the third session in a row from record highs. Analysis from Art Hogan, Chief Market Strategist, National Securities. Serious mortgage delinquencies spike nationwide. The latest report directly from economist Dr. Frank Nothaft, Chief Economist, Corelogic for our Frank discussion on real estate and the mortgage business. Reaction and the latest on rates from Jeff Lazerson, President, MortgageGrader.com and OC Register columnist.

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Stocks wrap up a record shattering week with a turbulent couple of days ahead of the three day Labor Day holiday weekend. The week wrapped up with a better than expected August jobs report showing the economy regained 1.4 million jobs and the nation's unemployment rate dropped to 8.4% from 10.2% in July. Stocks initially reacted positively to the report and moved higher at the opening bell following the worst one day market plunge since June which sent both the Nasdaq and S&P500 off record highs. But the market saw another burst of volatility Friday with the Dow closing down 159 points, rebounding from a drop of more than 600. Analysis on the markets and the economy from Dr. Mohamed El-Erian, Chief Economic Advisor, Allianz, former PIMCO CEO, Newport Beach, President-Elect, Queens College Cambridge, Joseph Lavorgna, Chief Economist, National Economic Council, Special Assistant to the President, Kevin O'Leary, a.k.a. Mr. Wonderful on TV's Shark Tank, Chairman, O'Shares ETF's. Top labor union leaders share their thoughts on Labor Day 2020 in the current pandemic: James P. Hoffa, General President, International Brotherhood of Teamsters and Gabrielle Carteris, President, SAG-AFTRA.

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Stocks touch new highs then pull back in what turned out to be the steepest one day sell off in about 3 months. The Dow made a run for it's previous record high close and got just about 300 points away from it before plunging 1,025 and came in for a closing loss of 808. The Nasdaq and SP500 started the day at record highs, pushed higher after the opening then also pulled back during the trading day with Apple and other big tech names leading the way lower. The Nasdaq slid nearly 600 points and the SP500 closed down 126. The weekly jobless claims dropped nationwide by 130K to 881K but moved up in California by 40K. Analysis on the markets and the economy from Art Hogan, Chief Market Strategist, National Securities and Economist Kevin Klowden, Executive Director of the Milken Institute's Center for Regional Economics and California Center.

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Stocks kick off the new month of September with record highs for the Nasdaq and S&P 500. The Dow moved further into positive territory for 2020 and now stands about 900 points below its all time high. Zoom Video Communications stock soared 41% lifting other so-called work from home stocks higher. Walmart stock moved up after launching a new membership service called Walmart+ which the world's largest retailer hopes will compete with Amazon Prime. Analysis on the markets and the economy from Art Hogan, Chief Market Strategist, National Securities. Dan McAllister, Treasurer/Tax Collector, San Diego County discusses real estate, the economy and some relief for taxpayers having trouble paying property taxes due to the coronavirus crisis. https://www.sdttc.com Dr. Frank Nothaft, Chief Economist, Corelogic, shares the latest report on home price growth in our Frank discussion on real estate and the mortgage business.

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Another week for the record books on Wall Street with both the S&P500 and Nasdaq at all time highs. The Dow is having its best August since 1984 ending the week positive for 2020 and now just 3% below its all time high. Markets digest a change in Fed policy on inflation announced over the past week. On Main Street, job concerns mount as more companies announce layoff plans and the weekly jobless claims hold above 1 million. Analysis on the markets and the economy from Dr. Mohamed El-Erian, Chief Economic Advisor, Allianz, former PIMCO CEO in Newport Beach, President-Elect, Queens College, Cambridge, England and Kevin O'Leary, a.k.a. Mr. Wonderful on TV's Shark Tank, Chairman, O'Share's ETFs and Beanstox. California's governor unveils a new process for reopening businesses that is slower and more gradual than what the state tried earlier this summer. Some business owners find the new system frustrating and confusing. The situation discussed with celebrity hair stylist Giuseppe Franco owner of Giuseppe Franco Hair Salon in Beverly Hills.  

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis. The U.S. oil and gas industry takes a near direct hit from Hurricane Laura slamming in to the U.S. gulf coast packing 150 mph winds. Damage assessment at refineries, oil platforms and other installations continues. The price of oil hovers near a six month high above $43/barrel. The latest from oil industry analyst John Kilduff, Founding Partner, Again Capital and CNBC contributor. Stocks post a mixed finish with the Dow going positive for the year and the SP500 closing at a record high. Unemployment lines got shorter by 98K over the past week but remained just above 1 million. The Federal Reserve announces a major change in policy allowing the fed to keep its benchmark interest rates low even if inflation exceeds the fed's 2% target. New developments on coronavirus vaccine, treatment and testing. Analysis from Economist Kevin Klowden, Executive Director of the Milken Institute's Center for Regional Economics and California Center.

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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Stocks finish mostly higher with both the Nasdaq and S&P500 closing at record highs. The Dow slipped from a six month high. The market took a roller coaster ride on a mixed bag of news on the economy including the latest consumer confidence reading from the Conference Board showing sentiment down for the second month in a row sending it to a new pandemic low. New home sales posted the best gain since 2006 last month. The U.S. and China affirmed the phase one trade deal. The price of oil closed above $43/barrel, the highest price in nearly six months as Hurricane Laura threatens oil installations in the Gulf of Mexico. L.A. home prices have ticked higher while Bay Area prices have softened. Analysis from Art Hogan, Chief Market Strategist, National Securities, John Kilduff, Oil Analyst, Again Capital, CNBC Contributor, Dr. Frank Nothaft, Chief Economist, Corelogic, Sean Fulp, Executive Managing Director, Los Angeles, Newmark Knight Frank, commercial real estate advisory firm.

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Banner week for the stock market. The shortest bear market in Wall Street history comes to an end with the SP 500 closing at a new high for the second time in a week, marking an impressive rebound from the vicious bear market low hit on March 23rd as the coronavirus ravaged the economy. Tech stocks including Apple hit new highs sending the Nasdaq to an all time high. Unemployment lines got longer over the past week with new claims topping 1 million again. Congress remains deadlocked on another coronavirus economic rescue package. Some university campuses reverse course and go from in person instruction to virtual classes after coronavirus cases flare up. Analysis on the markets and the economy from Dr. Mohamed El-Erian, Chief Economist, Allianz, former PIMCO CEO in Newport Beach and President-Elect, Queens College, Cambridge, England and Kevin O'Leary, a.k.a. Mr. Wonderful on TV's Shark Tank, mega entrepreneur, Chairman of O'Share's ETF's and Beanstox.  

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