Mottek On Money: Recent Episodes
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Mixed finish for stocks in a blizzard of earnings ahead of the end of a two day Fed policy setting meeting. Market analysis from Art Hogan, Chief Market Strategist, National Securities. Housing affordability gets worse in Los Angeles as home prices tick up 11.9% over the past year according to the latest S&P CoreLogic Case-Shiller home price index. The latest discussed with Dr. Frank Nothaft, Chief Economist, Corelogic. In Orange County, Colette's Children's Home www.coletteschildrenshome.com is among the 20 OC non profit groups participating in the Help Them Home giving day event on Wednesday, April 28th to help the homeless. The homeless crisis and fundraiser discussed with Billy O'Connell, Executive Director, Colette's Children's Home.
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Stocks rally ahead of the weekend as a new reading on manufacturing hits a record high and new home sales hit the highest since 2006. Mortgage rates pull back for the fourth week in a row. Stocks erase most of the losses seen in the previous session on reports President Biden plans to propose a tax hike on wealthy investors when he addresses a joint session of congress on Wednesday, the same day the Fed will wrap up a policy setting meeting. Bitcoin dips below $50K. Analysis of the markets, the economy and outlook from Dr. Mohamed El-Erian, President, Queens' College, Cambridge, Chief Economic Advisor, Allianz, former PIMCO CEO, Newport Beach, Art Hogan, Chief Market Strategist, National Securities, John Kilduff, Oil Analyst, Again Capital, CNBC contributor, Jeff Lazerson, President, MortgageGrader.com, O.C. Register columnist.
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Mottek On Money Special Edition focused on Southern California real estate. Guests: Dr. Frank Nothaft, Chief Economist, Corelogic for our "Frank" discussion on real estate, the mortgage business and the economy. Corelogic has released its latest report on rents for single family homes. Jeff Lazerson, President, MortgageGrader.com and O.C. Register columnist has the latest on mortgage rates. Los Angeles City Councilmember Joe Buscaino, Chair of L.A.'s Trade, Travel and Tourism Committee, has an update on the waterfront redevelopment project in San Pedro and the massive infrastructure project underway at Los Angeles International Airport along with a discussion on L.A.'s economic recovery from the pandemic and solutions to L.A.'s homeless crisis.
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Another record shattering week for stocks and cryptocurrencies on signs the economy is on a roll continuing the recovery from the pandemic recession. The Dow ended the week at 34,201 after ending above 34K for the first time on Thursday. Bitcoin saw a record shattering week moving above 64K as the crypto exchange Coinbase made its Wall Street Debut. Analysis of the markets and the economy with Dr. Mohamed El-Erian, President, Queens College Cambridge, Chief Economic Advisor, Allianz, former PIMCO CEO in Newport Beach. Scott Minerd, Global Chief Investment Officer, Guggenheim Investments, discusses the latest action on Wall Street and continued despair on parts of Main Street as L.A's homeless population continues to rise. He is leading the business community in supporting the Union Rescue Mission and its Angels of Hope fundraising telethon. More info here: www.URM.org Economist Kevin Klowden, executive director of the Milken Institute’s Center for Regional Economics and California Center has an update on vaccine distributions and the impact of the pause on the Johnson and Johnson vaccine plus the announcement that the Milken Institute Global Conference will be held in person again in Beverly Hills later this year. Kevin O'Leary, a.k.a. Mr. Wonderful on Shark Tank, Chairman of O'Shares ETFs and Beanstox provides his insights on the markets, the economy and cryptocurrencies.
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Stocks end the day at or near record highs. Bitcoin soars to a new high above $63K as the largest cryptocurrency exchange, Coinbase, is set for a direct listing on the Nasdaq. Both the SP500 and the Nasdaq close at all time highs. The Dow ended down 68 points, partially weighed down by shares of Johnson & Johnson which ended lower after U.S. regulators recommended a pause in administering its Covid vaccine to investigate reports of rare but potentially dangerous blood clots. The latest market action discussed with Art Hogan, Chief Market Strategist, National Securities. The latest readings on real estate, including mortgage delinquencies and foreclosures discussed with Dr. Frank Nothaft, Chief Economist at Corelogic and Oscar Wei, Deputy Chief Economist, California Association of Realtors.
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Stocks rally sending the Dow and SP500 to record highs. Big tech names participated in the latest rally as investors remain optimistic about economic growth and progress against the coronavirus pandemic. Bitcoin hovers near its all time high as more consumer facing companies invest in the cryptocurrency and begin accepting it as payments. Among them, Los Angeles based real estate company Caruso. The economic rebound, retail outlook and Bitcoin discussed with Los Angeles business and civic leader Rick Caruso, CEO of Caruso, developer of the most popular shopping destinations in Southern California including The Grove, Americana at Brand, Commons at Calabasas, Palisades Village as well the Rosewood Miramar Beach Resort in Montecito and the 8500 Burton Way luxury apartments. A new low-fare airline is set to start service at the Burbank airport. The new airline discussed with Andrew Levy, CEO of Avelo Airlines. Kevin O'Leary, a.k.a. Mr. Wonderful mega investor on TV's Shark Tank, Chairman of O'Shares ETFs and Beanstox discusses the latest news on Bitcoin, a record shattering week for stocks, inflation and what he sees as the best looking economy since the 1950's on the horizon.
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Mottek On Money Special Edition focusing on Southern California real estate. Home prices tick higher. Fixed rate mortgage rates move up. Affordability and availability the big issues as the traditional spring home buying season begins. Rays of sunshine in commercial real estate as pandemic restrictions are eased. The very latest reports from Dr. Frank Nothaft, Chief Economist, Corelogic, Oscar Wei, Deputy Chief Economist, California Association of Realtors, Spencer Levy, Chairman of Americas Research and Senior Economic Advisor for CBRE.
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A blockbuster March jobs report shows the economy added 916K jobs and the nation's unemployment rate fell to 6% from 6.2% as pandemic restrictions ease in many states including California. In reaction, benchmark government bond yields moved higher Friday in a holiday shortened session. The SP500 closed at a record high ahead of the three day Easter holiday weekend after the Dow had achieved a record high earlier in the week. Wall Street cheered the President's proposed $2.3T infrastructure plan, a strong reading on manufacturing and the latest vaccine news. Analysis of the markets and the economy from Dr. Mohamed El-Erian, President, Queens' College, Cambridge, Chief Economic Advisor, Allianz, former PIMCO CEO, Newport Beach, Jeff Lazerson, President, MortgageGrader and OC Register columnist, Economist Kevin Klowden, Executive Director of the Milken Institute's Center for Regional Economics and California Center 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 focusing on Southern California real estate and the latest readings on home prices, sales and the impact of Proposition 19 on real estate. Guests: Dr. Frank Nothaft, Chief Economist, Corelogic with the latest SP Corelogic Case Shiller Home price index which includes Los Angeles, San Diego and San Francisco. Economist Jordan Levine, Chief Economist, California Association of Realtors and Los Angeles County Assessor Jeff Prang on the next phase of Prop 19 kicking in on April 1st and what you need to know about it.
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A late rally sends the Dow and SP500 to record highs on the best consumer confidence reading in a year, optimism about the ongoing covid vaccine rollout in the U.S. and the price of oil climbing above $60/barrel as a massive cargo ship continues to block the Suez Canal impacting oil tankers and hundreds of other ships. New concerns about a third wave of Covid in parts of Europe. Mortgage rates move up for the 6th week in a row. Analysis of the markets and the economy from John Kilduff, oil analyst, Founding Partner, Again Capital, CNBC contributor, Ben Stein, financial commentator, economist, author in a special "Frank and Stein" segment, Jeff Lazerson, President, MortgageGrader.com and O.C. Register columnist and Kevin O'Leary, a.k.a. Mr. Wonderful on TV's Shark Tank, Chairman, O'Shares ETFs and Beanstox.
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Stocks pull back as coronavirus lockdowns are started or extended in parts of Europe including France, Germany, Poland and Greece. The Dow retreats 300 points at the closing bell. Oil tumbles 6% to $57.76/barrel on lower demand expectations. Meanwhile, Fed Chair Jerome Powell and Treasury Secretary Yellen deliver an upbeat assessment of the U.S. economic recover in a joint appearance before the House Financial Services Committee. Analysis of the latest market action with Art Hogan, Chief Market Strategist, National Securities. An update on commercial real estate from Spencer Levy, Chairman of Americas Research and Senior Economic Advisor for CBRE. And on the residential real estate side, the very latest readings plus the impact of higher mortgage rates and Prop 19 discussed with Oscar Wei, Deputy Chief Economist, California Association of Realtors.
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Mixed finish to a choppy but record shattering week for blue chip stocks. After closing at a record high above 33K for the first time on Wednesday, the Dow pulled back heading into the weekend as benchmark government bond yields hit 14 month highs sending mortgage rates higher. Fed Chair Jerome Powell reiterates the Fed's commitment "to provide the economy with the support that it needs for as long as it takes." Travel activity picks up with some cruise lines announcing plans to resume cruises in the Caribbean soon. The latest on the financial markets and the economy with Dr. Mohamed El-Erian, President, Queens' College, Cambridge, Chief Economic Advisor, Allianz, former PIMCO CEO in Newport Beach, "Cruiseguy" Stewart Chiron, cruise industry expert, President, CruiseGuy.com, Jeff Lazerson, President, Mortgagegrader.com and O.C. Register columnist, Gregg Wind, CPA, Partner, Kallman & Logan, West L.A., Kevin O'Leary, a.k.a. Mr. Wonerful on TV's Shark Tank, Chairman of O'Shares ETFs, Beanstox and Kevin O'Leary Fine Wines.
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Blue chip stocks slip slightly from record highs as the Fed begins a two day policy setting meeting that's set to wrap up on Wednesday with a statement on the economy, a decision on interest rates and a news conference by Fed Chairman Jerome Powell. The Dow slipped 128 points from its record high to settle at 32,826. Bitcoin pulled back a bit more from its record high and is now hovering near $56,500 after getting close to $61K over the weekend. The latest on the markets, economy and outlook from Art Hogan, Chief Market Strategist, National Securities. New readings on L.A. area home sales, home prices and single family rents. The latest discussed with Dr. Frank Nothaft, Chief Economist, Corelogic and Jordan Levine, Chief Economist, California Association of Realtors.
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Blue chip stocks end the week at record highs following the signing into law of the $1.9T pandemic relief package one year after the devastating Covid pandemic was declared. Direct payments of up to $1,400 to individuals are expected to start flowing to bank accounts and mail boxes starting this weekend. Tech stocks pulled back as long term government bond yields ticked higher in a volatile week. Bitcoin got close to its record high above $58K before pulling back. The record breaking $69.3 million sale at auction of a purely digital work of art has grabbed the attention of the worlds of art and cryptocurrency and shined the spotlight on something called "non-fungible tokens." Southern California counties are set to move out of the most restrictive covid prevention rules allowing businesses including restaurants and theaters to reopen some indoor operations. The latest on the markets and the economy discussed with Dr. Mohamed El-Erian, President, Queens' College, Cambridge, Chief Economic Advisor at Allianz, former PIMCO CEO in Newport Beach, Celebrity Chef Wolfgang Puck, global restauranteur including Spago, Cut, Chinois, and Wolfgang Puck Catering, Economist Kevin Klowden, executive director of the Milken Institute's Center for Regional Economics and California Center and Kevin O'Leary, a.k.a. Mr. Wonderful Mega Investor on TV's Shark Tank, Chairman, O'Shares ETFs and Beanstox with a comprehensive conversation including Bitcoin, the record sale of the digital artwork, the latest Gamestop mania and the next season of Shark Tank returning to production in Los Angeles.
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Mottek On Money Special Edition focused on Southern California residential and commercial real estate as the economy continues to recover from the pandemic recession. Guests: Dr. Frank Nothaft, Chief Economist, Corelogic, with the latest report on delinquencies and foreclosures, Jordan Levine, Chief Economist, California Association of Realtors with an update on home prices and sales as well as the association's push for a fair housing and equity legislative package in Sacramento. On commercial real estate, Spencer Levy, Chairman of Americas Research and Senior Economic Advisor, CBRE and David Damus, President/CEO, System Property Development and System Parking which recently celebrated its 100th anniversary in Los Angeles.
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Stocks wrap up a volatile week with a rally after yet another roller coaster ride as long term government bond yields make unusually wide moves before pulling back. The Dow ended the week with a closing gain of nearly 600 points. The bond market has reportedly just had its third worst week since the year 1830. Oil prices spike to the highest in nearly 2 years, moving above $66 a barrel. Gas prices in L.A. have hit the highest in more than a year. Better than expected news on the job front as the economy adds 379K jobs last month and the nation's unemployment rate slips to 6.2. Meanwhile work continues in Washington on a $1.9T Covid relief package and vaccine rollouts continue. Analysis on 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, O'Shares ETFs and Beanstox, John Kilduff, oil analyst, Founding Partner of Again Capital, CNBC contributor 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 focused on Southern California real estate including the latest report on home price growth from Corelogic Chief Economist Dr. Frank Nothaft, the latest on home sales and prices from Jordan Levine, Chief Economist at the California Association of Realtors and the latest on mortgage rates from Jeff Lazerson, President, MortgageGrader.com and O.C. Register columnist. Stocks pull back after what was the biggest one day rally of 2021. A mortgage company stock among the big winners. The latest on the markets and the economy from Art Hogan, Chief Market Strategist at National Securities.
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Stocks take a bumpy ride and end the week lower as the yield on the benchmark 10 year note moves sharply higher sending mortgage rates up. The Dow posted 2 days of triple digit losses in a row. All of the major averages ended the month of February with gains. Bitcoin hit a record high above $57,000 and ended the week about $10K below that. The latest on the markets, the economy and Bitcoin discussed with Dr. Mohamed El-Erian, President, Queens' College Cambridge, Chief Economic Advisor, Allianz, former PIMCO CEO in Newport Beach https://www.mohamedel-erian.com/ and Kevin O'Leary, a.k.a. Mr. Wonderful on TV's Shark Tank, Chairman, O'Shares ETFs and www.Beanstox.com The latest on mortgage rates discussed with Jeff Lazerson, President, www.mortgagegrader.com and O.C. Register columnist. The new Johnson and Johnson Covid vaccine will be available next week in California if all goes as planned. The latest on the vaccine rollout and outlook on the economic recovery discussed with Kevin Klowden, executive director of the Milken Institute's Center for Regional Economics and California Center. https://milkeninstitute.org/centers/fastercures
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Mottek On Money Special Edition focused on Southern California real estate and an impressive turnaround for the stock market with the Dow erasing about a 360 point intraday loss. The latest S&P Corelogic Case-Shiller Home Price index shows continuing price gains for Los Angeles and San Diego. The latest real estate trends discussed with Dr. Frank Nothaft, Chief Economist, Corelogic and Jordan Levine, Chief Economist, California Association of Realtors. On commercial real estate, Spencer Levy, Chairman of Americas Research and Senior Economic Advisor, CBRE. Stocks stage a late rally following the latest comments from Fed Chairman Jerome Powell on Capitol Hill. Bitcoin slides from its recent high. Analysis of the markets from Art Hogan, Chief Market Strategist, National Securities.
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Another record shattering week for stocks and cryptocurrency Bitcoin which soared above $56,000. Mixed readings out on the pandemic ravaged economy including jobless claims up 13K to 861K. Retail sales jumped a better than expected 5.3% in January. L.A. area gas prices edge higher as a severe winter snow storm paralyzes the fuel industry in Texas sending oil above $60/barrel. Analysis of the markets, the economy and Bitcoin from Dr. Mohamed El-Erian, President, Queens' College, Cambridge, Chief Economic Advisor, Allianz, former PIMCO CEO in Newport Beach and Kevin O'Leary a.k.a Mr. Wonderful on TV's Shark Tank, Chairman of O'Shares ETFs and Beanstox. Bill Allen, President/CEO, Los Angeles County Economic Development Corporation discusses the recent 2021 LAEDC Economic Forecast and discusses an upcoming event to guide people to community colleges in order to train for jobs that are in demand right now. www.laedc.orgwww.competitiveworkforce.la
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Stocks end the week at record highs ahead of the three day Valentine’s Day / President's Day holiday weekend. Bitcoin grabs the spotlight after hitting a record high above $48,000 over the past week. Elon Musk's Tesla announced a $1.5B purchase of Bitcoin and plans to accept Bitcoin for vehicle purchases. Other companies including banking giant BNY Mellon announced plans to offer Bitcoin services. Analysis of the markets, the economy and cryptocurrencies from Dr. Mohamed El-Erian, President, Queen's 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'Shares ETFs and Beanstox and Economist Kevin Klowden, executive director of the Milken Institute's Center for Regional Economics and California Center. The premier economic forecast event for the Los Angeles area businesses is set for Wednesday, February 17th. The LAEDC Economic Forecast event will be virtual this year. www.laedc.org One of the keynote speakers, Bruce Katz, Founding Director of the Nowak Metro Finance Lab at Drexel University, previews his presentation on work to achieve a more equitable post pandemic economic recovery for Los Angeles.
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Mottek On Money Special Edition focused on real estate. Guests: Economist Dr. Frank Nothaft, Chief Economist, Corelogic with the latest report on mortgage foreclosures and delinquencies in the pandemic recession. L.A. County Assessor Jeffrey Prang discusses Proposition 19, the first phase of which is set to be implemented next week impacting property taxes in California. www.assessor.lacounty.gov Economist Jordan Levine, Chief Economist, California Association of Realtors.
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Stocks rack up a five day winning streak, the longest since August, and wrap up the week before Super Bowl Sunday at or near record highs. President Biden's $1.9T pandemic rescue package moved forward in the U.S. Senate and the latest encouraging news on vaccine distribution helped propel the market higher. The so called Reddit Rally stocks saw a volatile week with GameStop shares closing up 19% on Friday but posting a loss of 80% for the week. Analysis of the latest market action from Kevin O'Leary, a.k.a. Mr. Wonderful on TV's Shark Tank, Chairman, O'Shares ETFs and Beanstox. www.beanstox.com Los Angeles gas prices surge as the price of oil nears $60/barrel, the highest since before the pandemic crisis. The outlook for consumers and investors from oil analyst John Kilduff, Founding Partner of Again Capital, CNBC contributor. The vaccine rollout accelerates. The latest on Covid vaccines from Economist Kevin Klowden, executive director of the Milken Institute's Center for Regional Economics and California Center. www.milkeninstitute.org/centers/fastercures Could be another volatile week for GameStop and other stocks that have been wildly popular with retail investors. Market veteran Michele "Mish" Schneider, Director of Education and Research at www.MarketGauge.com discusses the Reddit Rally and what might be ahead.
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Mottek On Money Special Edition covering Wall Street and Main Street during the pandemic. Today a special focus on the markets and real estate. Stocks rally on the latest earnings news, stimulus talks in Washington and vaccine distribution. The Dow closed up 476, Nasdaq gained 209 and the SP500 settled up 52. The so called Reddit Rally stocks which have seen big gains over the past week moved sharply lower including GameStop which closed down 60%, down $135 to $90. Silver slides 10%. Oil moves above $55 dollars a barrel for the first time in a year. Amazon's Jeff Bezos announces plans to step down as CEO and will transition to executive chairman of Amazon’s board. Market analysis from Art Hogan, Chief Market Strategist, National Securities. Home prices tick higher in L.A. and nationwide according to a new report on home price growth from Corelogic. The latest on real estate from Economist Dr. Frank Nothaft, Chief Economist at Corelogic and Economist Jordan Levine, Chief Economist, California Association of Realtors.
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A week of manic trading on Wall Street with stocks including GameStop, AMC Entertainment and others soaring after individual investors on the popular free trading app Robinhood heavily bought those stocks in a social media frenzy while Wall Street investors placed big bets against those stocks. The wild moves in the market over the past several trading sessions have led to calls for congressional hearings and regulatory action. While others don't want to see any restrictions or regulations. GameStop shares soared 400% for the week. The Dow wrapped up the week with a closing loss of 621 points to 29,983, its worst week and worst month since October. Expert analysis on the markets and the economy, as well as an explanation of the manic market moves, from Dr. Mohamed El-Erian, President, Queens, Cambridge, Chief Economic Advisor, Allianz, former PIMCO CEO, Newport Beach and Kevin O'Leary, a.k.a. Mr. Wonderful on TV's Shark Tank, Chairman of O'Shares ETFs and Beanstox. The L.A. economy is being slowly reopened again this week. The latest from Wilmington-San Pedro L.A. City Councilmember Joe Buscaino and Bill Allen, President/CEO, The Los Angeles County Economic Development Corporation (LAEDC) www.LAEDC.org www.saferatwork.la
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Stocks bounce back after the worst one day drop since October as market mania continues with some brokerage platforms now stopping, suspending or limiting trading on certain stocks such as GameStop which have seen big moves in the so called Reddit Rally. Some lawmakers are now calling the stock market's integrity into question and are calling for congressional hearings as well as investigations. The Dow, which had been up about 650 points earlier in the session, came in for a closing gain of 300. Analysis of the market action 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. Today marks the 35th anniversary of the Space Shuttle Challenger disaster. We honor the memory of the 7 Challenger astronauts including high school teacher Christa McAuliffe. A look back and a look ahead with retired NASA Astronaut and U.S. Navy Captain Robert Crippen who piloted the first space shuttle flight of Columbia in 1981. He later commanded 3 other space shuttle missions aboard Challenger. He also served as director of the entire space shuttle program and then as director of the Kennedy Space Center. www.stemadvantage.org www.challenger.org
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Mottek On Money Special Edition focused on residential and commercial real estate. L.A. home prices post a yearly gain of 9.1% according to the latest S&P CoreLogic Case-Shiller home price index. San Diego home prices are up 12.3%. Home prices and sales continue to show impressive gains during the pandemic as mortgage rates continue to hover at or near record lows. Industrial real estate continues to be the shining star in commercial real estate as other sectors including office, restaurants and retail continue to struggle. The latest readings on real estate and analysis from Dr. Frank Nothaft, Chief Economist, Corelogic, Jordan Levine, Chief Economist, California Association of Realtors, Lewis Horne, President, Pacific Southwest Division, CBRE, past chairman of the Los Angeles County Economic Development Corporation (LAEDC)
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Another record shattering week for stocks as President Biden takes office and proposes a $1.9T American Rescue Plan saying the U.S. economic crisis was deepening because of the ongoing pandemic. Former Fed Chair Janet Yellen is set be confirmed by the U.S. Senate as the next U.S. Treasury Secretary. The Nasdaq ended the week at a record high and up 4.2% for the week. California's economy struggles as the vaccine rollout disappoints. 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 ETFs and Beanstox, Economist Kevin Klowden, executive director of the Milken Institute’s Center for Regional Economics and California Center. Cruiselines make another tough announcement on cancelling more cruises into the new year because of the pandemic. The latest discussed with cruise industry expert Stewart Chiron, President, www.Cruiseguy.com
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Stocks slip from record highs as the covid pandemic continues to weigh on the economy. Weekly jobless claims hit a five month high approaching one million, retail sales pulled back for the third month in a row. New hope for small business owners struggling in the pandemic with the resumption of the Paycheck Protection Program and promises of more economic stimulus from the incoming Biden administration. 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, Celebrity Chef and global restauranteur Wolfgang Puck owner of Spago, Cut, Chinois and Wolfgang Puck Catering discusses the current state of the restaurant and catering business and his new reality series The Event on HBO Max which chronicles his catering of Hollywood's biggest celebrity events, and Kevin O'Leary, a.k.a. Mr. Wonderful mega investor on TV's Shark Tank, Chairman of O'Share's ETFs and Beanstox.
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Stocks wrap up the first week of 2021 at record highs despite a chaotic week in Washington, new alarming numbers on the covid pandemic and job losses last month for the first time since last April. The market was lifted by expectations of massive economic stimulus from the soon to be Democratic controlled White House and congress. Bitcoin soars above $40K for the first time. LA's Union Rescue Mission sees its most challenging time ever helping L.A.'s homeless. www.URM.org Analysis on the markets and main street economy from Dr. Mohamed El-Erian, President, Queens College Cambridge, Chief Economic Advisor, Allianz, former PIMCO CEO, Newport Beach, Scott Minerd, Global Investments Chief, Guggenheim Partners, and Kevin O'Leary, a.k.a. Mr. Wonderful on TV's Shark Tank, chairman of O'Shares ETFs and Beanstox. Los Angeles business and civic leader Rick Caruso, CEO, Caruso, pays tribute to two tireless champions of L.A. as the city mourns their loss this weekend: Hall of Fame Dodgers Manager Tommy Lasorda who has died at the age of 93 and former Los Angeles City Councilmember Tom Labonge, known as Mr. L.A., who has died at age 67.
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Mottek On Money Special Edition covering Wall Street and Main Street in the coronavirus crisis: Stocks rally to record highs on new stimulus hopes a day after the U.S. Capitol is stormed and congress certifies the election of Democrat Joe Biden as the next President. Tesla shares ride to new highs above $800 driving Elon Musk to the top of the list of the world's wealthiest people passing up Amazon's Jeff Bezos. Bitcoin pops above $40K for the first time. Analysis of the markets and the economy, investment ideas for 2021 and more with Gabriel Wisdom, CEO, Managing Director, American Money Management and Economist Kevin Klowden, Executive Director of the Milken Institute’s Center for Regional Economics and California Center. (Apologies in advance to all of our great listeners for my bout of laryngitis on this edition. 2020 and the roaring start to '21 finally caught up with me!)
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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Stocks edge higher on the second day of trading in 2021, with the Dow up 168 points at the close, partially rebounding from the nearly 400 point closing loss the Dow sustained on the first trading day of the new year after a record shattering 2020. Investors were cautious ahead of the U.S. Senate seat run off election results in Georgia which could change the balance of power in the senate. Residential real estate prices continue to surge while commercial real estate stays under pressure in the ongoing pandemic. Analysis of the markets and the economy with Art Hogan, Chief Market Strategist, National Securities, Dr. Frank Nothaft, Chief Economist, Corelogic, www.corelogic.com Jordan Levine, Chief Economist, California Association of Realtors. www.CAR.org
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Happy New Year! Stocks close out the tumultuous pandemic year of 2020 at or near record highs with the Dow and SP500 ending all time highs, the Nasdaq closes out the year just below its all time high and sees its a nearly 44 percent gain for the year, its best annual gain since 2009. Gold and silver posted double digit gains for the year as the dollar sank to a 2 1/2 year low against other major currencies. Bitcoin hit a record high above $29,000. Oil wrapped up the year at $48.52/barrel rebounding from the 2020 low of negative $40 during the economic shutdown. Optimism persists for 2021 over new stimulus, Covid vaccines and Fed action. Analysis of the markets and the economy from Dr. Mohamed El-Erian, President, Queens College, Cambridge, Chief Economic Advisor, Allianz, former PIMCO CEO, Newport Beach, John Kilduff, Founding Partner, Again Capital, CNBC contributor, Kevin O'Leary, a.k.a. Mr. Wonderful mega investor on TV's Shark Tank, Chairman, O'Shares ETFs and Beanstox.
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Santa shows up on Wall Street on Christmas eve as stocks end the holiday shortened week slightly higher. Drama continues to play out in Washington over the pandemic economic rescue package and the amount of the direct stimulus checks to individuals. A vote is now set for Monday in congress on increasing the amount from $600 to $2000. The holiday shopping season, the business outlook, retail trends and philanthropy discussed with Los Angeles business and civic leader Rick Caruso, CEO, Caruso, developer of the most successful outdoor shopping destinations in Southern California including the Grove. www.thegrovela.comwww.paralosninos.orgwww.operationprogressla.org Economist Kevin Klowden, executive director of the Milken Institute’s Center for Regional Economics and California Center discusses what's next following the hang up of the pandemic stimulus package as covid cases spike. Kevin O'Leary, a.k.a. Mr. Wonderful mega investor on TV's Shark Tank, Chairman, O'Shares ETF's and Beanstox discusses the stimulus, the markets, the economy, vinyl music record sales hitting a record high and his doppelganger Post Malone.
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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: The holiday season, economy, consumers, pandemic, retail trends, education, philanthropy and the outlook for 2021 discussed with master entrepreneur Rick Caruso, CEO, Caruso, Los Angeles business innovator, civic leader and philanthropist, developer of the most successful outdoor shopping destinations in Southern California including The Grove, www.thegrovela.com Americana at Brand, Commons at Calabasas, Palisades Village, residential properties including 8500 Burton Way www.8500burton.com and oceanfront hotel in Santa Barbara County, the Rosewood Miramar Beach resort in Montecito www.rosewoodhotels.com/en/miramar-beach-montecito and Chair, USC Board of Trustees www.usc.edu Chair, advisory board of USC Caruso Catholic Centerwww.catholictrojan.org
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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Stocks post a mixed finish with the Nasdaq ending the day at a record high. The Dow pulled back 200 points at the close. The financial markets digested the passage of a $900B economic rescue package in Washington, new alarming covid numbers, the latest consumer confidence reading hitting the lowest since May and Apple moving close to a record high on new buzz about a possible Apple car in the works. Analysis on the markets and the economy from veteran market strategist Art Hogan, Chief Market Strategist, National Securities. California real estate sales remain strong while other parts of the country are seeing a pull back. The latest on real estate discussed with Jordan Levine, Chief Economist, California Association of Realtors.
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A record shattering week for stocks on the latest assurances from the Fed, the start of covid shots, the FDA approval of a second coronavirus vaccine for emergency use and work on another economic rescue package in Washington. Meanwhile, the coronavirus crisis continues with cases and deaths hitting new highs, business restrictions lead to a jump in jobless claims for the second week in a row and retail sales dipped last month at the start of the holiday season. The latest on the markets and the economy discussed with 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 mega investor on TV's Shark Tank, Chairman, O'Shares ETFs and Beanstox. Jeff Lazerson, President, Mortgage Grader and Orange County Register columnist discusses mortgage rates hitting record lows and changes that could allow more consumers access to home loans. Certified Public Accountant Gregg Wind, Partner, Kallman and Logan & Co. CPAs, West Los Angeles, Past-President, LA Chapter of the California Society of CPAs, discusses 2020 year end tax planning.
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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Stocks rally to record highs on signs a $900B pandemic rescue package is coming together in congress and could be approved by this weekend. An FDA advisory panel declares the covid vaccine made by drug company Moderna safe and effective. All this as covid cases and deaths continue to spike and the economic impact continues to be felt with unemployment lines getting longer this past week by more than 20K to 885,000, a nearly four month high. The Dow closes up 149 points to 30,303. Bitcoin hits a record high above $23,000. The latest on the markets and the economy discussed with 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. Our series continues recognizing outstanding entrepreneurs in this pandemic year. L.A. based Thorofare Capital’s Kevin and Brendan Miller were selected by EY as finalists for the Entrepreneur of the Year 2020 Awards in Greater Los Angeles. Thoroughfare Capital's founder and CEO Kevin Miller discusses the firm, commercial real estate lending in the pandemic and the entrepreneurial spirit in L.A.
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The FDA approves emergency use of the Pfizer/BioNTech covid vaccine for use in the U.S. as coronavirus cases and deaths continue to surge with the national death toll now approaching 300,000. Jobless claims hit a three month high as new business restrictions kick in. Meanwhile, no deal yet in Washington on a proposed $900B economic rescue package. Stocks pulled back after a record run up in a week which featured the Airbnb IPO, the biggest initial public stock offering of the year. Analysis on the markets and the economy with Dr. Mohamed El-Erian, President, Queens College, Cambridge, Chief Economic Advisor, Allianz, former PIMCO CEO in Newport Beach and Kevin O'Leary, Mr. Wonderful investor on TV's Shark Tank, Chairman of O'Shares ETFs and Beanstox. L.A. county hair salons and barber shops endure a third government ordered shutdown because of the ongoing pandemic. The latest discussed with Giuseppe Franco, celebrity hair stylist and salon owner in Beverly Hills.
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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Stocks post a mixed finish on the latest weekly jobless claims moving up to a three month high on new business shutdowns in the face of a record rise in covid cases, stimulus talks continuing but still no deal in Washington and an FDA advisory committee meeting to approve emergency authorization of the Pfizer - BioNTech covid vaccine (which was given after the closing bell). Airbnb becomes the biggest IPO of the year and the stock soars more than 100% in its Nasdaq debut. The Dow slips 70, Nasdaq gains 67, SP500 closed down 5 points. The latest on the markets and the main street economy discussed with Art Hogan, Chief Market Strategist, National Securities www.yournational.com John Carroll, Owner Caroll Custom men's clothing in Beverly Hills www.carollcustom.com and Economist Kevin Klowden, executive director of the Milken Institute’s Center for Regional Economics and California Center www.milkeninstitute.org
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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Another record shattering day for stocks after a lower start on sluggish stimulus talks in Washington as covid numbers continue to spike to new highs. The latest vaccine news including the start of covid shots in the UK and expectations a covid shot will be approved within days in the U.S. turned the market higher. Tesla ended the day at a new high sending its market cap above $600B. Analysis of the markets, the economy and latest vaccine news with Art Hogan, Chief Market Strategist, National Securities. The latest on real estate, the mortgage business and California property taxes due this week with guests including Dr. Frank Nothaft, Chief Economist, Corelogic, Leslie Appleton-Young, Chief Economist, Calfiornia Association of Realtors and Dan McAllister, San Diego County Treasurer-Tax Collector. www.sdttc.com
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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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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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Stocks end the week mixed as drama continues in Washington over whether consumers and businesses will get any more rescue money from the government anytime soon as the coronavirus crisis continues. Talks reportedly continue on a stimulus package valued at about $2T dollars. The major averages end the week .5% to 1% lower with the Dow and SP500 snapping three week winning streaks. It's an earlier than ever start to the holiday shopping season for retailers. The retail landscape continues to change with Gap announcing plans to close hundreds of stores over the next several years. An update on retail, business, entrepreneurs and the outlook for the holiday shopping season from Rick Caruso, CEO, Caruso, L.A. business and civic leader, developer of the most successful shopping destinations including The Grove, Americana at Brand and Palisades Village. Kevin O'Leary, a.k.a. Mr. Wonderful on TV's Shark Tank, Chairman of O'Shares ETFs and Beanstox, discusses the market and the economy as well as the failure of Quibi, a video streaming service involving some big Hollywood names that's being pulled down after just six months.
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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis. Stocks meander and end the day higher on the latest signals from Washington on another coronavirus economic rescue package, unemployment claims dropping to a pandemic low, sizzling home sales and the latest earnings news. The 2020 Milken Institute Global Conference: Meeting the Moment wraps up after a week and a half long series of discussions including leaders in government, finance, business, medicine, philanthropy and academia. The conference and the latest news discussed discussed with economist Kevin Klowden, executive director of the Milken Institute's Center for Regional Economics and California Center in Santa Monica. The latest market action and outlook discussed with Gabriel Wisdom, Managing Director of American Money Management and author of Wisdom on Value Investing.
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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis. Stocks end the day higher as investors stay optimistic about another possible economic rescue package being urgently worked on in Washington. The Dow came in for a closing gain 113 points after rallying more than 300 earlier. The US Justice Department files an anti trust lawsuit against Google's parent company Alphabet. Google shares end the day higher. The earnings parade continues with Netflix, Snap and Texas Instruments in the spotlight after the closing bell. The latest on the markets and the economy discussed with Art Hogan, Chief Market Strategist at National Securities. Todd Hollander, Head of Business Banking and Small Business at Union Bank releases the banks latest survey of small business owners in the ongoing pandemic. Economist Dr. Frank Nothaft, Chief Economist, Corelogic, has the latest report on single family home rents, coming DOWN in the L.A. area, 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: The latest stock market rally fizzles out as hopes fade on another economic rescue deal in Washington. Stocks moved higher at the opening bell on the latest reading on China's economy show it grew nearly 5 percent in the last quarter. But the ongoing stimulus drama, rising coronavirus case numbers in the U.S. and Europe, along with comments for the Fed's vice chair on the pace of the recovery sent stocks tumbling. The Dow came in for a closing loss of 411 points. Analysis on the markets and the economy from Art Hogan, Chief Market Strategist, National Securities. A Los Angeles celebrity dentist previously honored as a KNX Hero for his work with the homeless achieves another milestone. Dr. Jay S. Grossman, Founder and CEO, of the non profit group Homeless Not Toothless, celebrates its 10,000th day of helping homeless veterans. Rob Fried, an Academy Award winner, former top Hollywood studio executive, discusses heading up a Los Angeles based biosciences company ChromaDex and its flagship anti aging product, the outlook for a coronavirus vaccine and how Hollywood production has been impacted by the pandemic.
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Stocks move mostly higher as consumer confidence hits a pandemic high, retail sales move up for the fifth month in a row and stimulus hopes stay alive in Washington. Social media companies come under new scrutiny. LA's job numbers improve as businesses face tremendous challenges in the ongoing coronavirus crisis. Analysis of the latest news impacting the main street economy and Wall Street from Kevin O'Leary, a.k.a. Mr. Wonderful on TV's Shark, Chairman, O'Shares ETFs and Beanstox, Stephen Cheung, Chief Operating Officer, LAEDC, www.laedc.org President, World Trade Center Los Angeles and Joseph Lavorgna, Chief Economist, National Economic Council, Special Assistant to the President.
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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Stocks bounce around on an alarming rise in coronavirus case numbers in Europe, unemployment claims rising in the U.S. and ongoing uncertainty over a second economic rescue package from lawmakers in Washington. The Dow plunged more than 300 points during the trading day then briefly moved into positive territory. The rally fizzed out and the Dow came in for a closing loss of 20 points. The 2020 Milken Institute's Global Conference gets underway with theme "Meeting the Moment" bringing together world leaders in business, government, academia and philanthropy. The conference, usually held annually in Beverly Hills, is being conducted virtually for the first time this year due to the pandemic. The latest on the economy, the markets and the conference discussed with economist Kevin Klowden, Executive Director of the Milken Institute's Center for Regional Economics and California Center. https://milkeninstitute.org/events/global-conference-2020 Todd Johnson, President, Beverly Hills Chamber of Commerce discusses the Beverly Hills Back to Business Fall Virtual Collaborative set for October 21st, 2020 including the 2020 Best of Beverly Hills Golden Palm Award honorees. https://members.beverlyhillschamber.com/events/details/beverly-hills-back-to-business-fall-virtual-collaborative-19533
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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis. Apple takes the spotlight among consumers and investors as the new 5G enabled iPhone 12 models are unveiled at Apple's Hi Speed product rollout event. Apple stock ends the day lower. Stocks pull back on the latest bank earnings and a couple of disappointing reports on potential covid vaccines and treatments. Amazon's self declared shopping holiday Prime Day begins with other retailers piling on with deals creating an early start to the holiday shopping season. Analysis on the markets and the economy from Art Hogan, Chief Market Strategist, National Securities. Economist Dr. Frank Nothaft, Chief Economist at Corelogic, discusses the latest Corelogic report showing another spike in mortgage delinquencies as the pandemic continues in our Frank discussion on real estate, the mortgage business and the economy.
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Renewed economic stimulus hopes renew a rally on Wall Street while tough times continue on Main Street during the ongoing pandemic. Stocks rack up the best gains seen in months as the White House and congressional Democrats reportedly mover closer to another economic rescue deal. This as thousands of jobs are lost in the airline business and weekly jobless remain alarmingly high at 840K. Analysis on the markets and the economy from Dr. Mohamed El-Erian, Chief Economic Advisor, Allianz, President, Queens College, Cambridge and Kevin O'Leary, mega entrepreneur, business investor a.k.a. Mr. Wonderful on TV's Shark Tank, Chairman, O'Shares ETF's. L.A. County Assessor Jeffrey Prang discusses property tax relief available for homeowners impacted by recent wildfires and the latest readings on residential as well as commercial real estate values in the Los Angeles area. www.assessor.lacounty.gov
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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Another potential billion dollar disaster is brewing as Hurricane Delta roars through the Gulf of Mexico heading to the Louisiana coastline. At least 90 percent of gas and oil production in the gulf has already been disrupted. The price of oil moves above $41 a barrel. Oil analyst John Kilduff, Founding Partner, Again Capital and CNBC contributor discusses the impact on consumers, businesses and investors. The latest weekly jobless claims come in weaker than expected as coronavirus cases rise again. Work on coronavirus vaccines and treatments continue as President Trump recovers from covid-19. Stocks take another roller coaster ride on the latest back and forth in Washington over a possible coronavirus rescue package. Analysis on the economy and the markets from economist Kevin Klowden, executive director of the Milken Institute's Center for Regional Economics and California Center. He also provides a preview of the 2020 Milken Institute Global Conference: Meeting the Moment which is set to start next week.
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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis. The latest stock market rally fizzles out after President Trump announces talks between the administration and house Democrats on a new economic rescue package are over until after the November 3rd presidential election. The Dow, which had been higher in triple digits earlier on stimulus hopes, closed down 376. Airline stocks among the big losers. Airlines among the coronavirus ravaged industries which had been counting on additional government help to head off another round of job and salary cuts. Analysis of the latest market action and impact on the main street economy with Art Hogan, Chief Market Strategist, National Securities. Home prices continue to hold up in the face of the ongoing pandemic. The latest report discussed with economist Dr. Frank Nothaft, Chief Economist, Corelogic in our Frank discussion on real estate, the mortgage business and the economy.
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President Trump diagnosed with covid-19 and later hospitalized for treatment. In reaction, global markets moved mostly lower including an initial 430 point drop for the Dow Jones Industrial Average before coming in for a closing loss of 134. A weaker than expected September jobs report also weighed on the market. The Dow briefly moved into positive territory on rising optimism that lawmakers in Washington might still be able to approve more rescue money for the economy including help for pandemic ravaged airline industry. Analysis on the latest moves on Wall Street and the Main Street economy from Dr. Mohamed El-Erian, President, Queens College, Cambridge, Chief Economic Advisor Allianz, former PIMCO CEO in Newport Beach and Kevin O'Leary, a.k.a Mr. Wonderful on TV's Shark Tank, mega business investor, entrepreneur, Chairman of O'Shares ETFs.
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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis. A positive start to the new month of October and the 4th quarter of 2020 after a volatile month of September and winning 3rd quarter. The high stakes game of deal or no deal continues in Washington over a new coronavirus rescue package as the airline industry sheds thousands of jobs. Market analysis from Art Hogan, Chief Market Strategist, National Securities. The price of oil slides below $40 over demand concerns in the ongoing pandemic. The latest discussed with oil analyst John Kilduff, Founding Partner, Again Capital and CNBC contributor. Mixed signals on the main street economy ahead of the September jobs report and fading hopes on a new stimulus package from congress. The latest readings on the economy and work on coronavirus vaccines 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. Today the spotlight shines on Orange County with the Orange County Business Council releasing its 2020-2021 Community Indicators Report. The Walt Disney Company makes a tough announcement on laying off 28,000 employees in its theme park division as Disneyland and California Adventure remain closed in Anaheim and Disney theme parks in Florida operate at limited capacity during the ongoing pandemic. The O.C. economy and business scene discussed with Dr. Wallace Walrod, Chief Economic Advisor, Orange County Business Council www.ocbc.org Home prices continue to rise in the L.A.-O.C. area. Dr. Frank Nothaft, Chief Economist, at O.C. based Corelogic shares the latest Corelogic S&P Case Shiller Home Price Index in our Frank discussion on real estate, the mortgage business and the economy. Jeff Lazerson, President, Mortgage Grader and O.C. Register Columnist discusses a booming time for real estate and mortgage activity.
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Mottek On Money Special Edition covering Wall Street and Main Street during the Coronavirus Crisis: A giant in the restaurant business updates us on the challenges restaurants are facing in the ongoing pandemic. Wolfgang Puck, celebrity chef and restaurant empire founder, discusses the current issues in the restaurant business, calls for more help from Washington to save jobs, new calls for insurance companies to honor business interruption coverage, his plans to open two new restaurants in the Los Angeles area this year, the outlook for events, holidays, the catering business and more. www.wolfgangpuck.com Stocks start the week with a rally as investors keep an eye on Washington and the possibility of another covid rescue package coming together. The restaurant sector and the latest market rally discussed with Art Hogan, Chief Market Strategist, National Securities.
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Volatility on Wall Street. Economic uncertainty on Main Street. Stocks cap a volatile week with a rally sending the Dow up 358 in what turned out to be the fourth losing week in a row for the blue chip index, the longest stretch of weekly losses in a year. The Nasdaq snapped a three week losing streak as tech stocks rebounded giving that index a 241 point gain to close out the week. The markets have bounced around this month in the face of uncertainty about additional pandemic rescue money from congress, concerns about the pace of the economic recovery and an alarming rise in covid cases in the U.S. and Europe. Special coverage of Wall Street and Main Street during the coronavirus crisis continues with guests: Scott Minerd, Global Chief Investment Officer of Guggenheim Partners and Chairman of Guggenheim Investments, philanthropist www.URM.org Kevin O'Leary, a.k.a. Mr. Wonderful on TV's Shark Tank, mega entrepreneur, investor, business owner, Chair, O'Shares ETF's, Kevin O'Leary Fine Wines www.olearyfinewines.com Tyler Mathisen, co-anchor CNBC’s Power Lunch, Vice President, CNBC Events www.deliveringalpha.com
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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Stocks take another roller coaster ride and end slightly higher a day after a 500+ point closing drop for the Dow Jones Industrial Average. The Dow closed up 52 points. Reports that another coronavirus rescue package is coming together in congress gave stocks a boost in the final hour of trading. Earlier the markets gyrated on the latest reports on weekly jobless claims showing unemployment lines longer by 4,000 over the past week to 870,000. New home sales hit the highest levels since 2006 last month. Market analysis from Ken Winans, President, Founder, Chief Investment Officer, Winans Investments, Forbes contributor and author of numerous books on investing including Investment Atlas II: Using History as a Financial Tool. The latest assessment on the economy and coronavirus vaccine work 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 end higher, partially rebounding from the Dow's 500+ point closing drop seen in the previous session. The Dow ended up 140 points, snapping a three day losing streak. Fed Chairman Jerome Powell and US Treasury Secretary Steven Mnuchin appeared before the House Financial Services Committee chaired by Southern California Congresswoman Maxine Waters for an update on the CARES act and other efforts to bolster the economy in the ongoing pandemic. Southern California business leaders are navigating through tough challenges. NBA Hall of Famer, Laker great and L.A. business leader Earvin Magic Johnson is set to address the Provisors networking organization. Matt Toledo, CEO of Provisors, former Publisher of the Los Angeles Business Journal and past chair of the LA Area Chamber of Commerce updates the business community and details the upcoming event. https://www.provisors.com/ On the markets, Art Hogan, Chief Market Strategist, National Securities, discusses what's been a rough month of September for stocks. Economist, Dr. Frank Nothaft, Chief Economist, Coreologic, on our Frank discussion on real estate, the mortgage business and the economy, shares Corelogic's latest report on home equity.
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Another volatile and losing week for stocks in the face of a slowing economic recovery in the ongoing coronavirus pandemic, no deal yet in congress on another economic rescue package, and rising U.S.- China tensions over technology and two popular Chinese owned apps, TikTok and WeChat. Analysis on the markets and the economy as well as some silver linings in the current crisis with Dr. Mohamed El-Erian, Chief Economic Advisor, Allianz, former PIMCO CEO in Newport Beach. https://www.project-syndicate.org/commentary/covid-silver-linings-playbook-by-mohamed-a-el-erian-2020-09 L.A.'s largest annual block party cancer research fundraiser pivots to a virtual format this year. Details from Derek Alpert, President of the Concern Foundation for Cancer Research https://www.concernfoundation.org/block-party.html Los Angeles business and civic leader Rick Caruso, CEO, Caruso, developer of the most successful shopping destinations in Southern California including The Grove, Americana at Brand, Palisades Village, the Commons at Calabasas, provides an update on the L.A. economy, retail, reopening businesses, his view on Prop 15 and more. https://caruso.com/
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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Stocks take a roller coaster ride and finish lower. The markets digest the latest readings on the economy including weekly jobless claims pulling back about 33K over the past week to 860K, the Federal Reserve signalling low benchmark rates for several years, the latest efforts in Washington for another covid rescue package and work on a coronavirus vaccine. The Dow finished the day down 130 points, snapping a four day winning streak, after sliding nearly 400 early on and then briefing moving into positive territory during the trading day. Analysis on the markets and the economy from Economist Kevin Klowden, Executive Director of the Milken Institute's Center for Regional Economics and California Center and Art Hogan, Chief Market Strategist, National Securities.
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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Stocks end the day higher but off the best levels of the day with tech names including Apple driving the gains. Apple's new product announcements included new Apple Watches, new iPads and Apple One service bundles. Analysis on the markets and outlook from Jim Hausberg, Managing Director, HighTower Advisors, Los Angeles/Beverly Hills. Big help wanted signs are up for cybersecurity professionals. Dr. Rick Hefner, program director for CalTech's Center for Technology and Management Education discusses the partnership between CalTech and Fullstack Academy providing a training program for cybersecurity jobs. https://ctme.caltech.edu/programs-for-individuals/cybersecurity-open/cybersecurity-bootcamp-open A new report on single family home rents shows they are coming down in Los Angeles. The latest report in our Frank discussion on real estate and the mortgage business with Dr. Frank Nothaft, Chief Economist, Corelogic.
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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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Mottek On Money Special Edition covering Wall Street and Main Street during the Coronavirus Crisis: New concerns about the economic recovery as unemployment lines get longer again as congress is deadlocked on another round of coronavirus rescue funds. The weekly jobless claims moved above one million again to 1.1 million after dipping below a million last week. Stocks started the day lower, but finished higher with tech stocks leading the way. The Nasdaq closed at a record high. Tesla closed at a record high above $2000 for the first time. Analysis from economist Kevin Klowden, executive director of the Milken Institute's Center for Regional Economics and California Center. Some cruises have resumed in Europe. The very latest from cruise industry expert, Cruise Guy Stewart Chiron, President, www.Cruiseguy.com The Method Fest Film Festival has pivoted to a drive-in format this year. Actor and film producer Dennis Ostermaier, who also stars in his film “The Jonestown Defense” talks about the innovative www.methodfest.com.
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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: It's a day for the record books on Wall Street as the SP500 closes at a record high for the first time since the crisis and the bear market sell off earlier this year. The broadly based market index settled up 8 points to 3,390 surpassing the previous record high achieved in February. After the fastest bear market sell off in market history, we've now seen the fastest market rebound. The Nasdaq composite also settled a record high, closing up 81 points to 11,211. Market analysis from Art Hogan, Chief Market Strategist, National Securities. Single family home rents are coming down in L.A. for the first time in years. Economist Dr. Frank Nothaft, Chief Economist, Corelogic, has the latest report in our weekly "Frank" discussion on real estate and the mortgage business. An L.A. firm has taken rent forgiveness to the next level, approving a 90 day rent forgiveness to its tenants, as we hear from Daniel Alexander, co founder and principal of Domos Rossmore co-living in Los Angeles.
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Stocks reach for new highs then retreat after lawmakers in Washington pack it in until after Labor Day without reaching a deal on another rescue package for the coronavirus ravaged economy. The SP500 moved in to new high territory before pulling back, closing down a fraction, putting it about 14 points below the record closing high achieved in February as the covid crisis hit Gold pulls back for the first time in nine weeks after a record run up above $2000/ounce. Retail sales tick up for the third month in a row. L.A. leads the nation in permanent business closings during the pandemic. The retail landscape continues to evolve. Analysis of the markets and the economy from Dr. Mohamed El-Erian, Chief Economic Advisor, Allianz, former PIMCO CEO, Newport Beach, and Los Angeles business and civic leader Rick Caruso, CEO, Caruso, developer of the most successful shopping destinations in Southern California including The Grove, Americana at Brand, Palisades Village and Commons at Calabasas.
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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis. Unemployment lines got shorter over the past week with the latest weekly jobless claims report coming in below 1 million for the first time in nearly 5 months. Stocks ended mostly lower after the latest rally fizzled out on the continuing stalemate in Washington over the next crisis rescue package. The Dow slipped 80. The Nasdaq gained 30 points. Government bond yields edged higher. Oil pulled back from the highest seen since March. Gold closed up $21.40 to $1970.40/oz. The U.S. coronavirus death toll exceeds 165,000. Analysis of the markets, the economy and work on coronavirus vaccines with Economist Kevin Klowden, Executive Director of the Milken Institute's Center for Regional Economics and California Center https://milkeninstitute.org/
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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Breaking News: Pink's Hot Dogs, one of L.A.'s popular and successful businesses plans to reopen tomorrow (Wednesday, August 12th) after a nearly five month shutdown. Owner Richard Pink discusses the reopening of the iconic hot dog stand on LaBrea at Melrose, restaurant business challenges, real estate and philanthropy. Mortgage delinquencies jump as the coronavirus crisis continues to take an economic toll. The very latest report from Economist Dr. Frank Nothaft, Chief Economist at Corelogic. Stocks take a wild ride with the SP500 making a run for a record high before pulling back in the final hour of trading. The Dow erased a 350 point gain and closed down 105 points. Gold and silver plunged. Market analysis from Jim Hausberg, Managing Director, HighTower Advisors.
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Mixed finish to another record shattering week on Wall Street. Tech stocks slipped from record highs as U.S. China tensions flared. Gold saw a five session run up to record highs and ended the week just below its all time holding above $2000/ounce. The dollar firmed on a better than expected July jobs report showing employers added 1.76 million jobs and the nation's unemployment rate slipped to 10.2% from 11.1% in June. So far no deal in Washington on another coronavirus economic rescue package which could include an extension of supplemental unemployment benefits. Analysis of the markets and the economy with Dr. Mohamed El-Erian, 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, Rick Caruso, Los Angeles business and civic leader, philanthropist, CEO, Caruso, developer of shopping destinations including The Grove, Americana at Brand, Palisades Village and his newest property The Rosewood Miramar Beach Resort in Montecito https://www.rosewoodhotels.com/en/miramar-beach-montecito
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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Stocks end the day higher after bouncing around on the latest earnings news, weekly jobless claims hitting a pandemic low (but still above 1 million) and negotiations continuing in Washington on the next round of pandemic economic rescue efforts. The rally in big tech names including Apple continued sending the Nasdaq to a new high. The price of gold advanced to a record high for the fifth day in a row and moved closer to $2100 an ounce. Analysis on the markets and the economy from Michael Cuggino, President, Permanent Portfolio Family of Funds 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: Stock edge higher after a see-saw session with tech names including Apple hitting record highs. The Nasdaq continued its record winning streak finishing the day at an all time high. Negotiations continue in Washington on a new coronavirus rescue package for the economy. Corelogic forecasts lower real estate prices in the year ahead. The price of gold closes at a record high above $2000 an ounce, settling at $2021 an ounce. The dollar slipped overseas and government bond yields moved lower. The record shattering day for gold, the markets, the economy and real estate discussed with guests including Axel Merk, President and Chief Investment Officer of Merk Investments, manager of the Merk Funds including the VanEck Merk Gold Trust OUNZ https://www.merkinvestments.com/ Ben Stein, Economist, Financial Commentator, Author. Dr. Frank Nothaft, Chief Economist, Corelogic and Jeff Lazerson, President, Mortgage Grader and OC Register real estate columnist.
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Mottek On Money Special Edition covering Wall Street and Main Street during the coronavirus crisis: Tech stocks, including Apple and Microsoft rally to record highs sending the Nasdaq to a record high close. Stocks got a boost on the latest readings on the economy and signs of some progress in Washington on another pandemic rescue package for businesses and consumers. Gold closes at a record high. The latest on the markets and the economy discussed with Art Hogan, Chief Market Strategist, National Securities. A young entrepreneur's success story in downtown Los Angeles. Verlen Mitchell, CEO of www.ShipDistrict.com and Fast & Easy Shipping Services, shares his inspiring story about forming his company and thriving during the pandemic. Economist Dr. Robert Kleinhenz, Principal, Kleinhenz Economics, also affiliated with Cal State Long Beach and the Inland Empire Economic Partnership, takes a closer look at the latest readings on the economy, jobs and real estate.
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