Mottek On Money

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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